Cost of living in German cities: What can the average citizen afford?

Krefeld's purchasing power is higher than that of the people of Hamburg

There are cities in Germany where life is very expensive. The costs of daily needs such as rent, energy, food, insurance and much more are sometimes significantly above average. This is not a new development. More than 100 years ago, the so-called local surcharge for civil servants and public sector employees took these differences into account. In cities with a high cost of living, people generally earn well. But ultimately it is purchasing power that counts. What can the working person in Krefeld afford with his income, what can the Munich resident afford in the expensive Bavarian metropolis. To put it bluntly: the average citizen of Krefeld, Otto Mustermann, is better off in terms of his purchasing power than, for example, people from Hamburg, Stuttgart, Bremen, Bonn, Cologne, Lübeck, Mönchengladbach and the residents of 95 other cities and districts. With their income weighted in terms of cost of living, the people of Krefeld rank 298th out of 400 cities and districts. This is almost in the last quarter or more precisely in the last pitches of the third quarter. Translated: The average Krefeld resident cannot afford much with their income. Adjusted for prices, each resident has 23,457 euros available. In fact it is only 23,038 euros. It is not surprising that the two amounts are not far apart. After all, the cost of living in the city of Krefeld is almost exemplary for the whole of Germany - instead of the typical 100 percent, the cost of living in Krefeld is close to 98.2 percent.
The higher purchasing power in Krefeld compared to other German cities can have an impact on the real estate market in the region. With greater purchasing power, more people could afford to buy a property, which could influence demand and therefore prices. In addition, higher purchasing power could also lead to increased consumer demand, which in turn could have a positive impact on the region's economy.
According to a report by rp-online.de,