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Findlay’s Cost of Living Update – End of Year 2018

(FINDLAY, Ohio, February 6, 2018) – Among the 270 urban areas that participated in the 2018 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 Harlingen, 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 2018

National Average for 270 Urban Areas = 100

Most Expensive Least Expensive
COL COL
Ranking Urban Areas Index Ranking Urban Areas Index
1 New York (Manhattan) NY 248.5 1 Harlingen TX 75.8
2 San Francisco CA 196.3 2 McAllen TX 77.4
3 Honolulu HI 189.7 3 Richmond IN 79.6
4 New York (Brooklyn) NY 181.7 4 Kalamazoo MI 79.6
5 Washington DC 162.6 5 Memphis TN 80.6
6 Seattle WA 154.8 6 Knoxville TN 81.7
7 Oakland CA 154.5 7 Muskogee OK 81.8
8 Arlington VA 153.1 8 Conway AR 81.9
9 New York (Queens) NY 152.6 9 Joplin MO 82.3
10 Boston MA 150.0 10 Wichita Falls TX 82.3

 

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.

13.40%

Grocery Items

 

29.34%

Housing

8.94%

Utilities

9.22%

Trans-portation

4.26%

Health Care

34.84%

Misc. Goods

And Services

Findlay OH 94.6 91.3 86.8 97.6 101.2 103.7

 

The City of Findlay’s 2018 Cost of Living Index averaged over three quarters was 96.7, 3.3 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 most expensive among the eight participating Ohio urban areas.

 

The Most to Least Expensive Urban Areas in Ohio

in the Cost of Living Index (COLI)

Averaged over Three Quarters in 2018

National Average for 270 Urban Areas in 2018 = 100

Ranking Urban Areas COL Index
1 Cleveland, OH 98.0
2 Akron, OH 97.0
3 Findlay, OH 96.7
4 Cincinnati, OH 95.2
5 Dayton, OH 91.5
6 Columbus, OH 90.8
7 Lima. OH 87.4
8 Ashland, OH 85.4

 

Findlay’s data showed that it has ranked most affordable for utility costs in 2018. Findlay was the third most affordable for grocery items, only above Lima and Cincinnati, and also ranked third most affordable for transportation costs, above Ashland and Columbus.

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 Most to Least Expensive Places to Buy Orange Juice

Averaged Over Three Quarters in 2018

Average for 270 Urban Areas in 2018 = $3.52

Ranking Urban Areas Avg. Price ($)
1 Cleveland, OH 4.05
2 Cincinnati, OH 3.79
3 Akron, OH 3.73
4 Ashland, OH 3.63
5 Dayton, OH 3.61
6 Findlay, OH 3.28
7 Columbus, OH 3.11
8 Lima, OH 3.11

 

The Most to Least Expensive Places to Buy Ibuprofen

Averaged Over Three Quarters in 2018

Average for 270 Urban Areas in 2018 = $9.33

Ranking Urban Areas Avg. Price ($)
1 Lima, OH 10.57
2 Cleveland, OH 10.18
3 Findlay, OH 9.47
4 Akron, OH 9.26
5 Ashland, OH 8.85
6 Columbus, OH 8.70
7 Cincinnati, OH 8.47
8 Dayton, OH 8.08

 

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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