VISIT GREATER FINDLAY
Cost of Living
STUDY SHOWS COST OF LIVING IS AFFORDABLE FOR CITY OF FINDLAY RESIDENTS
According to the first quarter 2008 American Chamber of Commerce Research Association (ACCRA) Cost of Living Index, the City of Findlay continues to be an affordable place to live.
The City of Findlay’s composite index for the first quarter of 2008 was 94.1, only a one percent increase from the 2007 first quarter index of 93.1 and a steady decrease from year’s past. The 2008 first quarter composite index is reduced 3.5 percent from the first quarter of 2006 (97.6) and further reduced by 5.1 percent from the first quarter of 2005 (100.2).
In comparison to Ohio cities of its size, the City of Findlay’s cost of living was 3.0 percent lower than Norwalk’s 97.1 composite index and 4.5 percent lower than Lima’s 98.6 composite index.
In a national comparison, the City of Findlay’s composite index for grocery items was 104.7; housing 79.9; utilities 96.5; transportation 103.9; healthcare 96.2; and 98.7 for miscellaneous goods and services. The most significant cost increase was among transportation services, including auto maintenance and gasoline, which rose 11.8 percent from the 2007 first quarter composite index of 92.1.
The Index is based on the six preceding components. Prices covering almost 60 different items are collected quarterly by chambers of commerce, economic development organizations or university applied economic centers in each participating urban area.
Compiled and published quarterly by The Council for Community and Economic Research (C2ER), GreaterFindlayInc. was among the 311 urban areas participating in the Index which measures regional differences in the cost of consumer goods and services, excluding taxes and non-consumer expenditures, for mid-management lifestyles in participating areas.
The average for all participating places in each quarter equals 100 and each participant's index is read as a percentage of the average for all places. However, small differences should not be construed as significant—or even as indicating correctly which area is the more expensive.
For more information on the ACCRA Cost of Living Index, contact GreaterFindlayInc. at 419-422-3313 or e-mail info@greaterfindlayinc.com.