Is living in Hong Kong expensive?

Yes, Hong Kong is expensive, with the cost concentrated almost entirely in housing. The moderate single-person benchmark is $3,725 a month, above the US average of $3,525 and well above Tokyo ($2,325), but below Singapore ($4,450) and NYC ($5,775). The composition is what makes Hong Kong unusual: housing accounts for around 60 percent of the moderate budget, the highest housing fraction in the cache. Outside rent, day-to-day costs are reasonable. A meal at a local cha chaan teng runs HKD 50 to 90, a metro ride HKD 5 to 15, and groceries at wet markets and chain supermarkets are competitive with Western cities. Hong Kong’s flat-rate salary tax (capped around 15 percent) softens the housing hit for high earners. For the full breakdown, see our Hong Kong cost of living page.