London and New York are two of the major cities in the world and are also popular tourist destinations. But do you know about the cost of living at both these places? The following is a detailed comparison between the cost of living in London and in New York
It is a fact that the consumer prices in New York are about 9.60% lower than that in London but when it comes to the consumer prices including rent, New York is 2.95% higher as compared to London. In London, the rent prices are 20.98% lower than in New York whereas the restaurant prices in New York are 2.25% lower than in London. London has a total population of 8174100 whereas the total population of New York is 8336697.
Talking about the grocery prices, you would be paying 12.72% more prices if you stay in New York than if you stay in London. The local purchasing power in New York is 23.76% higher than that in London. When it comes to transportation, a one way ticket of a local transportation in London is 3 pounds whereas in New York, you would be paying 2.25$ for such a ticket.
Infact the price for 1 liter of Gasoline in London is 1.40 pounds whereas one has to pay 1.07$ for the same amount of gasoline in New York. Overall, you would require around 4015.23 pounds in New York to maintain the same standard of living that you can maintain with 3900.00 pounds in London.