Thursday, August 7, 2008

New Program Monitors Cost of Living.

I've found this great free website that monitors the cost of living in major metropolitans throughout the country and thought I'd share it with you. The "Housing +Transportation Affordability Index" reviews median annual incomes for households in each unique metropolitan and then compares that to the ratio of the cost of housing plus transportation. (Both options are available--just housing or housing plus transportation).

Interesting, in nearly every metropolitan throughout the United States, families in the suburbs are always paying greater than 48% of their total incomes on just housing and transportation, while those who live in the city always are spending less, sometimes even less than 30% of their incomes. I guess this shouldn't be surprising, but at the same time it's interesting to note that the data is ubiquitous in almost of every major metropolitan area from coast-to-coast.

Basically, if you don't live in the city, you will be spending far more money to live away from it.