As a twenty-something adult living in London, I’ve found that one of the most popular topics of conversation at any party is, ‘how much are you overpaying for your tiny room in a shared flat? It’s a depressing game, and one probably not played in other cities around the world, because according to this infographic, Londoners pay the most for housing out of all major city residents. But how do cities stack up according to other metrics?
After all, cost of living doesn’t just take into account how much you’re spending, but also relates to how much you’re earning. (Though some careers pay well) Those Londoners, who pay an average £13.1k per square meter of living space, earn about £1780 a month after tax. (Or, at least, that’s the UK average- which would certainly be lower than the London average). Meanwhile, residents of Cape Town pay an average £2k per square meter of living space, and take home an average £884 per month. Still seems like a pretty good deal, in comparison.
The graphic only gets more depressing for UK readers, as it claims average salaries are 30.65% higher in the US than in the UK. Of course, that doesn’t take into account universal healthcare, cheap university tuition, and a social safety net. Numbers can sometimes miss the intangible factors that make all the difference.4.5k