Chicago Named Among Most Expensive Cities in the World

The Windy City ranked seventh on the list of priciest cities

It’s cheaper to live in Paris than it is to live in Chicago…

Chicago was recently named one of the most expensive cities in the world, according to a report by UBS.

The Windy City ranked seventh on the list of priciest cities, behind Zurich, Geneva, New York City, Oslo, Copenhagen and London.

Tokyo followed Chicago at no. 8 and Auckland and Sydney rounded out the top 10.

The report is published every three years, ranking cities around the world based on the cost of goods and services. It surveyed prices of 122 goods and services, along with earnings for 15 professions in 71 cities worldwide. 

Chicago ranked high when it came to the cost of clothing. According to the report, men and women spend more than $1,100 for new business attire. Comparatively, men and women in Paris pay about $480. Chicago was also listed as the most expensive place to shop for women, with clothing costs almost three times the average.

While the initial ranking excludes the cost of rent, Chicago’s rental prices were also listed among the most expensive.

A furnished 2-room apartment in the city costs about $2,520. In New York City the apartment would cost $4,620 and in Hong Kong it costs about $4,410.

When it comes to wages, Chicago was ranked at no. 10. The highest wages earned were listed in Zurich, Geneva, Luxembourg, New York City and Miami respectively.

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