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Date ArticleType
5/15/2013 Q5-general
Cost of Living Index updated; Springfield ranked fifth in state

 

The results of the 2013 Q1 Cost of Living Index were released last week.

 

The Cost of Living Index (COLI) tracks the relative price levels of consumer expenditures in 300 urban areas across the country and measures the average cost of living in the form of a composite index. The latest index rates Springfield at 94.3 against the national average of 100. The borough of Manhattan in NYC ranks the most expensive place in the U.S. with a composite score of 227.1 compared to the most affordable community of Harlingen, TX with a score of 80.6.

 

Overall, Springfield ranked fifth for affordability among the twelve Illinois communities participating in the survey. Prices in Springfield measured below the Illinois average in the categories of housing, utilities, transportation and miscellaneous goods and services but above the average in two categories (grocery items and health care). Springfield ranked the most affordable for utility costs across the state.

 

If you need additional information on Springfield’s rank in the Cost of Living Index, please contact John Parrish, Research Manager at the Greater Springfield Chamber of Commerce at (217) 525-1173 or jparrish@gscc.org. To receive updates on business and economic news in the Springfield area, be sure to follow the Chamber on Twitter @GrowSangamon.



COLI update 2013