The New Orleans-Metairie space is the costliest metropolitan in Louisiana primarily based on buying energy and Alexandria is the least.
The dimensions by which the cities are measured on by the nonpartisan Tax Basis utilizing U.S. Bureau of Financial Evaluation knowledge calculates how a lot $100 was price nationwide in essentially the most lately studied yr, 2022.
The report says $100 in San Francisco is price $84.80 and that very same quantity in Pine Bluff, Ark. is price $123.60.
Whereas these are the 2 most extremes, Louisiana’s cities sit someplace within the center, however extra on the Pine Bluff aspect.
In New Orleans, $100 is price $106.80 primarily based on the nation common. Baton Rouge is the subsequent costliest space at $108.10.
Each different metro space within the Pelican State has buying energy over $110. Lake Charles, Lafayette and Hammond hovers round $111, Shreveport-Bossier is $112.50, and Houma-Thibodeaux is $113.
That leaves Monroe and Alexandria to lap the sector. Monroe’s buying energy is $114.90 and Alexandria is $116, rivaling a number of the least expensive cities within the South.
Whereas buying energy largely measures the price of items and providers, one other essential stat to find out the price of dwelling in an space is earnings, particularly price-adjusted earnings.
This quantity is calculated by taking nominal earnings, which is fundamental complete earnings divided by inhabitants, and dividing it but once more by the worth degree.
For instance, San Francisco’s nominal per capita earnings is $123,152. It’s price-adjusted earnings is $104,455, in accordance the Bureau.
On the opposite aspect of the chart in Pine Bluff, nominal earnings is $41,764, however the price-adjusted quantity is $51,624.
When evaluating the 2, it’s additionally essential to think about that in San Francisco or different huge metro areas, the wealth disparity is larger, which means the common employee’s wage in Pine Bluff is far nearer to that price-adjusted common than the latter.
New Orleans’ nominal earnings is $66,588 and the adjusted quantity is $71,115.98.
In distinction, Alexandria’s nominal earnings is $53,765 and the common adjusted earnings is $62,367.40.