Tampa's cost-of-living below national average
Goods and services tend to be less expensive in Tampa than the national average, according to a new analysis.
Driving the news: Each quarter, the Council for Community and Economic Research assembles a cost-of-living index designed to measure "regional differences in the cost of consumer goods and services."
- The group factors in housing, utilities, groceries, transportation, health care, and other goods and services. Its index is based on households in the top income quintile, Axios' Alex Fitzpatrick and Kavya Beheraj report.
How it works: An index value of 100 represents the national average cost of living across 269 cities.
- If a city has a value over 100, its cost of living is higher than average; under 100, lower than average.
By the numbers: Tampa's most expensive category was transportation (101.2) — but when stacked against other cities in Florida and across the nation, it leaned toward the cheaper side.
- Housing and grocery items in Tampa are more affordable than in other Florida cities, too. Our neighbors in Miami had a higher index value in every category the group looked at.
Of note: Because the list of participating cities changes each quarter, the cost-of-living index can't be used to measure inflation — but other indicators suggest that higher prices are certainly sticking around.
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