Kyiv is among the cheapest cities in Europe: comparison of the cost of living

Kyiv has shown a relatively low level of prices for consumer goods, rental housing, food and restaurant services. Find out what place the capital took and what other Ukrainian cities were included in the list

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New data from a global cost of living ranking shows that living in Ukraine's largest cities has become much more affordable. According to the Numbeo ranking, in the first half of 2024, the cost of living in Kyiv, Odesa and Lviv decreased, and these cities were included in the list of 218 cities in the world with the highest cost of living.

How is the cost of living calculated?

The ranking is based on calculations that take into account the costs of a family of four for the main categories of goods and services. The following indicators are taken into account:

- Consumer goods. Prices for everyday goods needed for a comfortable living.

- Housing rent. The average cost of renting an apartment in different cities.

- Food products. The cost of food and drink in supermarkets and markets.

- Prices in restaurants. The cost of eating out.

- The cost of living plus rent. A composite measure that combines the cost of daily living expenses and housing rent.

- Local purchasing power. A benchmark for the average salary in a particular city.

The cost of living in New York City is taken as a baseline of 100%. This means that the lower the percentage, the cheaper the cost of living compared to New York.

Ukrainian cities in the world ranking

The current ranking, which includes 218 cities, includes three Ukrainian cities:

🔻 Kyiv ranked 199th with a 28.6% share;

🔻 Odesa - 202nd place (27.2%);

🔻 Lviv - 204th place (25.8%).

Thus, all three cities demonstrate significantly lower indicators compared to Western megacities. Thus, in 2024, the cost of living in Kyiv was only 32.3% of the price level in New York. For Odesa and Lviv, these figures were 29.5% and 28.4%, respectively.

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Comparison of key indicators

How prices in Kyiv compare to those in New York:

▪️ Consumer goods. Prices for goods in Kyiv are 72% lower than in New York.

▪️ Rental housing. Rental costs in the capital are 89% lower.

▪️ Food. The cost of food is 73% cheaper.

▪️ Prices in restaurants. Lunches and dinners in restaurants are 76% cheaper.

▪️ Average salary. Despite the decline in prices, the average salary in Kyiv is only 57% of the level observed in New York.

This data suggests a significant cost gap between Ukrainian cities and one of the most expensive cities in the world, New York.

Leaders of the ranking

The cities of Switzerland and the United States are in the lead in the cost of living ranking. The top positions are occupied by:

🔺 Geneva (Switzerland) - 101.7;

🔺 Zurich (Switzerland) - 104.0;

🔺 New York (USA) - 100;

🔺 San Francisco (USA) - 90.5;

🔺 Boston (USA) - 85.8.

These cities demonstrate a standard of living that is close to or even higher than the New York City benchmark, which highlights the significant difference in the cost of living compared to Ukraine.

To recap. Kyiv offers a unique experience for tourists seeking a deeper understanding of modern Ukraine and getting to know it in a challenging time. However, travelling to Kyiv today requires careful preparation, knowledge of current security measures and consideration of other realities. We have explained how to safely organise your visit to Kyiv, what to see in the capital and how your trip can support Ukraine in these difficult times.

Want to know more? Read the latest news and useful materials about Ukraine and the world in the News section.

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