It’s no secret that Boston is an expensive place to live relative to other cities in the United States, but it’s also making its mark on the world stage, according to data site Numbeo.
According to Numbeo’s Cost of Living Index by City 2024 Mid-Year, Boston ranked fifth most expensive, behind Geneva, Switzerland, Zurich Switzerland, New York City and San Francisco.
Numbeo describes itself as the world’s largest cost of living database, based on data it crowd sources from around the world. Cost of living is determined by looking at a variety of factors, including the cost of things like rent, groceries, utilities, transportation, and child care as well as leisure activities like sports or eating at a restaurant.
According to Numbeo’s data, a family of four’s estimated monthly costs in Boston comes to $5,320, without rent. For a single person, those costs are around $1,460. The city is about 12.8% less expensive than New York City, which was ranked the most expensive in the U.S.
When looking at rent, Boston ranks the second most expensive in the world for a one bedroom with an average around $3,115 near the city center, according to Numbeo data.
There is some good news to come out of all those pricey numbers. Boston ranks “very high” in Numbeo’s quality of life index, with high scores for purchasing power, safety, health care, climate and low pollution.