Cost of living in Prague

I am trying to get relocated to Prague for work. My company (USA based) said the cost of living in Prague is severely less than the USA and I would need to take a pay cut. Based on my research housing for a decent 2 bedroom apartment in Prague is very comparable to my home town in the USA. I can see that food and utilities are less, and if you choose not to own a vehicle, that could make Prague more affordable.

Am I forgetting to account for anything? I’m curious what others think about the cost of living in Prague.