PRESS RELEASE – For Immediate Release

COST OF LIVING INDEX

Among the 261 urban areas that participated in the first quarter of the 2024 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 Decatur, IL.  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)

Review of Quarter One in 2024

National Average for 261 Urban Areas = 100

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. Covering 61 different items, prices are collected quarterly by chambers of commerce, economic development organizations, and university applied economic centers in each participating urban area. Small differences should not be interpreted as showing a measurable difference.

The composite index is based on six component categories – housing, utilities, grocery items, transportation, health care, and miscellaneous goods and services.

What Do Groceries Cost?

The C2ER grocery index is drawing data from over 320 million grocery prices derived from 1.5 trillion historical data points collected across the country to generate the most accurate data possible. Datasembly’s weekly collection covers 200 national and regional retailers and quick service restaurants representing over 150,000 brick and mortar locations across 30,000 zip codes. With food prices still being a big part of the national conversation, C2ER decided to feature those communities once again with the most and least expensive food costs as measured by the grocery item index number. The twenty-six items priced come from a variety of surrogate categories to represent the grocery item component of the index. With food prices still being a big part of the national conversation, C2ER decided to feature those communities once again with the most and least expensive food costs as measured by the grocery item index number. The twenty-six items priced come from a variety of surrogate categories to represent the grocery item component of the index.

The Five Most and Least Expensive Places for Grocery Items by Index Number

in the Cost of Living Index (COLI)

Review of Quarter One in 2024

Average for 261 Urban Areas = 100

The Most Expensive and Least Expensive Cities for Utility Bills

Over the past few years, COLI has introduced several updates, including innovative methods for collecting utility rates. By leveraging RateAcuity’s utility rate database, the COLI team now estimates monthly bills for various urban areas more accurately and efficiently.

As we approach a high-energy season, you might wonder where you’ll be paying the most on your utility bill. The highest utility bills are hitting cities in the Western U.S., with places like Honolulu, Oakland, and San Francisco exceeding $400. Alaska cities, like Fairbanks, also rank high due to their hefty winter energy usage. Meanwhile, Louisiana residents enjoy bills just over $100. Thinking of escaping those hefty bills? Maybe it’s time to pack your bags and move to Louisiana! If you’re a resident looking to relocate and escape high utility bills, the data in the Q1 2024 publication can be a valuable resource.

The Five Most and Least Expensive Places for Utility Bills

Review of Quarter One in 2024

Average for 261 Urban Areas = $204.90

The quarterly Cost of Living Index is available by subscription for $190 per year for the print version and $180 per year for the PDF. The electronic version is available for $300 per year. Be sure and ask about our Expanded Excel version which covers more household and income types. Send check, payable to C2ER, P.O. Box 12546, Arlington VA 22209, or subscribe on the Internet at www.coli.org.

If you need additional information on the Cost of Living Index or other COLI-related products such as the COLI Web Calculator and the COLI Historical Index, please contact Tyler Baines at tbaines@crec.net or by phone at 703-522-4980.