Thursday, November 21, 2024
Hawai'i Free Press

Current Articles | Archives

Monday, July 6, 2015
Honolulu Highest Cost of Living in USA
By Selected News Articles @ 2:31 PM :: 5903 Views :: Hawaii Statistics, Cost of Living

The Most Expensive Town in Each State

WS247: The prices of goods and services — whether they are essential such as housing, food, and medical care or luxury items such as tobacco and sports equipment — vary widely across the nation and within states.

Based on recently released price level data from the Bureau of Economic Analysis (BEA), 24/7 Wall St. reviewed the most expensive metropolitan areas in each state. Across all metro areas, Urban Honolulu, Hawaii has the highest cost of living, while Danville, Illinois is the least expensive place to live in the country....

According to Eric B. Figueroa, an expert on purchasing power parity at the BEA, price levels may vary across areas for a host of reasons. The amount of land available in any given area is one factor. Rent and other living expenses are part of the regional price parity calculation, and rents tend to be higher in more-densely populated metropolitan areas.

While the exact relationship between wages and living costs is not identified by the BEA, Figueroa said, “Goods and services may have higher [prices] in areas that have higher wages relative to areas with lower wages.” The median household income in the most expensive city in 33 of the 50 states exceeded the national median of $52,250.

To identify the most expensive city in each state, 24/7 Wall St. reviewed the highest regional price parities among each state’s metro areas from the BEA. RPPs are expressed as a percentage of the national average price level (100) for goods and services in 2012, the most recent period available. We also reviewed socioeconomic data, including median household income, per capita income, educational attainment rates, poverty rates, and homeownership rates from the U.S. Census Bureau’s American Community Survey (ACS). Annual unemployment rates for 2014 came from the Bureau of Labor Statistics, (BLS)....

read ... The Most Expensive Town in Each State

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

MentalIllnessPolicy.org

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii

Obookiah

OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

RailRipoff.com

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

SenatorFong.com

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii