North Louisiana’s Cost of Living Below National Average
The Cost of Living in North Louisiana is more than 10 percentage points below the national average, meaning families living in our region get more value for their dollar. The third quarter 2018 cost of living for the Shreveport-Bossier Metropolitan Statistical Area (MSA) is 90 percent of the national average. The Monroe MSA’s cost of living is 89.7 percent of the national average of 100 percent.
The Cost of Living Index published quarterly by the Council for Community and Economic Research (C2ER) estimates the amount of money needed to sustain a certain level of living, including basic expenses such as housing, food, health care, etc. It is based on more than 90,000 prices covering 60 different items collected from hundreds of participating communities. The Cost of Living Index measures regional cost differences in consumer goods and services. It's often used when comparing how expensive it is to live in one city versus another.
“Our region’s low cost of living attracts both businesses and families to North Louisiana,” said Scott Martinez, CEcD, President of North Louisiana Economic Partnership (NLEP). “Families can afford a better standard of living here, and North Louisiana companies can hire the talent they need at competitive wages.”