Community Texarkana Chamber

COST OF LIVING INDEX

COST OF LIVING INDEX

Beginning with the fourth quarter of 2017, 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 2017.  For further details on the annual average methodology, please visit our website at www.coli.org.

Among the 269 urban areas that participated in the 2017 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 Texarkana USA Chamber of Commerce is a participating and contributing part of the quarterly research.  The Chamber gathers local data on the Texarkana area to provide information in determining the local cost of living and how it relates to the other urban areas of the country.

The Ten Most and Least Expensive Urban Areas

in the Cost of Living Index (COLI)

Year-End Review of Three Quarters in 2017

National Average for 269 Urban Areas = 100

Most Expensive   Least Expensive  
    COL     COL
Ranking Urban Areas Index Ranking Urban Areas Index
1 New York (Manhattan) NY 238.6 1 McAllen TX 76.1
2 San Francisco CA 192.9 2 Conway AR 78.2
3 Honolulu HI 188.3 3 Harlingen TX 78.6
4 New York (Brooklyn) NY 182.0 4 Richmond IN 79.0
5 Washington DC 155.7 5 Kalamazoo MI 79.5
6 Orange County CA 152.6 6 Tupelo MS 80.1
7 Oakland CA 149.5 7 Wichita Falls TX 81.7
8 Seattle WA 149.0 8 Knoxville TN 82.2
9 Boston MA 148.2 9 Hattiesburg MS 82.7
10 Los Angeles-Long Beach CA 148.0 10 Ashland OH 82.9

 

Texarkana had a Cost of Living Score composite index of 85.5           

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 50,000 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.

Since it is cold and flu season, which communities have the highest and lowest prices of orange juice and ibuprofen?

C2ER collects more than 50,000 prices from communities across the US for the COLI. Two of those items, orange juice and ibuprofen, are essential for those suffering from seasonal bouts of flu and colds.  Below is a list of the most, and least, expensive places to buy those items.

 

The Five Most and Least Expensive Places to Buy Orange Juice

 Averaged over Three Quarters in 2017

Average for 269 Urban Areas in 2017 = $3.53

 

Most Expensive   Least Expensive  
           
Ranking Urban Areas  Price Ranking Urban Areas      Price
1 Honolulu HI $5.56 1 Chattanooga TN $2.86
2 Juneau AK $5.04 2 Cedar City UT $2.87
3 Kodiak AK $4.82 3 Kennewick-Richland-Pasco WA $2.87
4 New York (Manhattan) NY $4.74 4 Conway AR $2.88
5 Minot ND $4.69 5 Burlington IA $2.89

 

Texarkana had a price score for orange juice of 3.53.

 

 

The Five Most and Least Expensive Places to Buy Ibuprofen

 Averaged over Three Quarters in 2017

Average for 269 Urban Areas in 2017 = $9.27

 

Most Expensive   Least Expensive  
           
Ranking Urban Areas Price Ranking Urban Areas       Price
1 Honolulu HI $14.28 1 Birmingham AL $5.96
2 Dothan AL $12.82 2 Cedar City UT $6.26
3 Los Angeles-Long Beach CA $12.77 3 Jackson-Madison County TN $6.74
4 Orange County CA $12.77 4 Charlotte NC $7.03
5 San Diego CA $12.77 5 Rochester NY $7.08


Texarkana had a price score for ibuprofen of $8.77.

 

For more information on the Texarkana USA Chamber of Commerce and its activities in Economic and Community Development or membership, contact: Texarkana USA Chamber of Commerce, 819 North State Line Avenue, Texarkana, Texas 75501; or 903-792-7191 or www.texarkana.org.

 

PRESS RELEASE April 11 2017

 

 

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