Where Expat Incomes Go Far (& Where They Don’t) in 2026 

➡️You’re welcome to use these 2026 Expat Insider results. Please remember to credit InterNations as the source, and where possible, include a link to www.internations.org.

In this article:

• Methodology
• Comfortable Incomes & Content Expats in Mexico City (1st
• Low Costs & a Comfortable Life in Ras Al Khaimah (2nd)
• Affordable Living & Happy Retirees in Málaga (3rd)
• Sky-High Costs in New York City (33rd)
• Stretched Budgets in Toronto (32nd)
• A Pricey Lifestyle & Tight Budgets in London (31st)
• Trends in the Top 10
• Trends in the Bottom 10
• Personal Finance Index 2026: Full City Ranking

Methodology

The Personal Finance Index is made up of three different factors which expats rated on a scale of one (very bad) to seven (very good): satisfaction with their financial situation, general cost of living, and whether a respondent’s disposable household income is enough to lead a comfortable life.

In 2026, the ranking features 33 cities with at least 50 respondents each. Find all details in the [full article on the survey methodology.](https://www.internations.org/expat-insider/2026/methodology-2026)

Comfortable Incomes & Content Expats in Mexico City (1st)

Mexico City returns to the top of the Personal Finance Index in 2026. It last ranked 1st in 2022, followed by 5th place in 2023 and 4th in 2024 (no city ranking was published in 2025). Expats seem to be thriving there: 82% are happy with their life in Mexico City (vs. 70% globally).

The city comes 1st for two of the index’s three factors. More than four in five expats (84%) say their disposable household income is enough to lead a comfortable life (vs. 71% globally), while just 16% say it’s not enough (vs. 29%). Close to two-thirds (65%) even consider their income more than enough (vs. 42%) — the highest share among all 33 cities.

Expats are also more satisfied with their financial situation than anywhere else. Three-quarters (75%) say they’re satisfied (vs. 55% globally), and close to two in five (38%) even agree completely (vs. 20%). Fewer than one in ten (9%) are dissatisfied (vs. 24%).

Living costs are comparatively low, too: Mexico City ranks 5th for the general cost of living, with 55% positive ratings (vs. 39% globally). It also places 3rd for the affordability of housing (44% vs. 32%).

Among those who work, more than a quarter (27%) have their own business (vs. 8% globally). Mexico City also ranks 2nd for fair pay: 71% of working respondents agree they’re paid fairly for their work (vs. 58%).

Low Costs & a Comfortable Life in Ras Al Khaimah (2nd)

Ras Al Khaimah climbs from 8th place in both 2023 and 2024 to 2nd in 2026 (the city wasn’t part of the 2022 ranking).* Expats there are very happy with their life in general (84% vs. 70% globally).

No other city does better for the general cost of living (1st). Close to seven in ten expats (69%) rate it positively (vs. 39% globally), and only about one in ten (11%) have something negative to say about it (vs. 40%). A quarter (25%) even give it the best possible rating (vs. 10%). Interestingly, though, close to a third (32%) named the high cost of living among their biggest concerns before moving (vs. 21%).

The city ranks 3rd for the remaining two factors in the Personal Finance Index. More than four in five expats (85%) say their disposable household income is enough to lead a comfortable life (vs. 71% globally), and about two-thirds (65%) are satisfied with their financial situation (vs. 55%).

Affordable Living & Happy Retirees in Málaga (3rd)

Málaga ranks 3rd in the 2026 Personal Finance Index, just like in 2024. In 2023, it even took 1st place (the city wasn’t part of the 2022 ranking). Expats there are the happiest with their life abroad among all 33 cities (86% vs. 70% globally).

Málaga ranks 2nd for the general cost of living. Close to three-quarters of expats (73%) rate it positively (vs. 39% globally) — the highest share among all 33 cities. Just 11% rate it negatively (vs. 40%), and only 6% named a high cost of living among their biggest concerns before moving (vs. 21%).

Expats are financially comfortable as well. Four in five (80%) say their disposable household income is enough to lead a comfortable life (vs. 71% globally), and more than three in five (64%) are satisfied with their financial situation (vs. 55%). Málaga ranks 5th for both factors.

That’s good news for the city’s many retirees. More than a third of respondents (35%) are retired (vs. 14% globally) — the highest share among all 33 cities. One in ten (10%) originally moved there to retire abroad (vs. 4%).

Incomes tend to be modest, though. Among respondents who disclosed their gross yearly income, 43% earn less than 25,000 USD (vs. 27% globally).

Sky-High Costs in New York City (33rd)

New York City comes in last in the 2026 Personal Finance Index. The city has landed in the bottom 10 in each edition since 2022, ranking 42nd out of 50 cities in 2022, second to last (48th out of 49) in 2023, and 45th out of 53 in 2024. It also ranks last in the 2026 Quality of Life Index.

The cost of living is the biggest issue, with New York City ranking last for this factor. Only one in ten expats (10%) rate it positively (vs. 39% globally), while 82% rate it negatively (vs. 40%) — the highest share among all 33 cities. More than two in five (44%) even give it the worst possible rating (vs. 9%). Many saw this coming: more than half (52%) named the high cost of living among their biggest concerns before moving (vs. 21%).

Housing is just as pricey. Only 10% rate the affordability of housing positively (vs. 32% globally), and 80% rate it negatively (vs. 49%), putting New York City 31st for this factor.

Many respondents earn high incomes: among those who disclosed their gross yearly income, 45% earn 100,000 USD or more (vs. 23% globally), and close to one in five (18%) even earn more than 250,000 USD (vs. 4%). Yet only 62% say their disposable household income is enough to lead a comfortable life (vs. 71%), and 38% say it’s not enough (vs. 29%). Just 42% are satisfied with their financial situation (vs. 55%), the third-lowest result (31st).

Work isn’t the main reason most expats come to New York City: only 18% moved there for job-related reasons (vs. 33% globally), while 16% came to go to school or university (vs. 4%). Among those who work, only about half (52%) agree they’re paid fairly for their work (vs. 58%).

Stretched Budgets in Toronto (32nd)

Toronto ranks 32nd in 2026, after placing 46th out of 50 cities in 2022, 45th out of 49 in 2023, and second to last (52nd out of 53) in 2024.

No city does worse for disposable income. Only 56% of expats in Toronto say their household income is enough to lead a comfortable life (vs. 71% globally), while 44% say it’s not enough (vs. 29%). More than a quarter (27%) even say it’s not nearly enough (vs. 12%) — the highest share among all 33 cities.

Toronto also ranks second to last for financial satisfaction (32nd). Just 43% are satisfied with their financial situation (vs. 55% globally), and close to a third (31%) are dissatisfied (vs. 24%).

The cost of living (30th) is another weak spot. Only 12% rate it positively (vs. 39% globally), and close to four in five (79%) rate it negatively (vs. 40%). Housing isn’t affordable, either (26th): three-quarters (75%) rate its affordability negatively (vs. 49%). Before moving, 37% already named the high cost of living among their biggest concerns (vs. 21%).

The job situation doesn’t help. Around one in six respondents (17%) are looking for work (vs. 9% globally), and only 17% moved to Toronto for job-related reasons (vs. 33%). Among those who work, just over half (55%) agree they’re paid fairly for their work (vs. 58%), putting Toronto 32nd for this factor.

A Pricey Lifestyle & Tight Budgets in London (31st)

London ranks 31st in the 2026 Personal Finance Index. It’s a familiar position: the city has landed in the bottom three in each edition since 2022, ranking 49th out of 50 cities in 2022, 47th out of 49 in 2023, and 51st out of 53 in 2024.

London ranks 28th or lower for all three factors. Only 60% of expats say their disposable household income is enough to lead a comfortable life (vs. 71% globally), while 40% say it’s not enough (vs. 29%). Fewer than half (46%) are satisfied with their financial situation (vs. 55%), with London ranking 30th for both factors.

The general cost of living (28th) gets just 14% positive ratings (vs. 39% globally) and 71% negative ones (vs. 40%). Two in five expats (40%) named the high cost of living among their biggest concerns before moving (vs. 21%).

Housing is a particular sore spot. Only about one in ten (11%) rate its affordability positively (vs. 32% globally), while more than three-quarters (76%) rate it negatively (vs. 49%). Close to a third (32%) already worried about the housing market before moving (vs. 17%).

On the bright side, London ranks 12th for fair pay: 58% of working respondents agree they’re paid fairly for their work, in line with the global average (58%).

Trends in the Top 10

1. Mexico City
2. Ras Al Khaimah
3. Málaga
4. Kuala Lumpur
5. Lisbon
6. Valencia
7. Brussels
8. Vienna
9. Tokyo
10. Madrid

Six of the 2026 top 10 already made the top 10 in 2024: Mexico City, Ras Al Khaimah, Málaga, Kuala Lumpur, Valencia, and Vienna. In fact, every city from the 2024 top 10 that’s part of the 2026 ranking makes the top 10 again. The newcomers are Lisbon (17th in 2024), Brussels (20th), Tokyo (14th), and Madrid (13th). Valencia, which topped the index in 2024, ends up in 6th place.

Low living costs are the most common thread: nine of the top 10 also rank among the ten best cities for the general cost of living, from Ras Al Khaimah (1st) to Vienna (9th). The one exception is Brussels (7th), which only ranks 20th for this factor (32% positive vs. 39% globally). Instead, it ranks 2nd for both disposable income (84% vs. 71%) and financial satisfaction (69% vs. 55%), and 1st for feeling paid fairly (78% vs. 58%). Five cities — Mexico City, Ras Al Khaimah, Málaga, Lisbon, and Vienna — even place in the top 10 for all three factors.

Four of the top 10 are on the Iberian Peninsula: Málaga (3rd), Lisbon (5th), Valencia (6th), and Madrid (10th). All four rank in the top 10 for the general cost of living (Málaga 2nd, Valencia 4th, Lisbon 6th, Madrid 8th). They’re popular with retirees, too: Málaga (35%), Lisbon (29%), and Valencia (22%) have the three highest shares of retired respondents among all 33 cities (vs. 14% globally). Valencia only ranks 19th for disposable income, though, with 71% saying it’s enough for a comfortable life (vs. 71% globally). And in Madrid, two-thirds (66%) rate the affordability of housing negatively (vs. 49%).

Kuala Lumpur (4th) and Tokyo (9th) represent East and Southeast Asia in the top 10. Kuala Lumpur ranks 3rd for the general cost of living — more than a quarter (27%) rate it very good, the highest share among all 33 cities (vs. 10% globally) — and 2nd for the affordability of housing (55% vs. 32%). That’s even though 43% of respondents there who disclosed their gross yearly income earn less than 12,000 USD (vs. 15% globally). Tokyo ranks 7th for the cost of living (50% vs. 39%) and 4th for housing affordability (51% vs. 32%). In both cities, though, financial satisfaction is slightly below average (52% in Kuala Lumpur and 54% in Tokyo vs. 55% globally).

Singapore (11th) just misses out on the top 10 and shows the opposite pattern. It ranks 4th for both disposable income (80% vs. 71% globally) and financial satisfaction (70% vs. 55%), but only 25th for the general cost of living (20% vs. 39%).

Trends in the Bottom 10

24. Abu Dhabi
25. Geneva
26. Berlin
27. Munich
28. Zurich
29. Istanbul
30. Dublin
31. London
32. Toronto
33. New York City

Half of the bottom 10 also ranked there in 2024: New York City, Munich, Dublin, London, and Toronto. All these cities except for Munich have even been part of the bottom 10 in each edition since 2022. Singapore (47th in 2024) and Paris (44th), on the other hand, leave the bottom 10 behind in 2026, ranking 11th and 18th, respectively.

English-speaking cities make up the bottom four: Dublin (30th), London (31st), Toronto (32nd), and New York City (33rd). All four rank 28th or lower for the general cost of living and 26th or lower for the affordability of housing. Dublin comes in last for housing affordability: only 5% rate it positively (vs. 32% globally), and 88% rate it negatively (vs. 49%). Half of the expats there (50%) named the housing market among their biggest concerns before moving (vs. 17%) — more than in any other city. Interestingly, Dublin does much better for financial satisfaction (13th), with 59% satisfied with their financial situation (vs. 55%).

Switzerland’s Geneva (25th) and Zurich (28th) show that high incomes don’t guarantee a top result. Among respondents who disclosed their gross yearly income, 55% in Geneva and 60% in Zurich earn 100,000 USD or more (vs. 23% globally). Zurich ranks 10th for disposable income (76% vs. 71%), and Geneva 7th for financial satisfaction (60% vs. 55%). But the cost of living is a major drawback: Zurich ranks 32nd, with just 6% positive ratings (vs. 39%) — the lowest share among all 33 cities. Geneva ranks 29th, and more than a third of expats there (38%) give the cost of living the worst possible rating (vs. 9%). Before moving, more than half the respondents in Zurich (56%) and Geneva (54%) already named the high cost of living among their biggest concerns (vs. 21%).

Berlin (26th) and Munich (27th) represent Germany in the bottom 10, while Frankfurt am Main (16th) and Hamburg (21st) end up mid-table. Berlin ranks last for financial satisfaction: only 42% are satisfied with their financial situation (vs. 55% globally). That’s quite a change for a city that ranked 7th in the 2022 index; it has since placed 28th in both 2023 and 2024. Munich, which joined the bottom 10 in 2024 (48th), struggles most with costs. It ranks 26th for the general cost of living (15% positive vs. 39%) and 30th for the affordability of housing (8% vs. 32%).

Istanbul (29th) and Abu Dhabi (24th) round out the bottom 10. In both cities, comparatively few expats say their disposable household income is enough to lead a comfortable life (57% in Istanbul and 60% in Abu Dhabi vs. 71% globally). Among respondents who disclosed their gross yearly income, a third in Istanbul (33%) and close to two in five in Abu Dhabi (38%) earn less than 12,000 USD (vs. 15%). Istanbul (24th) also struggles with the cost of living (16% positive vs. 39%), whereas Abu Dhabi ranks 13th. Abu Dhabi is also the only Emirati city in the bottom 10, with Dubai ranking 20th and Ras Al Khaimah 2nd.*

*) Please note that this year’s Expat Insider survey was conducted by InterNations from 1 February to 31 March 2026. Since data collection took place both before and after the outbreak of the US-Iran war, the findings should be interpreted as only partially reflecting its impact on expats living in the UAE.

Personal Finance Index 2026: Full City Ranking

Overall index rank and factor ranks out of 33 cities (the index has no subcategories; tied factor averages share a rank).