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July 08, 2008

North Carolina's cost of living

Many costs outside North Carolina can be different, especially for housing, utilities and taxes. Do we have any measures of where North Carolina ranks with other states in a comprehensive cost of living index? Listen

Dr. Mike Walden, North Carolina Cooperative Extension economist in the College of Agriculture and Life Sciences at N.C. State University, responds:

"We do. Fortunately, there's a private group that puts these numbers together. They actually put them together every quarter. The costs include all the major consumer costs: housing, food, clothing, transportation, taxes. And what this group does is they rank states from the lowest cost to the highest cost, and they also compare them to a national average. The latest data, which was actually for the first quarter of this year, shows that North Carolina ranks 25th, right smack dab in the middle among all states in terms of a statewide cost of living. We actually had a cost of living slightly under the national average, about 3 percent under the national average. In terms of the components, we are lower on housing costs and utilities costs compared to the nation, but we're slightly higher on groceries and health care. The lowest cost of living state on the first quarter of this year from this organization is Oklahoma. The highest cost of living state right now is California."

Posted by Dave at July 8, 2008 08:00 AM