What factors influence cost of living?

Suddath WHAT FACTORS INFLUENCE COST OF LIVING? If you're planning to move to a city where the cost of living is high, you may wonder why it is this way. There are many factors that can influence the cost of living in an area. IN MANHATTAN HOUSING THE INVENTORY OF AVAILABLE HOUSING FALLS ABOUT DEMAND 25% In large cities, there is a limited amount of space to accommodate the mass of people who want to UNDER PROJECTED live there. In Manhattan, the inventory of available housing falls DEMAND AVERAGES about 25% under projected demand averages. THE MAGNET EFFECT THE SILICON VALLEY DRAWS MANY TALENTED INDIVIDUALS WITH THE MANY TECH COMPANIES The availability of high paying jobs, world-class entertainment and cultural institutions draws people to certain regions of the country, regardless of how expensive it is to live there. The cost of living in the IN THE AREA Silicon Valley region in California is 50 percent above the national average. Despite this, the area still draws a large number of talented individuals o work for one of the number of technology companies headquartered in the area. who want to w CITIES WITH LOW LOW RATE OF UNEMPLOYMENT UNEMPLOYMENT RATES CAN BE EXPENSIVE TO LIVE IN Cities with low unemployment rates can be expensive to live in, but residents feel confident that the large amount of jobs available will make it easy for them to stay employed. The unemployment rate in Austin, Texas, is 3.1 percent, lower than the national O00 unemployment rate of 5 percent. AVG. COST OF THE COST OF ITEMS YOU NEED CAN NECESSARY ITEMS VARY GREATLY O f9 The cost of items you need or want can vary greatly from city to city. Im Honolulu, a half-gallon of milk costs over three dollars, which is n FROM CITY TO CITY more than the national average of $157. But this is nothing compared to San Francisco, where a large cup of specialty coffee can cost fourteen dollars, nearly ten dollars more than the national average price. LOS ANGELES GAS PRICES $3.03 Though many factors contribute LOUISIANA & MISSISSIPPI s of c some markets around the country have notoriously high average prices. In early 2016, Los Angeles to the fluctuating prices of gas, $1.75 residents paid $3.03 a gallon, while residents of states bordering the Gulf of Mexico, like Louisiana and Mississippi paid $1.75 a gallon or less. If you're planning to move to a major city, Suddath® can help with best in class, affordable moving services. Contact us today to find out how we can help with your upcoming move. oet e tty eing c t twc.omterylac lend bocngete tenogl alg.comagn lye te- suddathrelocation.com 02016 Saddath Van Lines, Inc. US. DOT Ne. 2609 Fla. M No. 1411