Indian River County, FL Economic Development | 1216 21st St. Vero Beach FL 32960 | directored@indianrivered.com | 772.567.3491

Indian River County’s Composite Index Less than National Average

Jul. 18, 2016

Indian River County’s cost of living index measured 96.6, just under the national average of 100.0, according to the most recent ACCRA Cost of Living data.

The Index reflects cost differentials of consumer goods and services for professional and executive households in the top income quintile throughout the U.S.  It is based on more than 90,000 prices covering 60 different items in six categories: housing, utilities, grocery items, health care, transportation, plus miscellaneous goods and services.

This recent survey reflects indexes from data gathered in 260 communities, and ranges from the highest index of 227.0 in Manhattan to a low of 76.9 in McAllan, Texas.  “This type of data is often used by consultants when conducting their due diligence in the site selection process,” states Helene Caseltine, Economic Development Director for the Chamber. “It’s also helpful when an individual is considering a relocation from one city to another, especially in terms of salary negotiations.”

The Indian River County Chamber of Commerce has conducted the Cost of Living surveys since 1996 with assistance from Chamber volunteers. The Vero Beach-Sebastian area was one of 12 Florida communities to participate in the survey, and the only community in Florida’s Research Coast region to do so.

The Chamber provides a Cost-of-Living calculator on its website, comparing Indian River County to other participating communities in Florida and the U.S., based on the current price indexes as well as current demographic and other economic data.  

National results are published quarterly by C2ER – The Council for Community and Economic Research. In the first quarter of this year, Indian River County’s Composite Index ranked well below the cost of living in South Florida.  Miami-Dade and the Fort Lauderdale area had composite indexes of 114.1 and 116.1, respectively.     

 

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