Numbers released show the cost to live in Columbia is cheaper than the national average. Living costs in Columbia were 7% below the national average according to the ACCRA Cost of Living Index provided by the Council for Community and Economic Research (C2ER). Columbia received a composite index figure of 93 for the first quarter of 2017. The figure refers to $100 worth of goods purchased in an average U.S. city only costing $93 in Columbia.
Items on which the Index is based have been carefully chosen to reflect the different categories of consumer expenditures. The Composite Index is based on six weighted components. Columbia’s figures for these components were: grocery items 99.8; housing 82.4; utilities 93.6; transportation 94.3; health care 99.1 and miscellaneous goods and services 97.6. Items are priced by Chamber staff three times a year at a specified time and according to standardized specifications. It is important to note that the Index does not measure inflation or price change over time.
“The cost of living in Columbia is consistently below the national average,” Columbia Chamber of Commerce President Matt McCormick said. “This continues to facilitate commerce efficiently between businesses and Columbians.”
Special thanks to our Chamber members who assist staff with our pricing efforts. The Chamber receives many requests for this vital information about our community and without your help, the Chamber would not be able to respond. Knowing our cost of living here in Columbia is lower than the average for the United States, we are better able to attract businesses and new residents to the area.
The Columbia Chamber of Commerce was established in 1905 and is a voluntary, member-supported organization of business, industrial and professional people who are dedicated to developing, promoting and maintaining a sound and healthy economic climate for Columbia. The Columbia Chamber of Commerce is recognized as a 5-Star Accredited Chamber by the United States Chamber of Commerce.