Surprise! NYC is world’s most expensive city

UBS: New York blends high prices and relatively low wages

New York /
Sep.September 23, 2015 08:01 AM

It’s not just the rent. The price of everything in New York is damn high.

Our town is the most expensive on Earth, combining high prices for both rent and goods and services with relatively low after-tax wages, according to a study by Swiss megabank UBS.

The city’s closest competitors, Zurich and Geneva, have more expensive stuff, but New York takes the title with its high rents and comparatively miserly median pay rates.

The American cities close the top of the scale were Chicago, at 7th place, Miami at 11th and Los Angeles at 13th, the Wall Street Journal reported.

The study also found that New Yorker work an average of 1847 hours a year and take 27 days of paid vacation. City residents have to work 11 minutes on average to afford a Big Mac, and 24 hours to afford an iPhone 6. [WSJ] – Ariel Stulberg


Related Articles

arrow_forward_ios
From left: Joseph Strasburg, Jay Martin, and Jim Whelan (Getty)
Real estate’s wish list: Industry’s priorities for 2023
Real estate’s wish list: Industry’s priorities for 2023
Equity Apartments' Sam Zell and 155 Washington St Ste A in Jersey City (Equity Apartments, 
Getty)
Sam Zell’s hard lesson about Jersey City rent control
Sam Zell’s hard lesson about Jersey City rent control
From left: Landlord attorney Sherwin Belkin and Housing Rights Initiative executive director Aaron Carr (Getty, NYC Department of Finance, Housing Rights Initiative)
Tenants predict wins in 421a overcharge suits. Landlords beg to differ
Tenants predict wins in 421a overcharge suits. Landlords beg to differ
Attorney General Letitia James (Illustration by Kevin Rebong for The Real Deal)
For rent law cheaters, the ultimate punishment: Endless stabilization
For rent law cheaters, the ultimate punishment: Endless stabilization
Attorney General Letitia James (Getty)
AG nails landlord for breaking rent law, promises more to come
AG nails landlord for breaking rent law, promises more to come
CHIP executive director Jay Martin (LinkedIn, iStock / Photo illustration by Priyanka Modi)
Landlords called it: Vacancy rate jumps, rent-stabilization stays
Landlords called it: Vacancy rate jumps, rent-stabilization stays
Landlord who created fake tenants will repay real ones but avoid fines
Landlord who created fake tenants will repay real ones but avoid fines
Landlord who created fake tenants will repay real ones but avoid fines
Housing Justice for All’s Cea Weaver and Rent Stabilization Association’s Joseph Strasburg (Illustration by Ilya Hourie for The Real Deal)
The benefits and costs of “good cause” eviction
The benefits and costs of “good cause” eviction
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...