Springfield cost of living remains lowest in state

For the second consecutive quarter, Springfield reported the lowest cost of living among the state’s seven metropolitan areas, according to the Missouri Economic Research and Information Center, a branch of the state’s Department of Economic Development. The center released fourth-quarter 2010 data in late January.

The city’s overall cost of living index is 88; followed by Joplin, 88.8; St. Louis, 90.4; Columbia, 91.66; St. Joseph, 92.2; Jefferson City, 92.9; and Kansas City, 97.7. The Springfield index is down slightly from the third-quarter 2010 index of 88.3.

The baseline cost of living index for the nation is 100.

Each of the participating Missouri cities had a composite index below the national average during fourth-quarter 2010.

The cost of living index for Missouri is 91.66, eighth lowest in the nation.
In general, the most expensive areas to live are New England, Alaska, Hawaii and the West Coast. The least expensive areas continue to be the Midwest and the South.

Of the 10 states with the lowest cost of living indexes, nine are in the Midwest or the South.

MERIC derives the cost of living index for each state from the Council for Community and Economic Research’s ACCRA cost of living survey, in which cities participate on a volunteer basis.

MERIC averages the indexes of participating cities and metropolitan areas. Missouri’s fourth-quarter cost of living index was down from the third-quarter 2010 index of 91.97.

Price information in the survey is governed by ACCRA collection guidelines, which strive for uniformity.

See more cost of living coverage in the Feb. 14 Springfield Business Journal print edition.[[In-content Ad]]