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Houston is the most cost-effective city in the world

by Emily Marek

With many people around the country still recovering from the financial hardships of the pandemic, affordability has never been more important. In fact, according to a report from Compare the Market, internet searches for cost-effective places to live have risen by over 100% in the past 12 months.

The Australian consumer comparison service used a variety of metrics to determine which city in the world is the most cost-effective, including income tax, inflation and income, as well as the average costs for utilities and groceries.

Houston was identified as the most cost-effective city in the country — with a relatively low inflation rate and the cheapest apartments, the Bayou City is one place where residents may have extra money to spare after their weekly expenses.

That’s not all — Houston also ranked as the most cost-effective city in the world as well, rising over every international city on the list. Houston residents experience the fifth-highest average monthly income of any city on the list, so while utilities and groceries are significantly cheaper in some of the most cost-effective European cities (like Bucharest and Madrid), Houstonians more than make up the difference with their salaries.

Here are some top-line Houston figures from the report:

Income tax rate: 37%

Inflation rate: 5%

Average apartment cost per square foot: $191.79

Average monthly income: $5,407.64

Average monthly utility cost: $167.77

Average grocery trip: $36.12

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