Most Expensive States to Live in: As the world is getting more compact with the help of technology, the cost of living on it is keep on increasing. Buying the basic necessities are becoming too hard for normal people. However, it is not affecting the billionaires and millionaires but common people are not able to make their needs meet end.
There are some of the most expensive states to live in where you cannot imagine your life if your salary is not in 6 digits. Even the rent would take away half of your salary and you would not be able to save even a penny by the end of the month.
On the other hand there are cities like Bangalore, Kiev and Almaty which are the cheapest cities to live in. Life out here is really simple and affordable too. But in the cities like New York, Tokyo, Paris life is pretty tough as they are the most expensive states to live in.
According to the recent reports of March, 2022 we have come up with a list which shows the top most expensive states to live in 2022. And serious we are not kidding because this is going to be really tough for normal families living out there.
In fact, in this list 50% spot is acquired by cities which belongs to the Asia continent. Some of the states lost their places and dropped down to some spots. However, there are new entrants in this list too.
Los Angeles used to be in the top 10 spots but it dropped to 11 and missed the top list. It is really interesting to see that four of the cities in this list was acquired by Europe and this is second highest after Asia. Spot of U.S. in the list of most expensive states to live in, was saved by New York.
This list is prepared on the basis of different aspects and services offered like personal care items, household supplies, food, clothing, drink etc. This pricing was then converted to the US dollars and a list was formed on this basis.
Top 10 Most Expensive States to Live in 2022
The entire list of such cities are given below along with the description of cost of living out there. This would tell you about the most expensive states to live in around the world. So, when you get retired, make sure that you pick the right place to live in.
The 10th spot is acquired by Copenhagen. This is the capital city of Denmark and one of the most expensive states to live in. This wonderful city has a totally GDP of $105 billion annually. And which yields a per capita income of $60,000 roughly.
Now it is the time to discuss about the cost of living in Copenhagen and why it is one of the most expensive states to live in. The cost of living in Copenhagen is 12.76% lower than that of New York (on 9th rank).
All the expenses are counted in US Dollar to keep the comparison same and fair between all the states. We are going to start from the childcare and relevant facilities in Copenhagen.
If you want your kid to enroll in a kindergarten then you would have to spend $506.38 monthly. Whereas, it becomes $5800.67 when you enroll him into an international primary school for a yearly basis.
Talking about the basic necessities of one of this most expensive states to live in, then you would have to pay $86.11 for the three course meal of 2 people in a mid-range restaurant. If you are a cappuccino lover then you would have to bear $5.03 for a regular cup. In fact you need to pay $2.24 for a small water bottle.
Thinking about buying something to wear? Then you need to pay $107.77 for a Levis or similar kind of jeans. Even buying leather shoes would cost you $149.48. And if you wish to buy an apartment out there then you need to spend $515.21 for per square feet in city Centre.
9). New York
You must have seen featuring New York life in various TV shows and movies. They seems to be enjoying a lot in one of this most expensive states to live in US but well, that is not completely true. You really need to work very hard in order to get a nice pay so that you can survive in the city that never sleeps.
Let’s start with the basic amenities that you need in everyday life. For a gallon of milk you need to spend $3.96 and for a loaf of fresh bread the price is $3.25. Moving to the simpler things like fruits. For 1 lb apple the price is $2.46 which is around same for 1 lb oranges.
Planning to get settled in the New York, well you need to change your mind right away. To buy a house, you need to spend $1,152.89 for per square feet. And if you wish to rent it, then for 1 bedroom apartment you would have to give a rent of $2907.84 monthly if it is in the central area of city.
Well, the cost regarding buying or renting an apartment is way higher in New York than Copenhagen. But you get to feel some chill in terms of clothing. In one of the most expensive states to live in US, you need to spend $51.47 for 1 pair jeans while for leather shoes it is $115.44.
Childcare is also really expensive in New York than Copenhagen as you need to pay $1,375 to let your child study in kindergarten monthly. Well, raising a family in New York is not going to be easy.
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Our next pick in the category of most expensive states to live in is Paris. Paris is not only the fashion capital of the world but also one of the most beautiful cities on this planet. The magnificent Eiffel Tower, Notre Dame de Paris and other spots are too beautiful to handle.
This is the capital of France and surely it is really hard to survive in this city until you are getting a good pay and an amazing job. The total GDP of $687 billion which is really high. This is one of the wealthiest region in the France or even entire Europe.
Now let us look upon the price of living in Paris. If you wish to get settled down here then it is not going to be easy for you. For a 900 square feet apartment in even a normal area, you need to pay a monthly rent of $2,250. And you need to pay additionally for the other utilities an amount of $170 monthly.
Thinking about treating yourself with some clothes, well then you need to pay $102 for a Levis or similar jeans and the price is $146 for leather shoes. Planning to visit your doctor on a monthly basis? Well, get ready to lay out $29 for a short visit.
Not only this, but in one of the most expensive states to live in Europe, have you needed to pay $486 for a 40” flat screen TV. Well, entertainment has its own cost here. This is not going to be easy to live in Paris in 2022.
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The 7th pick in the category of most expensive states to live in is Geneva hailing from Switzerland. This is the second pick from Switzerland as it also includes Zurich on 3rd spot. This is the 2nd most populous city in Switzerland after Zurich having a population of 198,072.
Geneva is one of the strongest financial sector having a personal banking of $1 trillion which is really high. Now, we are going to talk about the major expenses to live in this state. You must know that the cost of living in Geneva is 32.38% higher than New York.
If you are a single person living in Geneva, then your monthly expenses would be around $1,430.28. Planning to dine out in a mid-range restaurant? Well, get ready to pay $100 for a three course meal out there.
In fact everyday survival do not come handy too. You need to spend $6.10 for 1 gallon of milk. However, the place is a shear natural beauty so you would not have to pay much more than $2 for any 1 lb fruits. In fact the basic amenity of Internet (10 mbps) is going to cost you $53.86.
Moving towards to the education of your child in one of the most expensive states to live in. This is going to cost you $2097.34 monthly for the study of your child in kindergarten. However, the price of buying or renting an apartment would be nominal as compared to New York. It would cost you $1206.20 per square feet in the central area of city.
The average salary of people out here is $5300 after tax to survive here.
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Seoul is the capital city of South Korea as well as one of the most expensive states to live in according to the recent reports. Seoul has acquired 6th spot in this list. It has a huge population of 10,290,000 people and a GDP of $779.3 billion. Which means per capita GDP is $35,782.
Seoul is a very developed and important city of South Korea and contributes a lot to the nationwide economy. Now, we are going to talk about the expenses needed to survive in this city on annual or monthly basis.
Starting from the basic amenities, if you are dining out then you need to pay $35.73 for 2 people and three course meal at a mid-range restaurant. Thinking about grabbing 1 pint beer, well get ready to pay $3.13 for that.
Prices of milk is higher than that of Geneva here. For a gallon of milk, you need to pay $8.42. At that price, I can leave drinking milk. For the basic connections like electricity, water, garbage etc. on monthly basis, you would have to pay $178.21.
The leisure activities also do not come handy in such most expensive states to live in South Korea. You would have to spend $56.81 for the subscription to a fitness club for a month. And when talking about cinema, then booking 1 seat would cost you $8.93.
Now talking about buying an apartment, which can be a relief for you. For 1 bedroom apartment rent in central part of the city, you need to pay $815.65. The average expenses per person apart from rent is $952.76 in Seoul.
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Osaka is a major city in Japan which is our 5th pick in the category of most expensive states to live in. The population of Osaka is 2,668,586 and it is one of the most productive hinterlands in the world. The greater Osaka area yields a GDP of $341 billion.
It is the time that we should better look at the cost of living in Osaka. Starting from the meal for 2 at a mid-range restaurant for a three course then you would have to pay $26.77. And thinking about grabbing an imported beer, then get ready to pay $4.46 just for a small bottle.
In terms of buying regular grocery items, you may find a relief in it as compared to Osaka. For a gallon of milk you need to pay $5.58 and 1lb beef it is $10.52. However, for 1 lb of fruits, you need not to pay a penny over than $2.
Talking about the basic monthly connections of electricity and water etc. you need to pay $163.23 for 915 square feet apartment. Whereas, leisure activities are costlier than Seoul. For one month subscription to fitness club, you need to pay $77 here.
Now moving to the rental and buying cost in one of this most expensive states to live in, you need to pay a rent of $667.95 for 1 bedroom apartment. However, average monthly net salary in this area is $2,255.38.
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Another one from Japan in the category of most expensive states to live in, is Tokyo which is also the capital city of Japan. There is a massive population of 13 million living in this city. The GDP yielded by this state is $1.0 trillion which in return gives a per capita GDP of $70,000 which is really high as compared to other states listed here.
Talking about the cost of living in the Tokyo, we would start from the meal. For a meal of 2 in a mid-range restaurant, you need to pay $46.40. A regular cup of cappuccino would cost you about $3.50 in this city.
However, basic needs like milk is not coming cheap or affordable here. A gallon of milk would cost you $6.71 in Tokyo. Even 1lb amount of local fruits is costlier than any other cities here. For 1lb of apple you would have to spend $3.12.
Local transport is however quite cheap as one way ticket would cost you $1.61 from local transport. The monthly subscription of water, electricity, heating and garbage comes with an expenditure of $175.50.
In fact, in such most expensive states to live in Japan, you need to spend even more on leisure activities. For one month of fitness subscription, you need to pay $89. As far as 1 movie ticket is concerned then get ready to pay $16 for that.
If you are thinking about buying some property in Tokyo then it is not going to be easy for you. To get settled in the central city zone, you need to spend $1380.59 per square feet. It is quite a big deal to get settled in such states.
Zurich is a beautiful and the largest city in Switzerland. This is also the 3rd most expensive states to live in. You have already read the cost of living in Geneva which is also a city in Switzerland so you can make out how expensive it is to survive in Switzerland.
Starting from the basic thing like eating out in Zurich then the prices are really high. For a three course meal for 2 people in mid-range restaurant in Zurich, you would have to pay about $109.86. Well, that is quite high than other states.
The price of regular milk of 1 gallon amount is still quite ok which is $5.94 but 1lb of beef would cost you $23.36. In fact grabbing a small water bottle can cost you about $4 in Zurich. As a comparison, cost of living in Zurich is 36.95% higher than that of New York.
Once you get settled in such most expensive states to live in, then you would have to pay $2097.34 for the education of your kid in just kindergarten. In fact rent of 1 bedroom apartment is quite high, $1831.48 in Zurich. As a whole the average monthly salary of $5783.81 is given to people which is really needy for their survival.
2). Hong Kong
Hong Kong is basically an autonomous territory in southeastern part of China. Hong Kong is a well-developed and advanced city in today’s time and it used to be a British Colony in earlier times. This belongs to China and hence it is highly populated area too.
Cost of living in Hong Kong is 3.67% higher than United States apart from the rent. If we talk about rent then it is 110.80% higher in Hong Kong as compared to United States. It is one of the most expensive states to live in and stands on the 2nd spot on the list.
The cost of 1 gallon milk is way higher than any other states listed here which is $10.77. This is like having a meal in India. All other grocery items like fruits and vegetables are affordable though.
The basic utilities like electricity, water, heating and garbage for a month is $182.59. The education is affordable as compared to other states which is $566.24 per month for kindergarten.
The rent to live in this city is quite higher. For one bedroom apartment in City Centre you would have to pay $2205.56 monthly. In such most expensive states to live in, you cannot even think about buying an apartment as it is $2331.28 per square feet.
Now, we are talking about the most expensive states to live in, and it is the 1st spot city in them i.e. Singapore. Singapore is a republic in southeast part of Asia. The total population living here is 5,607,300 and the total GDP is $486.910 billion which gives a per capita GDP of $87,082.
The cost of living in Singapore is 14.47% higher than in US and as far as rent is concerned then it is 77.17% higher than in United States. Starting from the basic need of milk then it is going to cost you $7.96 for a gallon. However, other grocery items are at quite nominal charges.
The internet connection of 10 mbps would cost you $30.20 which is higher than other most expensive states to live in. Talking about the primary school for 1 year for a child then his education would cost you $20,267.54 which is also very high.
The rental price of 1 bedroom apartment in central area of city would cost you $2059.58 per month. The average monthly salary of people is $3,103,08 after tax out here to survive the charges.
The description given above is comprised of different services offered out there. It also contains the cost of shelter and lease in the respective states. Living in these places is not simple until you are making good amount of money. So, before getting settled into these most expensive states to live in, you must check out the prices.
This calculation of cost of living is done in the March month of every year. According to the March, 2022 this list was formed.
However, there is a fact that Geneva and Paris are tied on the 7th spot whereas, New York and Copenhagen was tied on 9th spot. Thank your parents, folks that they are leaving in a much affordable place.