Wilmington Cost Of Living
Thursday, February 3rd, 2011
|3rd Quarter 2010 Cost of Living
|Select Southern Cities:
||Misc. Goods & Services
The ACCRA Cost of Living Index (see table above) measures the differences in the cost of consumer goods and services between cities, excluding taxes, for a middle-class standard of living. Approximately 300 urban areas in the United States participated in the most recent study. The results are based on the cost of more than 60 items that are priced by area chambers of commerce, economic development groups or similar organizations in each urban area during the same 3-day time frame. Each community is given a composite index in which the average score is 100 (if index numbers are above 100, they are more expensive than the average), derived from six categories. The index does not measure inflation. Instead, it serves as a snapshot of comparative costs between cities during a certain time period. Wilmington’s latest study scores, compared to other southern cities, are shown in the table above.
|Salary vs. Cost of Living: What to consider when evaluating a move
Some people won’t consider a move to a smaller city like Wilmington, where salaries may be lower, because they don’t want to lose purchasing power. But oftentimes the opposite is true.
Alternatively, some people are lured to another city for a bigger salary, only to find out that their disposable income—and consequently their quality of life—actually goes down, not up.
Why? Because the cost of living has to be measured versus the difference in salary. Companies in larger cities may offer larger salaries, but they also typically come with a higher cost of living.
If you are considering a move, use the cost of living calculator below to compare the cost of living between Wilmington and another city.
Data compiled and published by The Wilmington Chamber of Commerce