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Cost of Living in Manatee County


 
Manatee Economic Development Council Quarterly Report 
Third Quarter 2011
ACCRA Cost of Living Index
Among the 305 urban areas that participated in the third quarter 2011 ACCRA Cost of Living Index, the after-tax cost for a professional/managerial standard of living ranged from more than twice the national average in New York (Manhattan) NY to almost 20 percent below the national average in Harlingen, TX.   The ACCRA Cost of Living Index is published quarterly by C2ER – The Council for Community and Economic Research.
The Ten Most and Least Expensive Urban Areas
 in the ACCRA Cost of Living Index (COLI)
Third Quarter 2011
                   National Average for 309 Urban Areas = 100                       
5   San Jose, CA 156.0 5   Palestine-Anderson County, TX 86.0
6   Orange County, CA 151.4 6   Clarksville, TN 86.4
7   Nassau County, NY 151.4 7   Muskogee, OK 86.4
8   Stamford, CT 149.0 8   Tupelo, MS 86.5
9   Oakland, CA 147.9 9   Morristown, TN 86.5
10   Los Angeles-Long Beach, CA 147.7 10   Ashland, OH 86.5
The ACCRA Cost of Living Index measures regional differences in the cost of consumer goods and services, excluding taxes and non-consumer expenditures, for professional and managerial households in the top income quintile.  It is based on more than 50,000 prices covering almost 60 different items for which prices are collected quarterly by chambers of commerce, economic development organizations or university applied economic centers in each participating urban area.  Small differences should not be interpreted as a showing a measurable difference.  The composite index is based on six components – housing, utilities, grocery items, transportation, health care and miscellaneous goods and services.
Manatee County = 96.5
Most Expensive Least Expensive
Ranking Urban Areas COLI Index Ranking Urban Areas COLI Index
1     New York (Manhattan), NY 223.9 1    Harlingen, TX 81.7
2     New York (Brooklyn), NY 185.5 2    Memphis, TN 84.0
3     Honolulu, HI 167.1 3    Ardmore, OK 84.1
4     San Francisco, CA 166.0 4    McAllen, TX 84.5
5     New York (Queens), NY 154.4 5    Waco, TX 84.7
6     San Jose, CA 152.4 6    Pryor Creek, OK 84.9
7     Stamford, CT 148.4 7    Richmond, IN 85.8
8     Washington, DC 147.5 8    Fayetteville, AR 86.1
9     Truckee-Nevada County, CA 145.3 9    Cookeville, TN 86.1
10     Orange County, CA 143.5 10    Temple, TX 86.1
The ACCRA Cost of Living Index measures regional differences in the cost of consumer goods and services, excluding taxes and non-consumer expenditures, for professional and managerial households in the top income quintile. It is based on more than 90,000 prices covering 60 different items for which prices are collected quarterly by chambers of commerce, economic development organizations, and university applied economic centers in each participating urban area. Small differences should not be interpreted as showing a measurable difference.
The composite index is based on six component categories – housing, utilities, grocery items, transportation, health care and miscellaneous goods and services. 
The average ACCRA cost of living index for Manatee County, for the third quarter of 2011, was 96.5 which is below the national average of 100.  In a comparison of ten national markets, Newark/Elizabeth, NJ was highest with an index of 131.7   (Figure A)
Figure A
                                          
The following chart indicates prices in various markets around the state of Florida for the third quarter 2011 (Figure B).  In a comparison of ten regions in Florida, Manatee County ranked 7th in the composite index.  The highest of the ten regions was Fort Lauderdale, with an index of 109.9 and the lowest, Tampa with an index of 91.3.
Figure B
Note:  Figure B indicates prices in sample categories.  The entire cost of living survey prices items in almost 60 different categories.
Business Activity
Taxable sales and sales tax collected in Manatee County both showed an increase of 5.8% and 7.1% respectively over the same period of 2010. (Figure C)
Figure C
All of the categories of consumer non-durables, tourism, consumer durables and auto-related showed an increase from the same period in 2010.  In comparison with the state of Florida, all of the categories showed a higher percentage change. (Figure D)
                                          Figure D
Labor
                                 
              
 Source: Florida Department of Labor & Employment Security


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