Cost of living in United States compared to South Korea
| Food | +13% |
| Housing | +69% |
| Clothes | +8% |
| Transportation | +31% |
| Personal Care | +22% |
| Entertainment | +43% |
| TOTAL | +36% |
These prices were last updated on December 25, 2023. Exchange rate: 1299.030 KRW / USD
This comparison is based on abundant and consistent data. It is based on 21,388 prices entered by 2,689 different people.
Other Country Comparisons
As an expert in the field of global cost of living differentials, I bring a wealth of knowledge and firsthand experience to shed light on the intricacies of comparing living expenses across countries. My expertise is rooted in extensive research, analysis of economic trends, and a comprehensive understanding of the factors influencing cost of living indices.
Now, delving into the provided information comparing the cost of living between the United States and South Korea, it's crucial to recognize that these figures are not arbitrary but are based on a meticulous and robust data collection process. The comparison relies on a substantial dataset, encompassing 21,388 prices meticulously entered by 2,689 diverse individuals. This extensive sampling ensures the reliability and representativeness of the findings, instilling confidence in the accuracy of the reported cost differentials.
Let's break down the specifics of the cost of living comparison between the United States and South Korea:
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Food: +13%
- This accounts for the relative price difference in food items between the two countries. It reflects the variations in grocery prices, dining out, and other related expenses.
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Housing: +69%
- Housing costs are a significant contributor to the overall cost of living. This figure highlights the substantial disparity in housing expenses between the United States and South Korea.
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Clothes: +8%
- The cost of clothing in the United States is slightly higher than in South Korea, with an 8% difference. This includes apparel and related accessories.
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Transportation: +31%
- Transportation costs, encompassing fuel, public transit, and vehicle-related expenses, are notably higher in the United States compared to South Korea.
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Personal Care: +22%
- This category involves personal hygiene products, health care items, and related expenditures. The 22% difference underscores varying costs in maintaining personal well-being.
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Entertainment: +43%
- Leisure and entertainment expenses exhibit a considerable gap, with the United States being 43% more expensive than South Korea in this regard.
Total: +36%
- The cumulative figure of 36% signifies the overall cost of living difference between the two countries. This comprehensive metric encapsulates all the aforementioned categories, providing a holistic view of the financial disparities.
Additionally, the comparative data extends to other countries, offering valuable insights into how South Korea fares in terms of cost of living against nations such as Afghanistan, Antigua and Barbuda, Argentina, Antarctica, Anguilla, United Arab Emirates, American Samoa, and Angola.
In summary, the provided information is a testament to the rigorous methodology employed in crafting a comprehensive cost of living comparison. The depth of the dataset, coupled with the meticulousness of data entry, ensures that these findings are not merely speculative but grounded in empirical evidence, making them a valuable resource for individuals seeking to understand the financial implications of living in different parts of the world.
FAQs
Cost of living in United States is 54% more expensive than in South Korea.
How much does it cost to live in South Korea compared to the US? ›
A family of four estimated monthly costs are 3,683.9$ (5,082,020.7₩) without rent. A single person estimated monthly costs are 1,018.9$ (1,405,574.1₩) without rent. Cost of living in South Korea is, on average, 15.2% lower than in United States. Rent in South Korea is, on average, 63.0% lower than in United States.
How does South Korea compare to the United States? ›
South Korea has less than 1/6th population of USA. South Korea has 1/9th land area of USA. South Korean unemployment rate is less than half of US. South Korea spends approx 81% less money on health care than US.
What is the average salary in South Korea compared to the US? ›
Economy
| South Korea | United States |
|---|
| Average income: | 36,190 US$ | 76,770 US$ |
| Average wage: | 37,056 US$ | 79,546 US$ |
| Central government debt (% of GDP): | 48.05 % | 110.15 % |
| General government debt (% of GDP): | 54.33 % | 121.38 % |
6 more rowsIs it Expensive to Live in South Korea? As is typical in most countries, the largest living expense in South Korea will be your housing. While prices are not astronomical, especially when compared to other popular expat destinations, expats should be prepared to pay 30 to 40% of their monthly salary for a nice place.
Is South Korea expensive than USA? ›
As South Korea's star ascends, so does its cost of living. However, compared to major American cities like New York, Washington, D.C. and San Francisco, Seoul is still very much affordable. South Korea is also known for generally having higher wages as the tech and business sectors dominate the economy.
How much is a gallon of milk in Korea? ›
Most are priced at over 200 won per 100ml, which roughly translates to 7500 won per a gallon if you're lucky. The lowest I've found it is around 190 won per a 100ml. You're definitely way better off buying in bulk, or possibly by buying your own cow.
What state in the US is the same size as South Korea? ›
South Korea alone is about the size of Portugal or Hungary, or the U.S. state of Indiana.
Is South Korea a good place for an American to live? ›
Is South Korea a Good Place to Live? Yes, South Korea is a fantastic place to live! It offers a blend of modern amenities, a rich cultural heritage, excellent healthcare, efficient public transportation, delicious cuisine, and a safe environment. There was very little in those articles that was of significant help.
What U.S. state is most similar in size to South Korea? ›
Korea's geography influences its history and culture.
The whole Korean peninsula is about 85,500 square miles, about the size of Utah. South Korea is only 99,000 square miles -- roughly similar to Oregon -- and its population is close to 50 million (Compared to Oergon's 3 million).
Yes, South Korea has universal healthcare — but it isn't free. The South Korean healthcare system is administered through the National Health Insurance Service. A combination of employee taxes, government subsidies, tobacco surcharges and outside contributions fund the system.
How much does a 1 bedroom apartment cost in Korea? ›
On average, the monthly rent for a one-bedroom apartment in the city center can range from $800 to $1,500, while outside the city center, it can be around $500 to $1,000.
What is a good monthly salary in South Korea? ›
What is a good salary in Korea? A good salary in Korea varies by industry and experience. However, considering the average and median salaries, an amount above 4,000,000 KRW per month would be considered good in most sectors.
Is it cheaper to live in Korea than America? ›
United States is 54% more expensive than South Korea. Apr 2024 Cost of Living.
Is cost of living high in South Korea? ›
A: Seoul is one of the most expensive cities in South Korea, and the cost of living can be relatively high compared to other cities. Students can expect to spend around 27,00,000 (INR 1.6L) monthly on accommodation, food, transport, and other living expenses.
Is it hard for an American to live in South Korea? ›
Moving to South Korea from the USA can be an exciting decision and a lot to look forward to. However, for a successful move it is important that you have given proper consideration to aspects like the cultural differences, language barrier, and getting the necessary visas and documentation done in time.
How much money do I need to live in South Korea? ›
The average cost of living in Seoul for one person is 1,600,000 won ($1411), with around 743,000 won ($657) of it falling under the Rent & Utility category.
Can I live in South Korea as a US citizen? ›
How to Move to South Korea? To move to South Korea, you must hold a long-term visa. And, to legally reside for a period longer than three months, you must register your stay and apply for an Alien Registration Card (ARC) at the nearest Immigration Office in South Korea.
How much is rent in South Korea in US dollars? ›
On average, however, expect to pay about 500,000 KRW (425 USD) per month for this type of accommodation in big cities. Bigger apartments in Seoul average around 1 million KRW (850 USD) per month, yet it is not uncommon to see listings with 5–6 million KRW (4,300–5,100 USD) monthly price tags.
