This Is the City with the Highest Rent in the World
You guessed it: it's in America.
We all knew that rent in San Francisco is staggeringly expensive, but according to a new study by Walletwyse, it’s currently the most expensive city in the world.
The study ranked the average rent of 540 cities around the world, using data from Numbeo, a website that tracks the cost of living in various cities. San Francisco, where the average cost of living is $3,500, won the top slot, followed by Hamilton, Bermuda ($3,400), and Manhattan ($3,050). Hong Kong, another city that’s known for its astronomical cost of living, made it into fourth place, tying with Oakland, California, for its average rent of $2,450 a month.
The least expensive cities in the world were Mysore and Vadodara, both in India, along with Valenzuela in the Philippines, where the average rent was a shockingly low $100 a month.
Within the U.S., the least expensive city was found to be Springfield, Missouri, though it’s also previously ranked as one of the ten worst places to raise a family. If you’re thinking of relocating there, St. Louis may be a better option, as it’s also quite cheap while being ranked as one of the best places in the U.S. to get married and one of the best American cities in which to spend your golden years.
Rising rent is a major issue in America, especially for Millennials who are saddled with the highest student loans in history, which is why so many of them are flocking to smaller-than-New York cities like Seattle and Minneapolis.
If you can afford San Francisco, however, the city boasts a ton of benefits outside of great food and a myriad of attractions. It’s frequently made the top ten list of rankings of the happiest cities in America, as well as the healthiest ones. And if you’re eyeing a move abroad, you might want to check out the city voted as the best for expats.
For a more comprehensive look at American real estate, check out The 50 Best Cities for Buying a Bigger House.
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