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PRESS RELEASE – For Immediate Release
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Beginning with quarter four of 2007, C2ER annually publishes an unweighted average of prices accumulated from the previous three quarters. This analysis uses average prices submitted for the first three quarters of 2024. For further details on the annual average methodology, please visit our website at coli.org.
Among the 254 urban areas that participated in 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.
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The Ten Most and Least Expensive Urban Areas
in the Cost of Living Index (COLI)
Year-End Review of Three Quarters in 2024
National Average for 254 Urban Areas = 100
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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.
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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.
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The Five Most and Least Expensive Places for Grocery Items by Index Number in the Cost of Living Index (COLI)
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Year-End Review of Three Quarters in 2024
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Average for 254 Urban Areas = 100
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The Most Expensive and Least Expensive Cities for Cereal
It’s often said that breakfast is the most important meal of the day, and for many hard-working individuals on the go, the most convenient way to scarf down a quick breakfast is through a bowl of cereal. According to the most recent COLI Annual Average publication, the price of a box of cereal varies from $4.34 in Douglasville-Douglas County GA to nearly double in Juneau AK, at $8.16. With each box containing around 11 to 12 servings, that bowl of cereal can quickly pile up in costs. In addition to cereal costs, consumers should also look at the cost of milk in their region to get a more accurate picture of their overall breakfast costs. They should also research the price of coffee and orange juice, which many Americans tend to enjoy along with their cereal.
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The Five Most and Least Expensive Places for Cereal
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Year-End Review of Three Quarters in 2024
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Average for 254 Urban Areas = $5.15
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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.
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