Cost of Living Index
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Among the 260 urban areas that participated in the second 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) Second Quarter 2016 National Average for 260 Urban Areas = 100 |
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| Most Expensive | Least Expensive | ||||
| Ranking | Urban Areas | COL Index | Ranking | Urban Areas | COL Index |
| 1 | New York (Manhattan) NY | 226.0 | 1 | McAllen TX | 75.9 |
| 2 | Sunnyvale CA | 224.2 | 2 | Richmond IN | 78.7 |
| 3 | Honolulu HI | 191.1 | 3 | Kalamazoo MI | 79.7 |
| 4 | San Francisco | 174.7 | 4 | Harlingen TX | 80.6 |
| 5 | New York (Brooklyn) NY | 172.8 | 5 | Hattiesburg MS | 81.1 |
| 6 | Orange County CA | 149.2 | 6 | Ashland OH | 82.0 |
| 7 | Washington DC | 148.4 | 7 | Martinsville-Henry County VA | 82.0 |
| 8 | Oakland CA | 147.2 | 8 | Memphis TN | 82.2 |
| 9 | Boston MA | 146.0 | 9 | Sherman-Denison Tx | 82.6 |
| 10 | Stamford CT | 145.7 | 10 | Tupelo MS | 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.
