 |
COST OF LIVING |
TYLER MSA COMPOSITE
2012 Third Quarter |
Category |
Index |
| Groceries |
92.3 |
| Housing |
86.1 |
| Utilities |
94.6 |
| Transportation |
95.9 |
| Health Care |
94.6 |
| Miscellaneous |
94.8 |
| Total |
92.1 |
Tyler's cost of living index at the third quarter of 2012 was 92.1 of 100, and has consistently been 90-96% of the national average for the past five years. Cost of living indexes measure the relative price levels for consumer goods and services compared against the national average. The national average is always 100. Indexes below 100 indicate lower prices (less expensive) than the national average.
For example, Tyler's grocery index is 92.3. If during the third quarter of 2012 you bought a $100 basket of groceries in a city with a grocery index of 100, you would pay $100, the national average, for those groceries. However, in Tyler, you would only pay $92.3 for that same basket of groceries - a savings of $7.7, or 7.7%. In other words, your hard-earned dollars can buy more goods in Tyler than anywhere in the nation on average.
The Council for Community and Economic Research (ACCRA) conducts a nationwide survey and calculates the cost of living index each quarter. Since the number of respondents to the survey change each quarter, it is impossible to compare a quarter with any other quarter. A decline in the composite score or any category score does not necessarily mean prices have dropped, though this is possible. A drop in an index could also be caused if prices are rising locally and on the national average, but the local prices are rising at a smaller pace than the national average. The cost of living index is not a measure of inflation!

The following table compares the cost of living index for cities the size of Tyler in the third quarter of 2012:
 |
Location
|
Index |
Tyler, TX |
92.1 |
| Burlington, VT |
122.5 |
| Fargo, ND |
|
| Joplin, MO |
88.7 |
| Lafayette, IN |
92.6 |
| Myrtle Beach, SC |
95 |
| Norman, OK |
85 |
| St. George, UT |
90.9 |
|
The following table compares the cost of living index for other U.S. cities, regardless of size, in the third quarter of 2012:
 |
Location |
Index |
Tyler, TX |
92.1 |
| Chicago, IL |
114.8 |
| Denver, CO |
103.2 |
| Fort Lauderdale, FL |
110.8 |
| Reno, NV |
89.7 |
| New York (Manhattan), NY |
229.5 |
| San Francisco, CA |
168.6 |
| Washington, DC |
141.7 |
|

The following 2012 salary rates in the table below were provided by the Bureau of Labor Statistics. You can also view other supplemental data found in our Labor Market Survey and Wage and Benefits Survey - two publications produced by the Tyler Economic Development Council every three years.
 |
Job Classification |
Tyler MSA |
Texas
|
Nation |
Accountant/Auditor |
$68,720 |
$71,850 |
$71,040 |
Bookkeeping/Accounting/Audit Clerk |
$33,600 |
$35,350 |
$36,640 |
Chief Executive |
$146,330 |
$181,830 |
$176,840 |
Civil Engineer |
$87,150 |
$94,790 |
$84,140 |
Computer Programmer |
$52,430 |
$78,590 |
$78,260 |
Customer Service Representative |
$27,150 |
$29,740 |
$33,110 |
Electrician |
$36,200 |
$43,240 |
$53,030 |
Executive Secretary/Administrative Asst |
$43,240 |
$49,680 |
$50,220 |
General/Operations Manager |
$94,010 |
$113,180 |
$114,850 |
Janitor/Cleaner |
$19,450 |
$20,730 |
$24,850 |
Loan Officer |
$54,510 |
$66,980 |
$70,350 |
Machinist |
$35,640 |
$40,110 |
$40,860 |
Middle School Teacher |
$44,920 |
$50,540 |
$56,180 |
Plumber, Pipefitter, & Steamfitter |
$47,070 |
$45,670 |
$52,950 |
Production Occupations |
$30,780 |
$34,060 |
$34,500 |
Registered Nurse |
$57,700 |
$66,350 |
$67,930 |
Shipping Clerk |
$29,120 |
$28,850 |
$30,700 |
Supervisor/Manager of Office/Administration |
$48,520 |
$52,740 |
$52,830 |
Truck Driver, Light |
$29,120 |
$32,670 |
$33,940 |
Welder/Cutter/Solderer/Brazer |
$39,000 |
$38,100 |
$38,100 |
|

If you were living in Manhattan, NY and contemplating a job offer in Tyler, TX, how much of a decrease in your after-taxes income can be taken and still be able to maintain your present lifestyle? Using the cost of living index, you can estimate how much it would take.
Manhattan has a composite index of 229.5 and Tyler has a composite index of 92.1 (see table above). You could maintain the same lifestyle with only 59.9% of your original salary!
Salary adjustment = 100 x [(92.1 - 229.5)/229.5)] = 59.9%
If your after-tax salary is $80,000 in Manhattan, you would need a salary of $47,895 in Tyler, TX to enjoy the same lifestyle. What if you were moving to Manhattan, NY from Tyler, TX with an after-tax salary of $80,000. How much you have to earn in Manhattan (after-taxes) to enjoy the same lifestyle you had in Tyler?
Salary adjustment = 100 x [(229.5 - 92.1)/92.1] = 149.2%
You would have to earn $199,349 to enjoy the same lifestyle in Manhattan as you did in Tyler!
|
 | The Tyler EDC was
awarded the
Community Economic Development Award
in 1997, 1999, & 2002 by the
Texas Economic
Development Council
in recognition of exemplary achievement in community economic development.
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