How do you compare the expense of living in one city compared to another? Here’s one way. The ACCRA Cost of Living index is calculated three times per year and provides an index number that compares each city to the national average. The national average in each survey is calculated and that value is given a Cost of Living Index number of 100. Cities with an index value below 100 have a cost of living below the national average, and those with an index value above 100 have a cost of living above the national average. You can then quickly compare city to city to determine which has a better index value. Of course, cost of living is not the only thing one would consider when looking at relocation, but it is an important factor.
In the most recent index, Austin fared quite well with a 95.5 index value. Manhattan, at 216.7, had the highest index number in the latest survey. The lowest index score of 82.8 was found in Harlingen, TX.
To see more results and to use the comparison calculator, click here for a great tool found on the Austin Chamber of Commerce website. After selecting two cities to compare, you can see the relative costs of everything from a dozen eggs to a energy bills. The index compares the cost of over 50 different goods and services. Compare the price of a gallon of gasoline, a visit to the doctor, or a movie.
As you’ll see, Austin’s index is yet another reason we are fortunate to be living here!