Yes,

though you also have to look into details.

Like as far as I can tell the "actual" cost of living in the US diverges quite a bit from the "surface level" cost you might find when googling ad-hoc.

As far as I can tell this is because (but not limited to) factors like the health system being prone to having high hidden costs, or also small things like you being required to have a care in many metro areas or thinks you are "socially expected" to strive for like owning a house or a more expensive car.

I'm pretty sure similar things apply for other countries, too.

Also don't forget that many people in some countries start in the negative with student loans, which is relatively rare, and when present at much lower rates, in the EU.