[ad_1]
To learn extra of The Economist’s knowledge journalism go to our Graphic Detail web page
IT IS NOT simple residing in New York. Not solely are you anticipated to share town with swarms of vacationers, trash and rats; it’s a must to pay by the nostril for that privilege. New York has at all times been costly, however in 2022 it turned the joint-most expensive city in the world—alongside Singapore—in line with a survey by EIU, our sister firm. The story on America’s west coast is analogous: Los Angeles shares the fourth spot with Hong Kong. Each LA and NYC have risen 5 locations from final yr’s world rating. The chart under reveals which different cities in North America are the priciest to stay in, and that are the most affordable.
The EIU’s price of residing index ranks 172 cities around the globe, measured in native currencies. It consists of 27 cities in North America. Of those, the 5 priciest have been all in the USA. Becoming a member of New York and Los Angeles have been San Francisco, and Houston and Minneapolis, which tied for fourth place. The price of residing is rising globally due to the financial restoration from the covid-19 pandemic and supply-chain constrictions linked to Russia’s warfare with Ukraine. However the sturdy greenback—fuelled by the Federal Reserve’s will increase in interest rates—has additionally pushed American cities up the EIU’s rating.
The south of the nation nonetheless tends to be extra reasonably priced: Atlanta, Lexington (the Kentucky one) and Charlotte are all within the backside third of the USA rating. Nonetheless, the greenback has weighed on every of those, too. They’ve risen by 42, 28 and 39 locations, respectively, on the worldwide index.
For Individuals and expats looking for a less expensive place to name house in North America, their finest wager could be to up sticks to Canada. Though it has confronted the identical problem of inflation as its southern neighbour, cities have been spared the worst due to the decrease worth of the Canadian greenback.
Toronto was ranked the most affordable main metropolis within the area. And globally, it’s sandwiched between Stockholm and Busan, in South Korea, whereas nonetheless providing a lifestyle corresponding to any main metropolis (see our chart of the most liveable cities in North America). That makes it an interesting possibility, should you can deal with Canadian winters. ■
[ad_2]
Source link
