COLUMBIA, Mo. – Numbers continue to prove that living in Columbia is easier on your bottom line. Living costs in Columbia were 7.3 percent below the nationwide 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 92.7 for the third quarter of 2018. The figure refers to $100 worth of goods purchased in an average U.S. city only costing $92.70 in Columbia.
Items on which the Index is based have been 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 97.4; housing 79.7; utilities 99.7; transportation 93.8; health care 101.5 and miscellaneous goods and services 98. Items are priced by Chamber staff 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.
“Columbia continues to be a desirable place to live,” Columbia Chamber of Commerce President Matt McCormick said. “When you consider that costs are lower than the national average, it makes Columbia even more attractive. Businesses take note of these costs too. Columbia’s cost of living is a remarkable economic development recruitment tool. Not only do you want to move your business to Columbia, but you want to move your family as well.”
The Chamber wishes to extend special thanks to our members who assist staff with 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 that our cost of living here in Columbia is lower than the national average, 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.