The Cheapest City To Live In The World

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
The Cheapest City To Live In The World

© Public Domain / Wikimedia Commons

The cost of living in America can vary widely from city to city. The coastal cities are usually the most expensive based on income and cost of living. New York, Los Angeles, and San Francisco are expensive cities. Often, cities in the South and Midwest have lower living costs. Discover the most affordable big cities.

When the lens of expensive and cheap cities is opened to global metros, some US cities are near the top. On the other hand, in the poorest countries, city living costs can be remarkably low, according to a new study from The Economist. No American city is on the least expensive list, while New York, Los Angeles, and San Francisco are among the ten most expensive in the world.

The Economist looked at 173 cities in its Worldwide Cost of Living study. The study examined everything from energy costs to food to transportation costs to rent. The cities with the highest scores were Zurich and Singapore, each of which got 104 points. The least expensive was Damascus, which received 13. Damascus has a population of 2.5 million people.

Damascus has been called the oldest capital in the world. It is the capital of Syria. It appeared on another list recently. It ranked last on the Global Liveability Study because, among other things, of poverty and violence.

Syria is a brutal place to live. The CIA Factbook researchers wrote, “According to a June 2022 UN estimate, the death toll resulting from the past 10 plus years of civil war is more than 306,000.” Over six million Syrians have been displaced because of the unrest.

Syria’s demographics are a sign of the terrible lives of its residents. The median age at death is 74.6, ranking 137th among the world’s nations. GDP per capita at $2,900 ranks 198th. Human trafficking is at high levels compared to most countries in the world.

Damascus is unlikely to rise on the list because of the country’s civil war and poverty. It may be inexpensive to live in the city, but who would want to?

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618