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New report reaffirms OKC affordability amidst national trends
Oklahoma City continues to maintain its ranking as one of the most affordable cities in the nation. That’s according to the third quarter results of the Cost of Living Index (COLI) published by C2ER – The Council for Community and Economic Research.
Data analyzed
The COLI measures regional differences in the cost of consumer goods and services. Prices are collected quarterly by chambers of commerce, economic development organizations and university applied economic centers in each participating urban area. The composite index is based on six component categories – housing, utilities, grocery items, transportation, health care and miscellaneous goods and services.
OKC’s impressive ranking
According to the latest results, Oklahoma City boasts an overall composite index value of 84.9, which is 15 points below the national average. This places the city in the lowest quartile, ranking 23rd among 269 participating cities. The slight increase of 1.7 points from the previous quarter indicates the city's stability amidst economic fluctuations, emphasizing its economic resilience.
Breaking down the numbers
The composite index of 84.9 (+1.7) showcases a balanced approach to expenses, allowing residents to enjoy a high standard of living without breaking the bank. Notably, the housing component stands at 66.5 indicating ample affordable housing options. The component saw a 6.5-point decrease from the previous quarter.
A land of quality living
In a world where affordability is often a luxury, Oklahoma City stands tall, offering its residents not just a place to live but a community where financial stability and quality of life go hand in hand. As other cities navigate the complexities of urban living costs, Oklahoma City serves as a beacon of hope, proving that accessible living is not just a dream but a tangible reality.
