Columbia cost of living 7.5% lower than national average

1 year 1 month 2 weeks ago Friday, September 02 2016 Sep 2, 2016 Friday, September 02, 2016 6:33:00 PM CDT September 02, 2016 in News
By: Shannon Shaver, KOMU 8 Reporter
loading

COLUMBIA – The cost of living in Columbia remains lower than the national average this year.

Numbers released Thursday show that living costs in Columbia are 7.5% less than the national average. That’s according to the Council for Community and Economic Research’s ACCRA Cost of Living Index.

The index shows Columbia received a composite index figure of 92.5 for the second quarter of 2016, meaning that $100 worth of goods in an average U.S. city only cost $92.50 in Columbia during that time.

President of the Columbia Chamber of Commerce Matt McCormick said Columbia has consistently remained under that $100 average.

“What we constantly have is a lower than national average cost of living,” McCormick said. “What that shows for the community is that it’s a great place, it’s an affordable place to live, it’s an affordable place to be.”

A composite index figure is determined quarterly and is measured using six different components. These components include grocery items, housing, utilities, transportation, health care and miscellaneous goods and services.

McCormick explained that it is hard to compare cost of living from quarter to quarter because different things are measured each time.

For example, he said during one quarter an oil change price may be used to measure the costs of goods and services, and the next quarter may use the price of a transmission fluid change instead.

McCormick said a lower cost of living is important to businesses looking to move to Columbia.

“That means a lot to businesses whenever they’re looking at moving here or looking at expanding, because not only do they move here, not only does the business come here, but they also bring people with them,” McCormick said.

Columbia’s index figure in 2015 was 97.5, and in 2014 it was 94.9.

More News

Grid
List
ST. LOUIS (AP) — In some St. Louis barber shops and beauty salons, customers might get sex education while having... More >>
43 minutes ago Sunday, October 22 2017 Oct 22, 2017 Sunday, October 22, 2017 11:50:00 AM CDT October 22, 2017 in News
Moberly - An arraignment is scheduled Monday for a Moberly man facing several felony charges ranging from incest, rape or... More >>
3 hours ago Sunday, October 22 2017 Oct 22, 2017 Sunday, October 22, 2017 9:00:00 AM CDT October 22, 2017 in News
COLUMBIA- Missouri and Kansas will play a friendly version of their 'Border War' rivalry for the first time since 2012.... More >>
5 hours ago Sunday, October 22 2017 Oct 22, 2017 Sunday, October 22, 2017 6:56:00 AM CDT October 22, 2017 in News
COLUMBIA - An armed robbery occurred Saturday night at an O’Reilly Auto Parts store on Cooper Drive. CPD officers... More >>
14 hours ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 10:10:35 PM CDT October 21, 2017 in News
COLUMBIA - One man was taken to a local hospital for a gunshot wound received Saturday night. CPD officers... More >>
14 hours ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 9:56:00 PM CDT October 21, 2017 in News
NEW FRANKLIN - The Missouri River Relief organized about 250 volunteers Saturday to remove trash from the Missouri River as... More >>
16 hours ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 7:38:00 PM CDT October 21, 2017 in News
COLUMBIA - Officers responded to reports of shots fired at about 6:00 p.m. Saturday at the McDonald's Restaurant on Stadium... More >>
16 hours ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 7:36:00 PM CDT October 21, 2017 in News
BOONE COUNTY – Four people were injured in a three-vehicle collision at Obermiller Road Saturday afternoon according to a sergeant... More >>
18 hours ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 6:24:00 PM CDT October 21, 2017 in News
FULTON - Dozens of trucks raced though the mud to raise money for the Central Missouri Honor Flight Saturday at... More >>
18 hours ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 5:48:00 PM CDT October 21, 2017 in News
JEFFERSON CITY (AP) — The state no longer will make children in foster care pay a $15 fee to get... More >>
19 hours ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 4:56:46 PM CDT October 21, 2017 in News
HOLTS SUMMIT- New bike lines were painted in Holts Summit Thursday to make cycling safer and more accessible. The... More >>
20 hours ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 3:49:00 PM CDT October 21, 2017 in News
JEFFERSON CITY- Local entrepreneurs walked away with some cash Saturday after an annual pitch off competition. The sixth annual... More >>
20 hours ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 3:42:00 PM CDT October 21, 2017 in News
ST. LOUIS (AP) — The St. Louis public school district is suing 32 teachers for breaking their contracts by leaving... More >>
20 hours ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 3:35:00 PM CDT October 21, 2017 in News
COLUMBIA - The University of Missouri Museum of Art and Archaeology hosted an explorative event on Saturday for International Archaeology... More >>
21 hours ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 3:23:00 PM CDT October 21, 2017 in News
ST. LOUIS (AP) — A St. Louis Community College professor was grabbed from behind by an officer, pulled to the... More >>
22 hours ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 1:33:18 PM CDT October 21, 2017 in News
MOBERLY - The Missouri Association of Student Financial Aid Personnel (MASFAP) is celebrating 50 years of providing greater access to... More >>
23 hours ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 1:09:00 PM CDT October 21, 2017 in News
KANSAS CITY (AP) — Kansas City's efforts to obtain $40 million in federal funding to replace an important bridge are... More >>
1 day ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 10:43:44 AM CDT October 21, 2017 in News
COLUMBIA - The Center Project, mid-Missouri's LGBTQ community center, will provide free health care and behavioral health services Saturday to... More >>
1 day ago Saturday, October 21 2017 Oct 21, 2017 Saturday, October 21, 2017 7:20:00 AM CDT October 21, 2017 in News
Columbia, MO
Broken Clouds 51°
1pm 53°
2pm 55°
3pm 56°
4pm 60°

Select a station to view its upcoming schedule:

Coming Up Next

11:00a
Figure Skating
1:00p
F1 Countdown
2:00p
Formula One Racing
12:30p
Family Guy
1:00p
Made in Hollywood NOW
1:30p
Crouching Tiger, Hidden Dragon

Tonight's Schedule

6:00p
Football Night in America
7:20p
Sunday Night Football
7:00p
Twisted
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Family Guy