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COST OF LIVING INDEX QUARTERLY UPDATE
This report represents the tenth edition of a new format for the Cost of Living Index. Beginning with the fourth quarter of 2007, C2ER has annually published an unweighted average of prices accumulated from the previous three quarters. The data presented represent average prices submitted for the first three quarters of 2016.
Among the 264 urban areas that participated in the 2016 Cost of Living Index, the after-tax cost for a professional/managerial standard of living ranged from more than twice the national average in New York (Manhattan), NY, to more than 20 percent below the national average in McAllen, TX. The Cost of Living Index is published quarterly by C2ER – The Council for Community and Economic Research.
|The Ten Most and Least Expensive Urban Areas
in the Cost of Living Index (COLI)
Year-End Review of Three Quarters in 2016National Average for 261 Urban Areas = 100
|Most Expensive||Least Expensive|
|Ranking||Urban Areas||COL Index||Ranking||Urban Areas||COL Index|
|1||New York (Manhattan) NY||228.2||1||McAllen TX||76.4|
|2||Honolulu HI||190.5||2||Harlingen TX||79.4|
|3||San Francisco CA||177.4||3||Richmond IN||79.9|
|4||New York (Brooklyn) NY||173.6||4||Kalamazoo MI||80.1|
|5||Orange County CA||151.6||5||Ashland OH||81.5|
|6||Washington DC||149.2||6||Cleveland TN||82.7|
|7||Oakland CA||148.7||7||Tupelo MS||82.8|
|8||Boston MA||148.1||8||Martinsville-Henry County VA||82.8|
|9||Stamford CT||145.9||9||Memphis TN||83.0|
|10||Seattle WA||145.1||10||Hattiesburg MS||83.8|
The Cost of Living Index measures regional differences in the cost of consumer goods and services, excluding taxes and non-consumer expenditures, for professional and managerial households in the top income quintile. It is based on more than 90,000 prices covering almost 60 different items for which prices are collected three times a year by chambers of commerce, economic development organizations or university applied economic centers in each participating urban area. Small differences in the index numbers should not be interpreted as significant.
The composite index is based on six components: housing, utilities, grocery items, transportation, health care, and miscellaneous goods and services.