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COST OF LIVING INDEX QUARTERLY UPDATE
Among the 261 urban areas that participated in the third quarter 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 almost 25 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)
Third Quarter 2016
National 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||232.0||1||McAllen TX||76.4|
|2||Honolulu HI||188.5||2||Harlingen TX||78.5|
|3||San Francisco CA||181.9||3||Richmond IN||80.4|
|4||New York (Brooklyn) NY||177.0||4||Kalamazoo MI||80.6|
|5||Orange County CA||153.0||5||Tupelo MS||81.3|
|6||Oakland CA||152.4||6||Conway AR||81.6|
|7||Washington DC||151.6||7||Wichita Falls TX||81.6|
|8||Hilo HI||147.2||8||Cleveland TN||81.7|
|9||Boston MA||146.4||9||Martinsville-Henry County VA||81.8|
|10||San Diego CA||145.7||10||Knoxville TN||82.7|
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.