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GLENWOOD SPRINGS CHAMBER RESORT ASSOCIATON REVEALS COST OF LIVING COMPARISONS

November 5, 2014

Among the 264 urban areas that participated in the third quarter 2014 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 20 percent below the national average in McAllen, TX. Here in Glenwood Springs, CO, the cost of living ranks at 19.1 percent above the national average.   The Cost of Living Index is published quarterly by C2ER – The Council for Community and Economic Research. 

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 60 different items for which prices are collected quarterly by the Glenwood Springs chamber. 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.

 

 

 

 

The Ten Most and Least Expensive Urban Areas

in the Cost of Living Index (COLI)

Third Quarter 2014

National Average for 264 Urban Areas = 100

 

Most Expensive

 

Least Expensive

 

 

 

COL

 

 

   COL

Ranking

Urban Areas

Index

Ranking

Urban Areas

Index

1

New York (Manhattan) NY

214.5

1

McAllen TX

81.5

2

Honolulu HI

171.2

2

Ashland OH

83.4

3

New York (Brooklyn) NY

168.6

3

Harlingen TX

83.5

4

San Francisco CA

165.5

4

Martinsville-Henry County VA

84.6

5

Hilo HI

156.4

5

Richmond IN

84.6

6

Truckee-Nevada County CA

151.7

6

Idaho Falls ID

84.6

7

Orange County CA

145.9

7

Cookeville TN

85.0

8

Stamford CT

145.9

8

San Marcos TX

85.6

9

Oakland CA

139.0

9

Hattiesburg MS

85.6

10

Washington-Arlington-Alexandria DC-VA

138.8

10

Pueblo CO

85.9

 

 

 At 50 percent above the national average, housing is a significant factor in Glenwood Springs’ ranking.  Health care and transportation costs both measure 17 percent above the national average.

 

What Do Groceries Cost?

Each quarter, C2ER collects more than 90,000 prices from communities across the US for the Cost of Living Index. With food prices a big part of the national media attention, C2ER features those communities with the most and least expensive food costs as measured by the grocery item index number.  C2ER collects data on twenty-six items from a variety of surrogate categories to represent the grocery item component of the index.  Groceries in Glenwood Springs are only slightly above the national average (three percent).

 

The Five Most and Least Expensive Places for Grocery Items by Index Number

in the Cost of Living Index (COLI)

Third Quarter 2014

Average for 264 Urban Areas = 100

 

Most Expensive

 

Least Expensive

 

 

 

 

 

 

 

 

 

Ranking

Urban Areas

Index

Ranking

Urban Areas

Index

 

1

Hilo HI

160.1

1

Waco TX

80.6

2

Honolulu HI

155.3

2

Corpus Christi TX

80.7

3

Kodiak AK

136.2

3

San Marcos TX

82.5

4

Truckee-Nevada County CA

131.8

4

Brazoria County TX

82.7

5

Juneau AK

131.7

5

Kalamazoo MI

82.8

 

To access complete cost of living comparison between other cities and Glenwood Springs, the chamber has provided a link on their glenwoodchamber.com website.  You can also visit http://www.coli.org/ for an easy-to-use calculator.

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ABOUT THE GLENWOOD SPRINGS CHAMBER
Located in the heart of the downtown at 802 Grand Avenue in Glenwood Springs, CO, the Glenwood Springs Chamber is a not-for-profit membership organization.  Mission: The purpose of the GSCRA is to provide leadership, promote commerce, encourage measured growth and continue to support such endeavors which will enrich the quality of life in our community. For more information, or to become a chamber member phone 945-6589 or visit us on the web www.glenwoodchamber.com.


For Release:  Upon Receipt

Contact:   Angie Anderson

               (970)945-0784

    angie@glenwoodchamber.com