The Burrow
May 28, 2024
When it comes to moving out of your family home, you have a few options: you might choose to live with your partner, your friends, or on your own. Solo living has become increasingly popular across the world over the years, with one study showing that the number of one-person households in the USA has doubled over the last 50 years.1
Living alone has many benefits – a key one being you don’t have to compromise on where you live or what you do. However, having access to amenities and being able to socialise are crucial, too.
As home loan experts, we wanted to see the best cities in the world for living alone, so we analysed a number of factors – from the social point of view such as the number of bars and gyms, through to safety and financial aspects, including average wages and mortgage interest rates. So, read on to discover where in the world is best to live alone…
Geneva storms the leaderboard as the best city in the world for living alone, for several reasons. Not only does the city boast the joint second highest average income, at AU$147,055; but it has the joint lowest mortgage interest rates (2.42%), as well as the joint lowest CPI score (106.8%).
So, whilst Switzerland is known for being one of the most expensive countries in the world, it does have high salaries in its favour; and the fact that the cost of a basket of goods has changed the least, coupled with its mortgage rates, means it could be a good option for people looking to buy alone.
Of course, for many people living alone, lots of opportunities to socialise is key, and Geneva has these in abundance –the city boasts the most bars per 100,000 people, at 85.33. It also has the second most bookstores per 100,000 people too, at 14.68, when you need some time by yourself with a new book.
Switzerland’s showing the rest of the world how living alone should be done, with its largest city, Zurich, in second place. CPI scores, mortgage interest rates, and average incomes are the same as Geneva; and Zurich itself also has a thriving bar scene, in third place, with 49.16 bars per 100,000 people – perfect for catching up with friends.
However, one of the most important things about living alone is feeling safe and secure, and Zurich can help provide that, with its safety score of 77.7 the third highest on our list.
Helsinki is officially the third best city for living alone, with the highest happiness score in the world, at 7.8. Finland’s capital also came in fifth place for safety, and, with 43% of people living in one-person households (the third highest on our list), it highlights how commonplace it is in Helsinki, showcasing its affordability.
If you’re considering making the move to Helsinki as a single person, then Kallio is a great option, with lots of galleries, coffee shops, and bars on its doorstep; with Töölö another popular suburb for young professionals.
Australia’s highest scoring city comes in a very respectable fourth place, with Canberra another great option for solo living. Socialisation opportunities here are big, with the city boasting the most gyms per 100,000 people (42.15). It also has the third most bookstores per 100,000 (10.33).
Salaries here are fairly high too, at an average of $93,694 on our list, which is the joint 7th highest overall, which should give you enough disposable income to go out and meet new people.
Norway’s capital has the highest average annual income, at around $147,101, offsetting its expensive living costs. The city also has the highest percentage of one-person households than anywhere else in the world, at 45.8%.
Couple that with the fact that its citizens are the fourth happiest, with an overall score of 7.32, and you can assume that not only is it financially viable to live on your own in Oslo, but people are pretty happy to do so! If you’re considering relocating to Oslo, then look at Grünerløkka, which has lots of independent bars, shops, and restaurants on your doorstep.
In sixth place for solo living is Amsterdam, with its mortgage interest rates the third lowest on our list, sitting at 2.55%, making buying a property here a more viable option than many other cities.
Amsterdam also ties in third place with Stockholm for happiness, and nearly four in 10 of its households are made up of just one person, showing just how enjoyable it can be to live alone here.
Copenhagen makes it into seventh place for living alone, and for good reason. 44.1% of its households are just one person (the second highest on our list), and it scores second for happiness too, showing people are content living alone.
Much like the rest of Scandinavia, Copenhagen’s average salary is high, at around $113,221 per year, to help you save for a deposit. And, the city is the sixth safest, with a score of 74.01 – something that’s crucial if you’re living alone. Look for properties in Vesterbro and Nørrebro if you’re planning on living alone – not only do they have the best nightlife in the city, but properties tend to be more affordable here, too.
Graz is the eighth best place for solo living, with it having the fourth most bars per 100,000 people (48.07) – ideal for date nights and hanging out with newfound friends. The city’s population is also happy as a whole, with its score of 7.1 making it the joint sixth highest with Vienna; and it also scored the ninth highest for safety.
If you’re considering moving to Graz on your own, then some neighbourhoods you should look in are Geidorf and Lend. Geidorf is close to pretty Hilmteich Park and Leechwald Forest, but is also close to the university, meaning there are lots of coffee shops and bars nearby, and Lend is home to several art galleries and creative spaces, making it a great place to meet likeminded creative people.
Manchester is the highest scoring UK city, making it into a respectable ninth place due to its socialisation opportunities. Not only does the city have the second most gyms per 100,000 people, at 38.94 (an ideal way to meet new people), but it also has the seventh most number of bookstores per 100,000 people, at 8.85, when you want some quiet time by yourself.
If you want to be in the heart of the action, then consider living in and around the city centre, with Northern Quarter, Ancoats, and New Islington all popular options. Alternatively, if you want to live a little further out, then consider Chorlton, Didsbury and Media City – all of which have tons of amenities on their doorsteps, and a thriving community that’s perfect for those who live alone.
Rounding off our top 10 cities for solo living is Cyprus’ capital, Nicosia. There are plenty of places to meet people and socialise, or have some time for yourself, with the city boasting the most bookstores per 100,000 people (20.45), as well as the second most bars (51.88), and the fifth most gyms (35.92).
However, another key consideration of living alone are the costs associated with it. Nicosia has the third lowest CPI score, meaning the cost of a basket goods has changed less than many others on our list.
Whilst most of our top 10 cities scored top for the factors analysed, there are some other cities of note. After Geneva, Zurich, and Amsterdam; Zagreb has the lowest mortgage interest rates, at 2.91%, with those four cities the only places where they’re under 3%.
None of our top 10 fared well for cheap utility costs: they’re actually cheapest in the Argentinian cities of Cordoba and Buenos Aires, at $129.01, followed by Sao Paulo and Rio de Janeiro, at $194.63.
Munich and Zagreb are the safest cities on our list, with a score of 78.9 and 78.4 respectively (placing 14th and 45th overall); and none of our top 10 scored well for searches for “friendship app”. London had the highest search volumes, at 3,840 over the course of 12 months, followed by New York City (3,120), then LA and Sao Paulo (1,680).
Buying your first home on your own is extremely exciting, particularly when you can decorate it exactly as you please. However, it can be more challenging saving for the initial deposit when there’s only one of you saving up, instead of two.
However, there are a few things to do that can help you along the way when getting your foot on the property ladder.
It might sound obvious, but when it comes to starting your property search, be realistic about what you can afford to save yourself heartache further down the line.
Ultimately, mortgage lenders won’t let you borrow as much if you’re buying on your own, compared to if you were buying with someone else – but on the plus side, it means your mortgage will be smaller.
Depending on how much you can afford, and if you’re willing to buy a new build, you might want to take advantage of shared equity. It can differ from country to country, but for example, you may be able to borrow a loan from the property developer that’ll help to boost your deposit.
You’ll typically then repay that loan while you’re paying off your mortgage, but interest rates tend to be on the lower side.
When you’re buying a house, it’s not just the deposit you’ll need to save: you’ll also want to have money set aside for the solicitor fees, as well as removal costs, and any other relevant fees like property and pest inspection reports. So, when you’re putting money aside for your deposit, don’t forget that you’ll want to have a buffer that will cover those extras.
General Manager of Money at Compare the Market, Stephen Zeller, states: “Buying your first home is so exciting, but there are so many things you’ll need to consider – especially if you’re buying on your own. From nearby amenities, through to the safety of the location, and the costs of buying and running a property, these are just some of things you’ll need to bear in mind.
When looking at a home loan, Mr Zeller notes that comparing interest rates can make a massive difference to how much you could pay over the course of the loan.
”A small difference in the percentage interest you pay can save you thousands of dollars over the course of the loan. It pays to compare, whether you are a home owner on your own or in a relationship.”
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Methodology:
This dataset ranks 50 cities, based on how good they are for living alone. To do this, 11 different factors were used. Once the data for the factors was collected, the factors were then normalised, to provide each factor with a score between 0 and 1. If data was not available, a score of 0 was given. The normalised values were then summed, to give each location a total score out of 10. The locations were then ranked from highest to lowest, based on their total scores.
The factors used are as follows:
The factors were indexed as follows:
All data is correct as of 12/04/24. The ranking data shown is a compilation of multiple data sources and may not be representative of real life. All data is accurate with regards to the sources provided. Currency was converted to AUD using a conversion rate of 1 USD – 1.54 AUD.