Norman is currently ranked as the second least expensive city to live in the U.S. according to the 2012 Cost of Living Index (COLI), which is published quarterly by The Council for Community and Economic Research (C2ER).
Ranked above Norman as the most affordable city to live in is Harlingen, TX and right behind Norman is Ardmore, OK. The national average of the COLI is 100 percent; making the most expensive city to live in, New York (Manhattan) NY, with a COLI of 229.6 percent compared to Norman's 80.9 percent.
The Norman Economic Development Coalition (NEDC) participated in the 2012 Cost of Living Index by collecting prices of key consumer goods and services in the Norman community. Since 2005, NEDC consistently collects and contributes data to COLI.
“Norman has such a high quality of life it is surprising the city is so affordable; this will be a great tool to assist us in our recruiting efforts,” said Don Wood, executive director of Norman Economic Development Coalition.
The Cost of Living Index compares prices from city-to-city based on consumer goods and services but excludes taxes and non-consumer expenditures. Six key categories include housing, utilities, grocery items, transportation, health care and miscellaneous goods and services. The information is compiled from participating economic developers and similar organizations.
The Council for Community and Economic Research (C2ER) is a nonprofit organization founded in 1961. They work to enhance data availability, data quality and promote learning about regional economic analytic methods. For more information about C2ER or the Cost of Living Index, please visit their website at c2er.org.