U.S. Cost of Living Index by City: Downloadable Data (2022)

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The cost of living in the United States varies widely based upon the city where an individual lives. AdvisorSmith analyzed the cost of living in 509 metropolitan areas (which we call cities) in the United States and created the AdvisorSmith Cost of Living Index (COLI), which details the cost of living in different parts of the country and provides an easy way to compare cities against one another.

Cost of Living by City

The AdvisorSmith Cost of Living Index is modeled upon national average household budgets, with weights assigned to six major categories of household expenses. The expense categories along with their weights are listed below:

  • Food: 16.1%
  • Housing: 23.2%
  • Utilities: 10.1%
  • Transportation: 18.6%
  • Healthcare: 9.6%
  • Consumer Discretionary Spending: 22.3%

These categories are aggregated to produce a cost of living index value for each of the cities.

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Data was last updated: February 5, 2021

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Cost of Living Index Downloadable Data

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AdvisorSmith Cost of Living Index

In the table below, we list the cost of living in over 500 U.S. metro areas. The cities are indexed to 100, with 100 being the average cost of living for the United States. Index values above 100 indicate that the city has a cost of living above the average, while values below 100 indicate a cost of living below the average.

For example, a city with a cost of living of 130 has a cost of living 30% higher than the national average.

CityStateCost of Living Index
AberdeenWA97.6
AbileneTX89.1
AdrianMI90.5
AkronOH89.4
AlamogordoNM85.8
AlbanyGA87.3
AlbanyOR105.4
AlbanyNY100.1
AlbertvilleAL90.9
AlbuquerqueNM92.9
AlexandriaLA86.2
AllentownPA98.9
AltoonaPA90.8
AmarilloTX88.2
AmesIA91.5
AnchorageAK110.7
Ann ArborMI99.3
AnnistonAL85.7
AppletonWI90.7
AshevilleNC103.3
AshtabulaOH87.4
AthensOH88.5
AthensTX92.9
AthensGA95
AtlantaGA100.3
Atlantic CityNJ102
AuburnNY93.7
AuburnAL91.9
AugustaGA91.6
AugustaME100
AustinTX106.6
BakersfieldCA102.9
BaltimoreMD107
BangorME98
Barnstable TownMA122.4
Baton RougeLA91.1
Battle CreekMI85.9
Bay CityMI85.4
BeaumontTX88.6
Beaver DamWI92.9
BeckleyWV80
BellinghamWA111.6
BendOR115.9
BillingsMT95.7
BinghamtonNY93.3
BirminghamAL90.7
BismarckND93.1
BlacksburgVA94.5
BloomingtonIN92.4
BloomingtonIL89
BloomsburgPA93.2
BluefieldWV81.2
Boise CityID100.3
BostonMA132.6
BoulderCO118.7
Bowling GreenKY87
BozemanMT125.3
BrainerdMN97.9
BransonMO89.5
BremertonWA115
BrownsvilleTX87.8
BrunswickGA94.4
BuffaloNY97.3
BurlingtonNC91.8
BurlingtonVT112.8
CaliforniaMD104.8
CantonOH88.2
Cape GirardeauMO88.1
CarbondaleIL83.5
Carson CityNV103
CasperWY94.2
Cedar RapidsIA88.1
CentraliaWA103.3
ChambersburgPA95.7
ChampaignIL89
CharlestonWV83.9
CharlestonSC101.7
CharlotteNC97.9
CharlottesvilleVA102.1
ChattanoogaTN91.2
CheyenneWY96.9
ChicagoIL100.1
ChicoCA110.5
ChillicotheOH89.8
CincinnatiOH92.4
ClaremontNH102.3
ClarksburgWV83.4
ClarksvilleTN88.7
ClearlakeCA108.8
ClevelandTN89.5
ClevelandOH90
Coeur d'AleneID103.3
College StationTX92.3
Colorado SpringsCO102.2
ColumbiaMO89.8
ColumbiaSC91.9
ColumbusGA88.5
ColumbusIN89.1
ColumbusOH93.9
ConcordNH108.3
CookevilleTN90.9
Coos BayOR102
CorningNY90.9
Corpus ChristiTX93.3
CorvallisOR110.6
CrestviewFL104.7
CullmanAL90.5
CumberlandMD90.9
DallasTX98.5
DaltonGA89.1
DanvilleIL83.9
DanvilleVA87.1
DaphneAL96.6
DavenportIA87.2
DaytonOH88.4
Daytona BeachFL99.6
DecaturAL88.6
DecaturIL84.9
DenverCO112.1
Des MoinesIA91.7
DetroitMI93.2
DothanAL86.3
DoverDE101.3
DuBoisPA88.2
DubuqueIA89.6
DuluthMN93.2
DunnNC91.4
DurhamNC99.8
East StroudsburgPA96.1
Eau ClaireWI91.8
El CentroCA102.3
El PasoTX88.6
Elizabeth CityNC91.1
ElizabethtownKY88.1
ElkhartIN88.5
ElmiraNY92.5
EnidOK82.9
EriePA91.8
EugeneOR108.4
EurekaCA116.5
EvansvilleIN87.2
FairbanksAK107.9
FargoND91.4
FaribaultMN102.3
FarmingtonMO85.4
FarmingtonNM88.4
FayettevilleNC89.5
FayettevilleAR90.4
FindlayOH91.1
FlagstaffAZ108.5
FlintMI85.7
FlorenceSC87.7
FlorenceAL86.8
Fond du LacWI88
Forest CityNC89.4
Fort CollinsCO109.2
Fort MyersFL101.5
Fort SmithAR84.2
Fort WayneIN86.8
FrankfortKY88.1
FresnoCA105.9
GadsdenAL86
GainesvilleFL97.3
GainesvilleGA97
GallupNM90
GettysburgPA98.2
Glens FallsNY98.6
Glenwood SpringsCO127.8
GoldsboroNC88.5
Grand ForksND90.7
Grand IslandNE88.8
Grand JunctionCO98.1
Grand RapidsMI93.7
Grants PassOR106.6
Great FallsMT91.1
GreeleyCO106.1
Green BayWI91.4
GreenevilleTN86.5
Greenfield TownMA106.2
GreensboroNC91
GreenvilleNC89.8
GreenvilleSC95
GreenwoodSC88.7
GulfportMS86.8
HagerstownMD99.7
HammondLA89
HanfordCA105.4
HarrisburgPA95.8
HarrisonburgVA95.5
HartfordCT104.8
HattiesburgMS86.1
HelenaMT104.2
HermistonOR97.9
HickoryNC89.8
HiloHI136.9
Hilton Head IslandSC109.4
HinesvilleGA90.8
HobbsNM87.7
HollandMI96.2
Homosassa SpringsFL95.5
HonoluluHI158
Hot SpringsAR87.3
HoumaLA89.9
HoustonTX95.8
HuntingtonWV84.3
HuntsvilleAL91.3
HuntsvilleTX91.2
HutchinsonKS84
Idaho FallsID91.7
IndianaPA90.8
IndianapolisIN90.2
Iowa CityIA93.5
IthacaNY101.7
JacksonMI87.4
JacksonMS87.8
JacksonTN85.2
JacksonvilleFL99
JacksonvilleNC91.7
JamestownNY91.3
JanesvilleWI89.8
JeffersonGA97.4
Jefferson CityMO86.3
Johnson CityTN88.1
JohnstownPA87.6
JonesboroAR85.2
JoplinMO85.2
KahuluiHI158.5
KalamazooMI89.3
KalispellMT112.7
KankakeeIL91
Kansas CityMO91.6
KapaaHI164.9
KeeneNH102.1
KennewickWA99.7
Key WestFL140
KilleenTX88.6
KingsportTN86
KingstonNY106.1
Klamath FallsOR97.1
KnoxvilleTN91.6
KokomoIN84.9
La CrosseWI91.8
LafayetteLA89.6
LafayetteIN88.7
LaGrangeGA86
Lake CharlesLA89.4
Lake CityFL93.6
Lake Havasu CityAZ98.4
LakelandFL96.4
LancasterPA99.5
LansingMI88.7
LaredoTX90.1
Las CrucesNM88.8
Las VegasNV100.7
LaurelMS85.9
LawrenceKS91.6
LawtonOK82.8
LebanonPA95.4
LewistonID92.5
LewistonME99.7
LexingtonKY91.1
LimaOH87.2
LincolnNE94.7
Little RockAR88
LoganUT95.2
LondonKY84.6
LongviewTX88.5
LongviewWA101.6
Los AngelesCA140.6
LouisvilleKY91.6
LubbockTX88.8
LufkinTX88.2
LumbertonNC83.4
LynchburgVA93.6
MaconGA87.2
MaderaCA108.9
MadisonWI99.5
ManchesterNH109.6
ManhattanKS89.6
ManitowocWI87.8
MankatoMN95.3
MansfieldOH86.2
MarinetteWI86.6
MarionIN81.8
MarionOH85.7
MarquetteMI91.3
MarshallTX89.9
MartinsvilleVA85
McAllenTX86
MeadvillePA88.5
MedfordOR107.5
MelbourneFL99.3
MemphisTN88.2
MercedCA108.2
MeridianMS82
MiamiFL110.1
Michigan CityIN87.8
MidlandMI87
MidlandTX97.8
MilwaukeeWI93.8
MinneapolisMN105.4
MinotND90.7
MissoulaMT103.4
MobileAL88.3
ModestoCA112.3
MonroeLA86.5
MonroeMI90.5
MontgomeryAL88.5
Morehead CityNC102.2
MorgantownWV88.5
MorristownTN87.3
Moses LakeWA95.7
Mount AiryNC89
Mount PleasantMI86.8
Mount VernonWA110.1
MuncieIN83.7
MuskegonMI87.7
MuskogeeOK81.3
Myrtle BeachSC94.7
NacogdochesTX89.6
NapaCA149.6
NaplesFL109.4
NashvilleTN100.1
New BernNC90.2
New CastlePA88.1
New HavenCT107.7
New LondonCT105.9
New OrleansLA92.4
New PhiladelphiaOH88.9
New YorkNY128
NilesMI89.7
North WilkesboroNC90.5
Oak HarborWA125.2
OcalaFL94.5
Ocean CityNJ109.5
OdessaTX92.7
OgdenUT99.8
OgdensburgNY88.3
Oklahoma CityOK87.3
OleanNY89
OlympiaWA110.9
OmahaNE92.9
OpelousasLA86.1
OrangeburgSC85.3
OrlandoFL101.4
OshkoshWI89
OttawaIL86.6
OwensboroKY86.6
OwossoMI84.8
PaducahKY85.7
PalatkaFL93.2
Panama CityFL101.9
ParkersburgWV84.7
PensacolaFL97.9
PeoriaIL86.7
PhiladelphiaPA103.4
PhoenixAZ104.3
Pine BluffAR82.3
PittsburghPA93.1
PittsfieldMA106.4
PlattsburghNY93.7
PocatelloID90.8
Port AngelesWA109.1
Port St. LucieFL101.1
PortlandME113
PortlandOR116.5
PortsmouthOH84.7
PottsvillePA87
PrescottAZ104.6
ProvidenceRI111.5
ProvoUT100.9
PuebloCO92.2
Punta GordaFL100.3
QuincyIL87.3
RacineWI90.9
RaleighNC99.7
Rapid CitySD94.2
ReadingPA96
ReddingCA108.7
RenoNV107.4
RichmondIN84.2
RichmondVA99.2
RichmondKY90.8
RiversideCA116.1
RoanokeVA94.1
Roanoke RapidsNC83.1
RochesterMN97.3
RochesterNY96.6
RockfordIL87.2
Rocky MountNC88.3
RomeGA89.6
RoseburgOR100.8
RoswellNM86.3
RussellvilleAR85.5
SacramentoCA120.3
SaginawMI84
SalemOR105.8
SalemOH86.6
SalinasCA138.3
SalisburyMD103.2
Salt Lake CityUT105.9
San AngeloTX90.7
San AntonioTX92.7
San DiegoCA136.2
San FranciscoCA178.6
San JoseCA173.5
San Luis ObispoCA136.1
SanduskyOH90.8
Santa CruzCA163.9
Santa FeNM105.1
Santa MariaCA143
Santa RosaCA141.7
SarasotaFL104.4
SavannahGA97.3
ScrantonPA91.3
SearcyAR85.4
SeattleWA124.6
SebringFL93.1
SenecaSC94
SeviervilleTN103.5
ShawneeOK82.4
SheboyganWI89.7
ShelbyNC88.1
SheltonWA109.6
ShermanTX91.3
Show LowAZ101.9
ShreveportLA85.8
Sierra VistaAZ93.2
Sioux CityIA87.1
Sioux FallsSD92.8
SomersetPA89.3
South BendIN87.2
SpartanburgSC91
SpokaneWA100.4
SpringfieldIL87.5
SpringfieldMA106.5
SpringfieldMO86.7
SpringfieldOH87.5
St. CloudMN95.4
St. GeorgeUT98
St. JosephMO85.5
St. LouisMO89.6
StamfordCT119.2
State CollegePA99.8
StatesboroGA91.1
StauntonVA94.5
Stevens PointWI91.5
StillwaterOK86.3
StocktonCA113.6
SumterSC88.1
SunburyPA88.6
SyracuseNY95.1
TalladegaAL87.4
TallahasseeFL96.4
TampaFL101.4
Terre HauteIN84.7
TexarkanaTX86.3
The VillagesFL100.7
ToledoOH87.5
TopekaKS85.6
TorringtonCT105.2
Traverse CityMI99.6
TrentonNJ104.3
TruckeeCA132.8
TucsonAZ97.7
TullahomaTN88.7
TulsaOK86.7
TupeloMS87.2
TuscaloosaAL91
Twin FallsID91.2
TylerTX92.8
UkiahCA128
UticaNY94.1
ValdostaGA89.2
VallejoCA125.2
VenturaCA132.2
Vero BeachFL98.9
VictoriaTX89.5
VinelandNJ97.8
Virginia BeachVA99
VisaliaCA103.6
WacoTX89.5
Walla WallaWA100.9
Warner RobinsGA90.5
WarsawIN92.3
WashingtonDC120.1
WaterlooIA87.6
WatertownWI97.1
WatertownNY96.4
WausauWI88.9
WeirtonWV82.6
WenatcheeWA106.6
WheelingWV84.1
WhitewaterWI97.7
WichitaKS86.8
Wichita FallsTX85.7
WilliamsportPA93.4
WilmingtonNC99
WilsonNC86.3
WinchesterVA97.2
Winston-SalemNC91.2
Wisconsin RapidsWI86.9
WoosterOH95.5
WorcesterMA113.2
YakimaWA97.5
YorkPA95.8
YoungstownOH86.4
Yuba CityCA108.7
YumaAZ94.5
ZanesvilleOH87.6

Why is the cost of living index important?

Whether you’re planning a move or looking to start a new career or business in a different city, it’s important to consider the cost of living in your new city. From a consumer perspective, the cost of living index will give you better insight into housing affordability, everyday expenses, health care costs, and overall standard of living. From a business owner’s perspective, cost of living information can help you better understand how to price your goods and services, as well as what you should be paying for in employee wages, rent, utilities, and insurance coverages like commercial property or workers’ compensation.

Ultimately, the cost of living index can help you compare just how far a dollar can go in a new city. In today’s work environment, where remote work is becoming more and more common, understanding a city’s cost of living can be a helpful tool in evaluating a potential move.

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Methodology

The AdvisorSmith Cost of Living Index compares the cost of living in over 500 U.S. metropolitan areas, which we call “cities.” The index is constructed such that the average U.S. cost of living is normalized to 100. The cost of living was determined based on six major categories of expenses: food, housing, utilities, transportation, healthcare, and consumer discretionary spending. The percentage weight allocated to each category of expense was determined based upon the average U.S. household budget, based on the Consumer Expenditure Surveys conducted by the U.S. Bureau of Labor Statistics.

For each category of expense, we created an index that reflects the U.S. average price in that expense category. We used a variety of data sources to index each city’s price level for that category of expense. The city-level categories of expense were then multiplied by the weights allocated to each category and then summed to create a composite cost of living expense index for each city.

For each category of expense, we summarize below our methodology for determining the price levels for each city. In some cases where city-level data was unavailable, we used state-level data to infer the price level for each city.

Food

Our food index was constructed based upon a survey of grocery prices across different states supplemented by data from the U.S. Bureau of Labor Statistics.

Housing

Housing prices were constructed from a composite of home purchase prices and rental prices. The contribution of purchase and rental weights were based upon the ratio of expense for owned and rental expenses in the Consumer Expenditure Survey. For both rented and owned housing, we weighted prices assuming that 25% of homes were 1-bedroom, 25% were 2-bedroom, and 50% were 3-bedroom.

Rental indices were constructed using data from the U.S. Department of Housing and Urban Development, which publishes 50th Percentile Rent Estimates. We used this data for 1-, 2-, and 3-bedroom units to create an index for rental prices for each city compared with nationwide average rents.

House price indices were constructed using data from Zillow’s Home Value Index, comparing the price of 1-, 2-, and 3-bedroom homes to the national average home prices, and indexing each city’s home prices.

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Utilities

Our utilities index was constructed based on three categories of spending: natural gas, electricity, and household operations.

An index for natural gas was constructed using data from the U.S. Department of Energy’s Natural Gas prices, and a similar index was constructed using end-use electricity prices, also from the Department of Energy.

Prices for household operations, which include services such as home repair, gardening, cleaning, and other services were sourced from the Metropolitan Area Regional Price Parities for Services, published by the U.S. Bureau of Economic Analysis.

Transportation

The index for transportation costs was constructed considering three categories of expense: vehicle purchases, gasoline, and other vehicle expenses. Our index assumed vehicle purchase prices are largely uniform throughout the country.

A gasoline index was constructed using average retail gasoline prices around the country from Gasbuddy, comparing gasoline prices in each area to the national average.

Other vehicle expenses, consisting primarily of maintenance expenses, were indexed using the Bureau of Economic Analysis’s Metropolitan Area Regional Price Parities for Services.

Health Care

The health care expenditure index was constructed based upon information from the U.S. Department of Health & Human Services Medical Expenditure Panel Survey, which provides information about average premium costs for employees who receive health insurance through their employer. Additionally, we supplemented these costs with the average out-of-pocket costs paid by employees as estimated by The Commonwealth Fund. The sum of these costs formed the basis for our health care expenditure index.

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Consumer Discretionary Spending

We constructed a consumer discretionary spending index based upon the Bureau of Economic Analysis’s Metropolitan Area Regional Price Parities for Goods and Services. We weighted the spending between goods and services based upon the weights in the Consumer Expenditure Survey.

Sources

  1. Zillow Home Value Index (Data Provided by Zillow Group)
  2. U.S. Department of Housing and Urban Development, Office of Policy Development and Research, 50th Percentile Rent Estimates
  3. U.S. Department of Health & Human Services, Agency for Healthcare Research and Quality, Medical Expenditure Panel Survey
  4. The Commonwealth Fund, How Much U.S. Households with Employer Insurance Spend on Premiums and Out-of-Pocket Costs: A State-by-State Look
  5. U.S. Bureau of Labor Statistics, Consumer Expenditure Surveys
  6. U.S. Bureau of Economic Analysis, Regional Price Parities by State and Metro Area, Metropolitan Area Regional Price Parities
  7. U.S. Department of Energy, US Energy Information Administration, Natural Gas Prices
  8. U.S. Department of Energy, US Energy Information Administration, Electric Power Monthly, Average Price of Electricity to Ultimate Customers by End-Use Sector
  9. Gasbuddy, Average Regular Gas Price

FAQs

Where can I find cost of living data? ›

Salaries, Costs of Living, & Relocation
  • Bankrate.COM - www.bankrate.com. ...
  • Chamber of Commerce Directory - www.chamberofcommerce.com.
  • CityRating.com - www.cityrating.com. ...
  • CNN Money - http://money.cnn.com/best/bpretire.

What is the best site to compare cost of living? ›

7 Tools to Estimate and Compare Cost of Living in Various Cities
  • NerdWallet Cost of Living Calculator.
  • Numbeo.
  • PayScale Cost of Living Calculator.
  • Expatistan.
  • BestPlaces 2022 Cost of Living Calculator.
  • SmartAsset Cost of Living.
  • Ramsey Cost of Living Calculator.
28 Jul 2022

What does the cost of living index show us? ›

Cost of living indexes are meant to compare the expenses an average person can expect to incur to acquire food, shelter, transportation, energy, clothing, education, healthcare, childcare, and entertainment in different regions.

How do you do a cost of living analysis? ›

Simply add up all of your monthly fixed expenses, like rent or a mortgage payment, and your variable expenses, such as groceries and gas costs. Also factor in occasional but expected purchases, such as new tires. The resulting amount, assuming you aren't going to debt every month, is your cost of living.

Where can I find CPI data? ›

Contact Information For additional information about the CPI visit www.bls.gov/cpi or contact the CPI Information and Analysis Section at 202-691-7000 or cpi_info@bls.gov.

WHO publishes the cost of living index? ›

Since 1968, the Council for Community and Economic Research (C2ER) has collected and published cost of living index data at the local level.

What is the cost of living index for 2022? ›

Just recently, it was announced that the Social Security cost-of-living adjustment (COLA) for January 2022 was 5.9%, the highest increase in 40 years, due to the current increased cost of living. It's been predicted that the Social Security COLA for 2023 could be as high as 8.9% or even above.

Is Numbeo cost of living accurate? ›

Comparison against other international city data sources conducted by Ray Woodcock in 2017 suggests that Numbeo is often very inaccurate and misleading.

How do you compare cities? ›

These are some additional factors/metrics that you'd might want to consider when comparing two cities:
  1. Employment rates.
  2. Police officer per population ratio.
  3. Mobility and transportation.
  4. Retail and shopping amenities.
  5. Healthcare and hospitals.
  6. Sports and fitness amenities.
  7. Arts and cultural amenities.

What is the 2021 cost of living index? ›

SUMMARY: Under title II of the Social Security Act (Act), there will be a 5.9 percent cost-of-living increase in Social Security benefits effective December 2021.

What is the difference between cola and CPI? ›

Part of that amendment called for automatic annual cost of living increases to be made to Social Security payments based on the CPI. The COLA is defined as the percent increase between the third quarter average of the CPI-W for a given year and the previous peak third-quarter average of the CPI-W.

What city in the U.S. has the lowest cost of living? ›

It can be extremely expensive to live in big cities like New York, San Francisco, or Los Angeles. However, living in places, like Fort Wayne, Indiana, or Brownsville, Texas, can be more affordable. Fort Wayne, Indiana, was named the city with the lowest cost of living for 2022.

How accurate are cost of living calculators? ›

Cost of living calculators are reasonably accurate. As with any of these calculators, it all depends on the underlying data and the accuracy of any assumptions in the formula.

What is the COLA for 2022? ›

High inflation this year means that Social Security benefits will increase about 8.8% next year. That will be the largest cost-of-living adjustment (COLA) since 1981. That is also higher than the COLA for 2022, which was already a high 5.9%.

Is inflation the same as cost of living? ›

Key Takeaways. Inflation measures the increase in the price of goods and services. Or, the decrease in the buying power of the dollar. Cost-of-living measures the change, up or down, of the basic necessities of life, like food, housing, and healthcare.

What time is CPI data released? ›

Schedule of Releases for the Consumer Price Index
Reference MonthRelease DateRelease Time
December 2021Jan. 12, 202208:30 AM
January 2022Feb. 10, 202208:30 AM
February 2022Mar. 10, 202208:30 AM
March 2022Apr. 12, 202208:30 AM
10 more rows

Is inflation and CPI the same? ›

Inflation is an increase in the overall price level. The official inflation rate is tracked by calculating changes in a measure called the consumer price index (CPI). The CPI tracks changes in the cost of living over time.

What time does CPI data come out? ›

Try refreshing the page. On September 13, at 8am EST, the U.S. Bureau of Labor Statistics will release the Consumer Price Index (CPI) report for the month of August.

Which index number is known as cost of living index? ›

Consumer price index Consumer price index (CPI), also known as the cost of living index, measures the average change in retail prices. Consider the statement that the CPI for industrial workers (2001=100) is 277 in December 2014.

What is the cost of living index number? ›

A cost-of-living index is a theoretical price index that measures relative cost of living over time or regions. It is an index that measures differences in the price of goods and services, and allows for substitutions with other items as prices vary.

Where is the most expensive place to live in the US? ›

1. Manhattan (New York City) As of July 2022, the city's unemployment was 6.6%, a slight increase from the previous month and a drop from July 2021's unemployment rate of 10.1%. 6 That compares with a national unemployment rate of 3.5%.

What is the most expensive city to live in 2022? ›

Hong Kong tops Mercer's 2022 Cost of Living City Ranking, based on our latest research, followed by Zurich and Geneva, while Ankara closes the ranking at the 227th spot.

What is the cost of living index for 2023? ›

Social Security's Cost-of-Living Increase Will Be Largest in Four Decades, an Estimate Says. Retirees will learn the amount of the increase for 2023 in October, and the current estimate is that it will be 8.7%.

What is the most expensive state to live in 2022? ›

Here are the 10 states with the highest cost index:
  • Hawaii - 193.3.
  • New York - 148.2.
  • California - 142.2.
  • Massachusetts - 135.
  • Oregon - 130.1.
  • Alaska - 127.1.
  • Maryland - 124.
  • Connecticut - 121.6.

Can Numbeo COM be trusted? ›

Numbeo has a consumer rating of 3.05 stars from 19 reviews indicating that most customers are generally satisfied with their purchases. Numbeo ranks 40th among Reference Other sites.

Is NerdWallet cost of living calculator accurate? ›

NerdWallet's cost of living calculator is powered by data from The Council for Community and Economic Research (C2ER). According to the council, “C2ER produces the Cost of Living Index to provide a useful and reasonably accurate measure of living cost differences among urban areas.

Where is Numbeo located? ›

Where is Numbeo 's headquarters? Numbeo is located in Belgrade, Vojvodina, Serbia .

How do I choose the best city for me? ›

How to Choose the Right City for You
  1. Job Prospects. First and foremost, consider your job prospects and income potential before choosing a city. ...
  2. Demographics. ...
  3. Cost of Living. ...
  4. Housing Market. ...
  5. Education. ...
  6. Weather. ...
  7. Proximity to Family & Friends. ...
  8. Crime rates.
5 Dec 2018

Is Sperling's Best Places accurate? ›

Sperling's BestPlaces is the United States' most reliable and thorough resource for demographic data, from the national level down to the zip code (and everything in between).

Where should I live tool? ›

The 6 Best Sites That Help You Find the Best Places to Live
  • Niche.
  • Livability.
  • AreaVibes.
  • Teleport.
  • BestPlaces.
  • HomeSnacks.

What is a standard cost of living raise? ›

The Social Security Administration's (SSA's) COLA adjustment for 2021 was 1.3%; for 2022, it is 5.9%.

Which are the 10 most expensive states to live in? ›

Also listed below are average prices for selected items last year based on the 2021 Average Cost of Living Index by the Council for Community and Economic Research, C2ER.
...
Inflation is hitting these ten states the hardest.
  • Vermont. Vermont. ...
  • Rhode Island. ...
  • Connecticut. ...
  • Maryland. ...
  • Alaska. ...
  • Oregon. ...
  • Massachusetts. ...
  • 3. California.
13 Jul 2022

What is the average cost of living increase per year in the US? ›

The annual inflation rate for the United States is 8.3% for the 12 months ended August 2022 after rising 8.5% previously, according to U.S. Labor Department data published Sept. 13. The next inflation update is scheduled for release on Oct. 13 at 8:30 a.m. ET.

What are the three reasons why the CPI is hard to measure accurately? ›

The consumer price index is an imperfect measure of the cost of living for the following three reasons: substitution bias, the introduction of new goods, and unmeasured changes in quality. Because of measurement problems, the CPI overstates annual inflation by about 1 percentage point.

Is gas included in CPI? ›

Gasoline prices are so much more volatile than other CPI components that, even though gasoline makes up less than 6 percent of the CPI, it is often the main source of monthly price movements in the all items index.

What is the COLA increase for 2023? ›

And 2023's projected COLA increase — which was estimated at 9.6% in August — decreased to a projected 8.7%. “Across the board, retired and disabled Social Security recipients spend a bigger portion of their incomes on healthcare costs, housing, and food and less on gasoline,” Johnson wrote in mid-September.

Where is the cheapest nicest place to live in the US? ›

Lake Side Park in Fort Wayne, Indiana, named the most affordable city to live in America. In its report, Niche also ranked the cheapest places to live in the U.S. At the top of the list was Fort Wayne, Indiana, which also took the top spot in three previous years: 2021, 2019 and 2018.

Where is the cheapest and safest place to live in America? ›

Augusta, a small city near Georgia's border with South Carolina, is one of the cheapest and safest places to live in the USA. It has a low crime rate and a low cost of living, making it perfect for those looking to live comfortably and save money.

Where is the safest cheapest place to live? ›

America's Safest (and Most Affordable) Places to Live
  • Topeka, Kansas. Metro area: Topeka. ...
  • Madison, Wisconsin. Metro area: Madison. ...
  • Jackson, Mississippi. Metro area: Jackson. ...
  • Plano, Texas. Metro area: Dallas-Fort Worth-Arlington. ...
  • Grand Rapids, Michigan. ...
  • Naples, Florida. ...
  • Overland Park, Kansas. ...
  • Amarillo, Texas.
24 Apr 2019

What state has the cheapest cost of living? ›

Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi's housing costs are the lowest in the nation.

Is cost of living real? ›

Cost of living is a measurement based on the amount of money you need to cover your everyday expenses, such as housing, health care, and food.

Is Texas cheaper than Arizona? ›

Which state is more affordable? In short, Texas. The cost of living index and median housing prices are lower in Texas than in Arizona, but that also depends on the neighborhood you are in.

What is the inflation rate for 2022? ›

USA inflation summary for August 2022

The Consumer Price Index for United States of America is 296.171 for the month of August 2022. The inflation rate year over year is 8.263% (compared to 8.525% for the previous month). Inflation from July 2022 to August 2022 was -0.035%.

What does the COLA look like for 2023? ›

For now, the estimated Social Security cost of living adjustment (COLA) for 2023 is 8.7%, according to The Senior Citizens League, a non-partisan seniors advocacy group.

What is the cost-of-living increase for 2022 for employees? ›

Compensation costs for civilian workers increased 1.3 percent, seasonally adjusted, for the 3-month period ending in June 2022, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 1.4 percent and benefit costs increased 1.2 percent from March 2022. (See chart 1 and tables A, 1, 2, and 3.)

Who benefits from inflation? ›

2. Equity and Commodity Investors. Despite low economic growth rates, investors can benefit from inflation if they hold the correct stocks and commodities in their portfolios. Equity investors: Putting your money in stocks is much better than holding cash during times of high inflation.

Why is inflation so high 2022? ›

In early 2021, a worldwide increase in inflation began to occur. It has been attributed to various causes, including pandemic-related fiscal and monetary stimulus, supply shortages (including chip shortages and energy shortages), price gouging and as of 2022, the Russian invasion of Ukraine.

Is the US in an inflation crisis? ›

Inflation in the US is at a 40-year high – an astounding 9.1% year-over-year, according to a government report released Wednesday. Prices have climbed every month, while consumer confidence has hit record lows.

What is the cost of living index for 2022? ›

Just recently, it was announced that the Social Security cost-of-living adjustment (COLA) for January 2022 was 5.9%, the highest increase in 40 years, due to the current increased cost of living. It's been predicted that the Social Security COLA for 2023 could be as high as 8.9% or even above.

What is the cost of living increase for 2022 UK? ›

The annual rate of inflation reached 9.9% in August 2022, close to a 40 year high, affecting the affordability of goods and services for households. This briefing gives an overview of rising prices, particularly food, energy and fuel prices, including the effect of the conflict in Ukraine.

How much has cost of living increased 2022? ›

Consumer prices up 9.1 percent over the year ended June 2022, largest increase in 40 years : The Economics Daily: U.S. Bureau of Labor Statistics. The . gov means it's official.

What is the cost of living index for 2021? ›

SUMMARY: Under title II of the Social Security Act (Act), there will be a 5.9 percent cost-of-living increase in Social Security benefits effective December 2021.

What is the most expensive city to live in 2022? ›

Hong Kong tops Mercer's 2022 Cost of Living City Ranking, based on our latest research, followed by Zurich and Geneva, while Ankara closes the ranking at the 227th spot.

What is the cost of living index for 2023? ›

Social Security's Cost-of-Living Increase Will Be Largest in Four Decades, an Estimate Says. Retirees will learn the amount of the increase for 2023 in October, and the current estimate is that it will be 8.7%.

What is the most expensive state to live in 2022? ›

Here are the 10 states with the highest cost index:
  • Hawaii - 193.3.
  • New York - 148.2.
  • California - 142.2.
  • Massachusetts - 135.
  • Oregon - 130.1.
  • Alaska - 127.1.
  • Maryland - 124.
  • Connecticut - 121.6.

How long is the cost of living crisis going to last? ›

This year is likely to be remembered for the sharpest drop in household incomes on record, thanks to a dramatic surge in inflation. Household incomes might not start rising again until the second half of 2023, when inflation drops back.

What is causing inflation 2022? ›

In early 2021, a worldwide increase in inflation began to occur. It has been attributed to various causes, including pandemic-related fiscal and monetary stimulus, supply shortages (including chip shortages and energy shortages), price gouging and as of 2022, the Russian invasion of Ukraine.

Why is UK inflation so high? ›

Consumer goods and energy prices pushing inflation higher

Another important driver of inflation is energy prices, with household energy tariffs and petrol costs increasing. From August 2021 to August 2022, domestic gas prices increased by 96% and domestic electricity prices by 54%.

What is US inflation rate 2022? ›

USA inflation summary for August 2022

The inflation rate year over year is 8.263% (compared to 8.525% for the previous month). Inflation from July 2022 to August 2022 was -0.035%.

What was the cost of living increase from 2021 to 2022? ›

The study found that between March 2021 and March 2022, the average inflation on prices for all items increased by 8.5%, a significant increase compared to the year before when the increase was only 2.6%. It said that the average price for all items has gone up by more than 11% over the last two years.

Are we in a recession 2022? ›

According to the general definition—two consecutive quarters of negative gross domestic product (GDP)—the U.S. entered a recession in the summer of 2022. The organization that defines U.S. business cycles, the National Bureau of Economic Research (NBER), takes a different view.

What city in the US has the lowest cost of living? ›

It can be extremely expensive to live in big cities like New York, San Francisco, or Los Angeles. However, living in places, like Fort Wayne, Indiana, or Brownsville, Texas, can be more affordable. Fort Wayne, Indiana, was named the city with the lowest cost of living for 2022.

What is the most expensive city to live in the US? ›

New York City's Manhattan borough is the most costly place to live, followed by Honolulu and San Francisco. Oakland, Calif., rounds out the top 10 list of most expensive cities in the U.S.

What is a standard cost of living raise? ›

The Social Security Administration's (SSA's) COLA adjustment for 2021 was 1.3%; for 2022, it is 5.9%.

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