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San Francisco ranks amongst world’s 10 costliest cities

Photo by Alex Schultz

December 2, 2022

An aerial view of Oracle Park and the surrounding area prior to the 2022 NCAA Division I Men’s Basketball Tournament on March 26, 2022 in San Francisco.

Lance King/Getty Images

According to a new report by the Economist Intelligence Unit, San Francisco is among the 10 most expensive cities in the world.

The report was produced between mid-August and mid-September 2022. It is based on a cost-of-living survey that takes into account hundreds of factors, including the prices of goods and services, utilities, car payments and housing. A key factor behind the skyrocketing cost of living is global inflation, which the EIU has measured at 8.1% year-on-year, the highest the organization has ever recorded in its two decades of digital surveys.

At the top of the list of the most expensive cities are New York and Singapore, which are tied. It’s the first time that New York — which also now has the highest median rents in the United States, ahead of San Francisco and Boston — has won the title without hesitation. Singapore, on the other hand, has been voted the most expensive city in the world eight times in ten years, according to the EIU.

In third place is Tel Aviv, followed by a tie in fourth place between Los Angeles and Hong Kong. Switzerland’s Zurich and Geneva are at Nos. 6 and 7, respectively. San Francisco finally comes in at No. 8, four full places below LA and just above Paris (No. 9), and a tie at No. 10 between Sydney and Denmark’s Copenhagen.

Other US cities – including Atlanta; Boston; Charlotte, North Carolina; Indianapolis; Portland, Oregon; and San Diego – also saw significant cost-of-living jumps, but not nearly enough to match levels seen in New York, Los Angeles and San Francisco.

Alex Shultz is the local editor for SFGATE. You can reach him at alex.shultz@sfgate.com.

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