In Hong Kong, it’s $2,871. The survey, which divides median house prices by gross annual median household income, found Hong Kong to clock in at 18.1. In general, you’ll get more bang for your buck in The States, but when working out if you’re going to be better off in either location, it’s necessary to look at all the facts so you can understand how each location will pan out for your individual circumstances. As a result, the costs for goods and services are higher, and so consumers are charged more. Cost of Living in Hong Kong. You’ll also have to spend out more for your fitness gear – an average pair of Nike trainers costs around 12% more than in the US. This covers every form of public transport you can think of: the metro, trains, buses, trams, and even the Star Ferry that crosses Victoria Harbour (be sure to get an Octopus Card for ease of travel and even cheaper fares). About half of Hong Kong residents now live in public housing estates (Chinese: 公共屋邨) and other tower blocks with some form of subsidy.The history of public housing in Hong Kong can be traced back to the 1950s, where masses of people surged into Hong Kong due to political turmoil on the mainland. This number can be as low as 6,000 HKD a month (800 US dollars) to rent a room, or living in a box like I did. The cost of living is one of them. The average net monthly wage in the USA is $2,743. For the movie lovers, the cost of seeing an international release is slightly more expensive in Hong Kong – by around 5%. Hong Kong has the smallest average house size in the world and its also the most expensive city, so its residents are having to come up with alternative solutions to regular living. In the US you’ll pay around 70% less (on a prepay basis), than your counterparts in Hong Kong. This website uses cookies to ensure you get the best experience on our website. ), 1 min. Cost of living in Pennsylvania (US) compared to Hong Kong. Hong Kong is the most expensive city in Asia (1 out of 16) Cost of living in Hong Kong is more expensive than in 96% of cities in the World (9 out of 194) List of prices in Hong Kong. Depending on what sector you work in, there’s the opportunity to earn salaries far in excess of these figures. Bottled water is also much cheaper, by about 15%. Fruit and vegetables also cost significantly less than in the US, at between 10 – 30%. I am going to put an average of 10,000 HKD ($1,200 US dollars) a month for rent on your budget. Basic lunchtime menu (including a drink) in the business district, Combo meal in fast food restaurant (big mac meal or similar), 500 gr (1 lb.) © 2009-2021 Expatistan.com, These prices were last updated on March 16, 2021. Percentage change: -1% Newsletter. Once again, those living in Hong Kong will pay more per month for the basics than those in the US. > Hong Kong vs Toronto Cost of Living Comparison Between Hong Kong and Toronto You would need around 40,889.73HK$ (6,570.21C$) in Toronto to maintain the same standard of life that you can have with 48,000.00 HK$ in Hong Kong (assuming you rent in both cities). Housing in Hong Kong is 79% more expensive than in United States. The cost of food in both countries varies wildly. Cost of Living Comparison Between Hong Kong and New York, NY You would need around 62,343.43HK$ (8,039.59$) in New York, NY to maintain the same standard of life that you can have with 48,000.00 HK$ in Hong Kong (assuming you rent in both cities). We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. However, when it comes to home Internet, The States beats HK hands down, with prices of almost 50% less. Hong Kong has an excellent public transport system – the MTR. Living in Hong Kong is a great place from where to explore Asia, to learn about the culture and to meet a variety of people.” What Do You Like About Living in Hong Kong? In Hong Kong, every inch of space is vital, whereas in many places in America there’s room to spare…. According to Mercer’s 2020 Cost of Living Survey, Hong Kong tops the list of most expensive cities for expatriates, followed by Ashgabat, Turkmenistan in second position. Learn more about traveling, living and possibly retiring in Hong Kong: http://wikitravel.org/en/Hong_Kong. “There is so much to do here. Every inch is something new. Hong Kong (1) remains the most expensive city for expatriates both in Asia and globally as a result of the housing market and currency being pegged to the US dollar, driving up the cost of living … If you want to buy your own place, the divide becomes even greater. Whether you’re looking to rent or purchase, property in Hong Kong is far dearer than in the US. Of course, purchasing or renting your apartment or house is only the first outlay. 25100 . In Hong Kong, it’s $2,871. Family of four estimated monthly costs are 3,749.02$ (29,101.60HK$) without rent (using our estimator). And if you’re looking to rent in the heart of Hong Kong, as opposed to the centre of any US city, you’ll be paying between 85 – 106% more than one Stateside. Taxi costs are also cheaper in Hong Kong, by around 34%. For instance, milk in Hong Kong costs almost 300% more than in The States, cheese is over double the price, and beef is around 80% dearer. Hong Kong is 20.93% less expensive than New York (without rent, see our cost of living index ). The MTR runs at regular intervals, and delays are a rarity. The average price of a single-bedroom apartment located in the city center shows how much of your salary would be allocated in rent expenses, and is an indicator of the cost of living of the city. $1.00 US Dollar = 7.75470 Hong Kong Dollar. However, there’s a big difference in the interest you’ll pay on a mortgage in Hong Kong to that in America – and it’s a lot less – about 40% less. ... Share "Hong Kong City" Hong Kong City. Check out these prices, for your reference. Single person estimated monthly costs: HK$43,784. A cheap meal out here will cost nearly 50% less than in America, and that king of take outs – McDonald’s, costs about 40% less as well. Monthly rent: $3,685. However, keep in mind that the standard cost of living is also a result of Singapore’s comparatively high wages. The reality of living here. The official currency in Hong Kong is the Hong Kong dollar (HKD) or HK$ on currency exchanges). Hong Kong. HKD. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. Cost of living in Hong Kong is, on average, 11.81% higher than in United States. Exchange rate: With everything in general being a lot more expensive in Hong Kong than it is in The States, you’d naturally expect average incomes to be higher. To rent a property outside of the city centre, you’ll have to splash out around 70% more in the Asian city. How expensive is Hong Kong in comparison to the USA, the UK, the EU and Australia? Consumer Prices Including Rent in Canada are 30.97% lower than in Hong Kong. Of course, that’s the average wage. You will have to pay out more for your daily cappuccino in HK – around 15% more than the average cost in the USA. PRICES . Indeed they are, but probably not by the amount you’d think. So, on average, if someone makes $50,000 in annual income, the cost … When I celebrated my 21 st birthday, my father gave me half a million US dollars to invest in a business venture and city of my choice. of prepaid mobile tariff (no discounts or plans), 1 month of gym membership in business district. It can go up to 40,000 HKD ($5,000 US dollars) a month if you want to live in Mid Levels, Central, Hong Kong. In the following comparison between the two countries (for the sake of ease, we’ll refer to Hong Kong as a country, even through it technically comes under the umbrella of China, but as a Special Administrative Region it has it’s own currency and government), we take data from up-to-the-minute crowd sourcing websites Numbeo and Expatistan. Groceries Prices in Canada are 15.69% lower than in Hong Kong. Summary of cost of living in Hong Kong. It used to rank among the top three in the past two decades in having the highest cost of living. I have been living in Hong Kong for almost three years now and decided to film a video sharing my expectations VS. Indeed they are, but probably not by the amount you’d think. Expect to pay between 960 – 1065% more to own a little piece of Hong Kong than the US. Of course, the cost of living is also relative to the average salary you’d expect to earn. Cost of Living Comparison Calculator. However, when it comes to driving (and therefore gas for the car), then the US beats its Asian counterpart by miles. Restaurant Prices in Canada are 10.90% higher than in Hong Kong. CITIES . Online salary comparison calculator to compare the cost of living standards in Hong Kong, Hong Kong and United States, Los Angeles CA. of boneless chicken breast, 0.5 l (16 oz) domestic beer in the supermarket, Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area, Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area, Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat, Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area, Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area, Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio, Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands), 1 summer dress in a high street store (zara, h&m or similar retailers), 1 pair of sport shoes (nike, adidas, or equivalent brands), Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new, Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands), Short visit to private doctor (15 minutes), Standard men's haircut in expat area of the city, Basic dinner out for two in neighborhood pub, 2 tickets to the theater (best available seats), Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert, 1 beer in neighbourhood pub (500ml or 1pt. Cost of living in Hong Kong compared to Iceland. USD You’ll also pay more for eggs (by around 16%) and chicken (20%), but in other instances, food is much cheaper in Hong Kong. Mobile version With everything in general being a lot more expensive in Hong Kong than it is in The States, you’d naturally expect average incomes to be higher. In Hong Kong the average salary is about 5% more than that in the US. Family of four estimated monthly costs are 3,753.78$ (29,139.46HK$) without rent. In the US, the average cost of rent stands at $1,671, while transport comes in at around $94. Cost of living in Hong Kong is 8% cheaper than in New York City; Cost of living in Hong Kong is 51% more expensive than in Provo, Utah; Cost of living in Hong Kong is 98% more expensive than in Beijing; Cost of living in Hong Kong is 7% more expensive than in Paris; Cost of living in Hong Kong is 112% more expensive than in Santiago We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. Public housing is a major component of the housing in Hong Kong. 0.12883 Compare International Cost of living for Students, Bachelors and Family. Cost of living in Hong Kong compared to New York (US). http://www.discoverhongkong.com/ https://www.cia.gov/library/publications/the-world-factbook/geos/hk.html. We all like a treat every now and then (or more often, depending on your preferences), and while the US is certainly not known for being expensive to dine out., it can’t hold a candle to the prices charged by restaurants in Hong Kong. For example, bread is about 27% less and rice 35%. The average net monthly wage in the USA is $2,743. Hong Kong is filled with vivacity and culture which makes it hard to get bored exploring. Depending on what sector you work in, the… We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. 7 Best Places to Live in Hong Kong for Expats, How to find Apartments to Rent in Hong Kong, How Many Days Needed to Visit Hong Kong (and What to do During Your Stay), How to Find Jobs in Hong Kong in 9 Easy Steps, How to Find Short Stay Apartments in Hong Kong Quickly and Easily. Ranked seventh globally on Numbeo, Singapore’s average monthly net salary US$ 3,160.84, ahead of Australia, Germany and the US. Of course, that’s the average wage. Gasoline costs nearly 200% more in Hong Kong than it does in the USA. That can add up to a whole lot of money over the years! 1.00 USD = 7.75470 HKD. A single person estimated monthly costs are 1,060.44$ (8,231.63HK$) without rent. Of course, the reason for this is all down to size. Cost of Living in Hong Kong. Family of four estimated monthly costs: HK$60,596. How much do things cost in Hong Kong? Rent in Hong Kong is, on average, 76.58% higher than in United States. The cost of living in Hong Kong is notably high compared to several other Asian regions. Hong Kong’s public transport is modern, clean and, most importantly, reliable. Some of the best places to search for property both for sale and rent in Hong Kong are Hong Kong Homes and Island Property. Smart Expatriation, 1st expert online solution to calculate your earnings abroad by taking into account the differential cost of living, housing costs, and … + PRO: Cheap and abundant taxis. The cost of a monthly pass here will be around 17% less than a comparable one in any US city. You then need to heat it, power it, pay for water, TV, Internet, and all the other things we want that add up to our monthly bills. A single person estimated monthly costs are 1,061.61$ (8,240.93HK$) without rent. Cost of living in South Africa compared to Hong Kong. Current as of Mar 2021. It’s bad news for those who keep fit, as gym memberships in the city come in at a whopping 107% more on average than for the same in the US.
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