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Cost of Living in Manatee County


 
Economic Development Council Quarterly Report 
First Quarter 2010 Cost Of Living 
ACCRA Cost of Living Index
Among the 308 urban areas that participated in the first quarter 2010 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 over 16 percent below the national average in Pryor Creek OK.   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)
First Quarter 2010
                   National Average for 308 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 = 94.6
Most Expensive Least Expensive
Ranking Urban Areas COLI Index Ranking Urban Areas COLI Index
1     New York (Manhattan), NY 218.0 1    Pryor Creek, OK 84.3
2     New York (Brooklyn), NY 182.8 2    Cookeville, TN 84.8
3     Honolulu, HI 163.0 3    Fort Smith, AR 85.2
4     San Francisco, CA 162.1 4    Pueblo, CO 85.9
5     New York (Queens), NY 159.5 5    Douglas, GA 86.0
6     Truckee-Nevada County, CA 148.6 6    Harlingen, TX 86.1
7     Nassau County, NY 147.2 7    Muskogee, OK 86.4
8     Orange County, CA 146.5 8    McAllen, TX 86.5
9     Stamford, CT 145.9 9    Johnson City, TN 86.6
10     Fairbanks, AK 139.9 10    Conway, AR 86.8
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 three times a year by chambers of commerce, economic development organizations or 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 components – housing, utilities, grocery items, transportation, health care and miscellaneous goods and services.
The average ACCRA cost of living index for Manatee County for the first quarter of 2010 was 94.6 which is below the national average of 100.  In a comparison of ten national markets, Newark/Elizabeth, NJ was highest with an index of 128.8.   (Figure A)
                                           Figure A
                                             ACCRA Cost of Living Index: Selected Metro Areas
The following chart indicates prices in various markets around the state of Florida for the first quarter of 2010 (Figure B).  In a comparison of ten regions in Florida, Manatee County ranked 8th in the composite index.  The highest of the ten regions was Fort Lauderdale, with an index of 114.8 and the lowest, Jacksonville with an index of 91.8.
                                  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 a decrease of 3.2% and 3.1% respectively over the same period of 2009. (Figure C)
                                          Figure C
The categories of consumer non-durables and tourism showed an increase over the same period in 2009.  However, the categories of consumer durables and auto-related both showed a decrease from the same period in 2009.  In comparison with the state of Florida, all of the categories showed a higher percentage change except for the category of tourism. (Figure D)
                                          Figure D:  Taxable sales by selected categories 
Labor
                                 
Manatee County Six Month Unemployment Trend Comparison
               Source: Florida Department of Labor & Employment Security


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