TEMPLE (September 3, 2012)--The Council for Community and Economic Research has released its newest rankings of the most and least expensive cities to live in across the nation.
Temple, which ranked the sixth least expensive place to live in the nation last quarter, is not included on the newest report.
However, with a composite index number of 87.9, the city falls just outside of the top ten least expensive places to live, COLI Project Manager Dean Frutiger said.
Last quarter, the organization gathered data from 309 urban areas and ranks them based on their Cost of Living Index.
"The Cost of Living Index measures regional differences in the cost of consumer goods and services, excluding taxes and non-consumer expenditures, for professional and managerial households in the top income quintile. It is based on more than 90,000 prices covering almost 60 different items for which prices are collected three times a year by chambers of commerce, economic development organizations or university applied economic centers in each participating urban area," the organizations website says.
The composite index is based on six components: housing, utilities, grocery items, transportation, health care and miscellaneous goods and services.
According to the newest report, New York cities remain the most expensive places to live in while Harlingen remains the top least expensive city to live in.
Wichita Falls and McAllen, also in Texas, take the number two and three spots for least expensive.
Temple's Cost of Living Index last quarter was 85.7, compared to the most expensive area, Manhattan, which received an index of 233.5.