When talking about the most expensive countries, Singapore almost always appears at the top of the list. This reputation is not just a stereotypes; the data clearly reflect it.
According to Living Cost data, the average cost of living in Singapore reaches US$3,193 per month, around 2.8 times higher than the global average. This figure places Singapore third out of 197 countries with the highest cost of living, making it the most expensive country in Asia.
Despite its high costs, Singapore is also ranked as the fourth best country to live in. The data suggest that a high cost of living goes hand in hand with strong quality-of-life indicators.
One supporting factor is the average monthly net salary of US$4,604, which, mathematically, is sufficient to cover living expenses for about 1.4 months.
Cost of Living Structure: Rent as the Biggest Burden
According to Living Cost, the total monthly cost of living for a single person in Singapore, including rent, amounts to US$3,193. Excluding rent, total expenses drop sharply to US$978. This significant gap highlights the dominant role of housing costs.
Rent and utilities for one person average US$2,215 per month, making them the largest expense category. Food costs stand at US$556, while transportation averages US$263.
A similar pattern is seen for a family of four. Total monthly living costs, including rent, reach US$6,953. Without rent, the figure falls to US$3,207. Rent and utilities alone account for US$3,746, followed by food expenses of US$1,448 and transportation costs of US$687.
These figures show that Singapore’s high cost of living is driven primarily by housing, while other necessities make up a smaller share of monthly expenditures.
Economic Indicators and Top Cities to Live In
Beyond living costs, Living Cost also records a range of economic and quality-of-life indicators for Singapore. The country’s GDP per capita stands at US$90,674, while its Human Freedom Index is recorded at 7.85. In terms of health outcomes, life expectancy reaches 82.9 years.
Singapore also has a high level of English usage, with 96.4 percent of the population being English speakers. The country’s total population stands at 6.04 million.
In the ranking of the best cities to live in, Singapore City holds the top position within the country. According to Living Cost, it ranks 7th globally (top 0.1%) among the best places to live, with an average monthly cost of living of US$3,201 and a population of around 5.87 million.
Meanwhile, Bukit Merah ranks as the second-best city to live in Singapore. The district is placed 813th globally (top 9%) in the list of best places to live, with an average monthly cost of living of US$2,909 and a population of approximately 152,000.
