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2016 Cost of Living Index Year-End Review

FINDLAY, Ohio, February 16, 2017 – 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 data presented represent average prices submitted for the first three quarters of 2016. 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 2016

National Average for 264 Urban Areas = 100

 

Most Expensive Least Expensive
COL    COL
Ranking Urban Areas Index Ranking Urban Areas 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 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.

 

The composite index is based on six component categories – housing, utilities, grocery items, transportation, health care, and miscellaneous goods and services. The average for all participating places in each quarter equals 100 and each participant’s index is read as a percentage of the average for all places. However, small differences should not be construed as significant—or even as indicating correctly which area is the more expensive.

 

13.61%

Grocery Items

 

27.59%

Housing

10.06%

Utilities

9.59%

Trans-portation

4.00%

Health Care

35.15%

Misc. Goods

And Services

Findlay OH 97.1 83.5 84.9 96.0 96.6 108.4

 

The City of Findlay’s 2016 Cost of Living Index was 96.0, 4.0 percent below that of the national average. The City of Findlay’s composite index reflects the following six different categories of consumer expenditures.

 

Additionally, Findlay ranked third among participating Ohio urban areas.

 

The Most to Least Expensive Urban Areas in Ohio

in the Cost of Living Index (COLI)

Year-End Review of Three Quarters in 2016

National Average for 264 Urban Areas = 100

 

Ranking Urban Areas COL Index
1 Akron OH 100.6
2 Cleveland-Elyria OH 98.7
3 Findlay OH 96.0
4 Dayton OH 95.5
5 Cincinnati OH-KY-IN 91.2
6 Lima OH 90.6
7 Columbus OH 90.0
8 Ashland OH 81.5

 

 

Compared to other Ohio cities, Findlay’s data showed that it offered more affordable home energy costs and lower auto maintenance and gasoline prices than all other participating Ohio cities, Findlay also enjoyed lower grocery costs than cities such as Akron, Ashland, Cleveland and Dayton. Findlay’s housing and healthcare costs were slightly higher than locations such as Ashland, Columbus and Dayton, but lower than Cleveland.

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

Orange juice and Advil, essential for those suffering from seasonal bouts of flu and colds, Ohio urban areas participating in the survey are featured with the most to least expensive places to buy those items.

 

The Most to Least Expensive Places to Buy Orange Juice

in the Cost of Living Index (COLI)

Averaged over Three Quarters in 2016

National Average for 264 Urban Areas in 2016 = $3.50

 

Ranking Urban Areas Price
1 Akron OH $3.96
2 Cleveland OH $3.85
3 Dayton OH $3.52
4 Ashland OH $3.45
5 Lima OH $3.42
6 Findlay OH $3.19
7 Cincinnati OH $3.03
8 Columbus OH $3.01

 

 

The Most to Least Expensive Places to Buy Ibuprofen

in the Cost of Living Index (COLI)

Averaged over Three Quarters in 2016

National Average for 264 Urban Areas in 2016 = $9.29

 

Ranking Urban Areas Price
1 Akron OH $11.27
2 Cleveland OH $9.98
3 Lima OH $9.49
4 Ashland OH $9.35
5 Dayton OH $9.28
6 Findlay OH $8.95
7 Cincinnati OH $8.33
8 Columbus OH $8.22

 

For more information on the C2ER Cost of Living Index, contact the Chamber at 419-422-3313 or e-mail info@FindlayHancockChamber.com.

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