Bozeman’s composite cost of living score 13% above national average
Housing: The third quarter 2013 housing index score was 113.5, meaning that area housing was 13.5 percent above the national average for the quarter. This is the highest score relative to national averages since the first quarter of 2009. The change in the housing index as relative to national averages reflects a marked improvement in the local real estate market—which other metrics such as area building permit figures, the average sale price of single family residences and zoning activity have been indicating.
All Other Categories: Bozeman residents continue to enjoy a bargain when it comes to utilities and transportation, which were 6.7 percent below average and 5.9 percent below average respectively. Also, groceries were 3.6 percent below the national average and goods and services came in at 2.4 percent below average. Health care was 4.9 percent above average this quarter, which is not unusual based on prior periods.
Area Comparisons: In Montana, Kalispell is currently the only other city participating in the cost of living study. The table below shows how Bozeman and Kalispell compare to other communities of similar size and composition. Kalispell continues to report a lower cost of living than Bozeman in all categories except for transportation and health care, which has been the trend for some time.
To put Bozeman and Kalispell’s index scores in perspective, the other cities included in the table below include the cities with the most expensive and least expensive composite scores for the quarter—Manhattan, New York and Norman, Oklahoma respectively. The table also includes the most comparable cities to Bozeman in the Western region that participate in the index. Note: San Francisco was included to provide insight into how Bozeman compares to the Bay area since none of the participating cities in California were comparable to Bozeman.
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Third Quarter 2013 Cost of Living Index
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City
|
Composite
Score
|
Groceries
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Housing
|
Utilities
|
Transportation
|
Health Care
|
Misc. Goods & Services
|
|
San Francisco, CA
|
159.9
|
117.9
|
285.5
|
97.7
|
113.6
|
119.2
|
115.5
|
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Grand Junction, CO
|
97.8
|
99.2
|
100.7
|
87.5
|
101.5
|
100.5
|
96.2
|
|
Idaho Falls, ID
|
87.3
|
81.1
|
66.4
|
97.0
|
107.4
|
98.5
|
95.2
|
|
Bozeman, MT
|
101.9
|
96.4
|
113.5
|
93.3
|
94.1
|
104.9
|
99.8
|
|
Kalispell, MT
|
95.0
|
94.7
|
81.8
|
92.9
|
98.4
|
107.5
|
103.7
|
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Manhattan, NY
Most expensive Q3 2013 |
221.3
|
132.0
|
448.3
|
139.8
|
123.1
|
103.9
|
148.8
|
|
Norman, OK
Least expensive Q3 2013
|
82.4
|
90.7
|
66.0
|
84.1
|
89.2
|
92.1
|
88.1
|
|
Klamath Falls, OR
|
93.8
|
91.5
|
84.0
|
97.0
|
112.3
|
104.5
|
93.4
|
|
Cedar City, UT
|
88.0
|
88.4
|
72.9
|
85.9
|
98.6
|
90.6
|
96.7
|
|
Olympia, WA
|
101.7
|
99.7
|
100.9
|
86.9
|
112.7
|
121.9
|
100.9
|
|
Laramie, WY
|
96.1
|
101.2
|
98.1
|
92.0
|
93.9
|
116.9
|
91.5
|
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The national average composite index is set at 100 each collection period. The index conveys relative price levels at a specific point in time and the index score can be seen as a percentage of the average for all places The Index does not measure inflation (price change over time).
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About the Cost of Living Index
The Cost of Living Index is a comparison study of over 300 urban areas around the nation. Three times each year, participating organizations collect data within their respective cities on consumer goods, services, housing, transportation, utilities, and healthcare. The study is intended to provide a measure of living cost differences among urban areas for a mid-management standard of living. Prospera Business Network, the local economic development organization, collects prices for over 60 items in Bozeman and submits its research to be analyzed and compared to other communities.
About C2ER, the Council for Community and Economic Research
About Prospera Business Network
