Tampa Hillsborough Economic Development Corporation’s latest Cost of Living Index report cites region’s greater overall affordability when compared with other state and nationally competing metros
TAMPA, Fla. – (Jan. 30, 2017) – For the third consecutive year, the Tampa metro area claims the lowest cost of living among major metro areas in the state of Florida, according to the latest Cost of Living Index (COLI) report issued by the Tampa Hillsborough Economic Development Corporation (EDC).
With a national average index of 100, Tampa’s 2016 COLI came in at 91.5, more than eight percent lower than the national average.
“Once again, the Tampa MSA’s overall affordability stands out when compared with competing metros in Florida and across the country,” said Robin DiSalvo, marketing research analyst for the Tampa Hillsborough EDC and author of the report. “The Tampa market still ranks number one in job demand in the state as well – making this region an incredibly good value for people looking to move to an area that offers them exciting new career opportunities in high-skill, high-wage industries like information technology and financial services.”
Compared to other Florida markets measured in the report, Tampa had the lowest index in miscellaneous goods and services and the second lowest index in housing. Palm Coast- Flagler County has the lowest overall cost of living in the state, at 90.6.
The composite index score is based upon individual scores for items including groceries, housing, utilities, transportation, health care, and miscellaneous goods and services, which are all weighted differently. Tampa’s lowest score was in housing, where the area came in at 75.9.
Note: Pensacola and Cape Coral-Fort Myers was not measured
Since 2011, the Tampa MSA has been at the top of the list for most affordable locations in the state of Florida.
For more information about the area’s Cost of Living scores, please visit the Tampa Hillsborough EDC’s Data Center: http://tampaedc.com/quality-of-life/.
About the Tampa Hillsborough Economic Development Corporation
The Tampa Hillsborough Economic Development Corporation is the lead designated economic development agency for Hillsborough County and the cities of Tampa, Plant City and Temple Terrace. A partnership between the public sector and private corporate investors, the EDC works to develop and sustain a thriving local economy through the attraction, retention and expansion of high-wage jobs and capital investment within targeted industry sectors, including Corporate Headquarters, Financial and Shared Services, Life Sciences, Defense and Security, and Manufacturing.
The Tampa Hillsborough Economic Development Corporation exists because of the generous support of over 100 corporations, Hillsborough County, and the cities of Tampa, Plant City and Temple Terrace. For more information, visit www.tampaedc.com.