The priciest cities to live in this year (does yours make the list?)

Have you ever dreamed of packing your bags and starting fresh in the nonstop energy of New York City? Or perhaps spending your golden years in the tropical paradise of Honolulu? Unfortunately, these dreamy escapes are more out of reach than ever—unless you’ve hit the jackpot. Rental prices in these sought-after cities have soared in recent years, fueling cost-of-living crises worldwide.

To gauge just how expensive renting has become, Numbeo developed the Cost of Rent Index. According to their website, “This index estimates the prices of renting apartments in a city compared to New York City. If the Rent Index is 80, it suggests that the average rental prices in that city are approximately 20% lower than those in New York City.” For context, real estate agency Point2 estimates that the average NYC apartment rents for a staggering $4,641 per month.

In this gallery, you’ll find the 5 cities with the highest Rent Index scores. Click through for a look at the world’s most jaw-droppingly expensive rental markets—and what makes them worth the price!

1.  Luxembourg, Luxembourg

2.Tampa, Florida

3. Vancouver, Canada

4.Orlando, Florida

5.Portland, Oregon