Tools to Estimate and Compare Cost of Living in Various Cities
Living in different cities can be a thrilling yet nail-biting experience. It can bring about major changes in your lifestyle, employment opportunities, and finances. One of the most concerning aspects of moving to a new city is the cost of living. Before making a move, it is essential to compare the cost of living between various cities. Fortunately, there are several tools available to estimate and compare the cost of living in different cities. In this article, we will discuss these tools in detail.
Numbeo is a cost of living database that allows you to compare the cost of living in different cities worldwide. It provides a detailed breakdown of the cost of living, including housing, transportation, food, and entertainment. You can input your current city and destination city and compare the prices side-by-side. Additionally, Numbeo allows you to add your monthly income and calculate the affordability ratio of each city.
Expatistan is another online database that provides a cost of living index for different cities worldwide. It boasts a user-friendly interface that enables you to filter the list of cities by continent, country, or price index. Expatistan also allows you to compare the cost of living between two cities by entering your current city and destination city. You can also contribute to the database by sharing your own expenses in your current city.
NerdWallet provides an interactive cost of living calculator that helps you calculate the cost of living between two cities in the US. The calculator factors in housing, transportation, food, healthcare, and taxes. You can adjust the calculator depending on your expenses and lifestyle. Additionally, NerdWallet provides an extensive guide on budgeting and saving money in different US states.
- Eardley International
Eardley International is a website that offers a comprehensive cost of living index for 282 cities worldwide. It ranks cities by comparing the prices of goods and services against prices in New York City. The list includes popular expat and tourist destinations, with detailed breakdowns of expenses such as housing, utilities, healthcare, and transport.
- Mercer Cost of Living Index
Mercer is a global consultancy that provides a yearly ranking of cost of living in different cities worldwide. The index compares the cost of living in each city based on factors such as housing, transport, food, entertainment, and clothing. The rankings are widely used by multinational companies to determine expatriate compensation packages.