Workyard, a construction workforce management software, has analyzed data from 20 cities to determine where people earn good money but don’t have to spend too much on living costs like rent, food, and utilities.
The data was compiled from government labor sources, comparing each city’s average monthly income with its average monthly living expenses for 2023. The resulting list presents cities that offer great opportunities for individuals looking for a high-earning, low-cost lifestyle.
According to July 2023 data, Kuwait tops the list of the most affordable cities in the world. Here, people typically earn about $6,199 each month, while their cost of living is only around $752.70. This means they get to keep much of their salary after covering their basic expenses, making Kuwait the most affordable city on the list.
Abu Dhabi is second on the list of the most affordable cities globally for high earnings and low living costs. On average, residents here bring home around $7,154 each month, spending about $873.10on their living costs.
Riyadh, Saudi Arabia,is the third most affordable city, where the average monthly earnings are $6,245, and the living costs come up to $814.90. Dubaiand Sharjah are the fourthand fifth on the list, with residents bringing in $7,118and$5,229per month, respectively. Living expenses in these cities are $1,007and $741.30each month.
Outside of the Middle East, Melbourne in Australia is a good place to earn and live, with the average monthly income at$7,312 and living costs at about $1,079.20. Oslo, Norway, doesn’t lag far behind, either. With residents earning around $7,543 a month and spending about $1,121.50 on living costs, it is a Nordic haven.
London andSan Francisco are8thand9th on the list, with monthly earnings of $8,411and$9,249, respectively. Living costs in these cities are a bit higher at $1,260.80and$1,440.10per month. Zurich in Switzerland rounds out the top ten. Residents earn about $9,222 monthly and spend roughly $1,815.20 on living costs.
Surprisingly, New Yorkhas the toughest challenge of balancing income and living costs. The average New Yorker only brings home about$4,205each month yet spends a steep $1,448 on living costs.
This data highlights the significant differences in the balance of income and living costs in various cities around the world. While some cities offer a hefty paycheck with minimal living costs, others provide a challenging ratio.
