In 2022, Vienna was recognized for the third time in a row as the city with the best living conditions according to the Economist Intelligence Unit (EIU). The capital of Austria consistently holds leading positions in other similar ratings, for example, it held the first place in the Mercer rating, which assesses the quality of life for 10 years in a row. At the same time, the cost of living in Vienna is lower than in a number of other European capitals and megacities. According to the Numbeo portal, at the beginning of March 2023, consumer prices excluding rent in London
were 19.5% higher than in Vienna. When including rental housing in the calculation, the difference increases to 58%, since rental prices in the UK capital are 161% higher. In Berlin, the cost of living both without and including rent is higher than in Vienna, by 10% and 19%, respectively. In Zurich, prices are almost twice as high as in Vienna; by 92% without rent for real estate, and by 107% taking the rental cost into account.
As stated by Numbeo, in Vienna as of March 2023, one person will need approximately EUR 1,400–2,160 an average for living, including rent, and a family of four people – from EUR 3,860 to EUR 4,460. At the same time, about 30.3% of the total cost structure is dedicated to rent, 27.4% of the budget is for purchases in supermarkets and 16% is allocated to spending in F&B establishments.