Monroe MSA ranks among most affordable places to live in LA
November 20, 2017
According to the latest Cost of Living Index for the third quarter 2017, Shreveport and Monroe continue to rank among the most affordable places to live in Louisiana. The Monroe MSA has a cost of living of 92.2 percent of the national average - due in large part to the area’s low cost housing and health care.
“Cost of living is a major factor why people move into a community,” said Scott Martinez, President of North Louisiana Economic Partnership. “Our low cost of living attracts families, which in turn, enhances our workforce.”
The Cost of Living Index, published by the Council for Community and Economic Research, estimates the amount of money needed to sustain a certain level of living, including basic expenses such as housing, food, health care, etc. It is based on more than 90,000 prices collected from 267 participating communities in the third quarter of 2017. The Cost of Living Index measures regional cost differences in consumer goods and services. It’s often used when comparing how expensive it is to live in one city versus another.
The Monroe MSA includes Ouachita and Union Parishes. The lowest cost categories for the Monroe MSA including housing at 82.8 percent of the national average and health care at 85 percent. The next lowest cost categories are transportation (92.1 percent); miscellaneous goods and services (94.4 percent); grocery items (100.3 percent) and utilities (102.3 percent).
The University of Louisiana at Monroe Center for Business and Economic Research gathers the data for the Monroe MSA.
“Cost of living is a major factor why people move into a community,” said Scott Martinez, President of North Louisiana Economic Partnership. “Our low cost of living attracts families, which in turn, enhances our workforce.”
The Cost of Living Index, published by the Council for Community and Economic Research, estimates the amount of money needed to sustain a certain level of living, including basic expenses such as housing, food, health care, etc. It is based on more than 90,000 prices collected from 267 participating communities in the third quarter of 2017. The Cost of Living Index measures regional cost differences in consumer goods and services. It’s often used when comparing how expensive it is to live in one city versus another.
The Monroe MSA includes Ouachita and Union Parishes. The lowest cost categories for the Monroe MSA including housing at 82.8 percent of the national average and health care at 85 percent. The next lowest cost categories are transportation (92.1 percent); miscellaneous goods and services (94.4 percent); grocery items (100.3 percent) and utilities (102.3 percent).
The University of Louisiana at Monroe Center for Business and Economic Research gathers the data for the Monroe MSA.
Contact:
Courtney Hornsby, President
chornsby@westmonroechamber.org, (318) 325-1961
