Louisiana Cost Of Living Statistics


Steve Goldstein
Steve Goldstein
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Louisiana Cost Of Living Statistics 2023: Facts about Cost Of Living in Louisiana reflect the current socio-economic condition of the state.

louisiana

LLCBuddy editorial team did hours of research, collected all important statistics on Louisiana Cost Of Living, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to start a Louisiana LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.

How much of an impact will Louisiana Cost Of Living Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Louisiana Cost Of Living Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 7 Louisiana Cost Of Living Statistics on this page 🙂

Louisiana Cost Of Living “Latest” Statistics

  • An examination of data from McNeese State University and the website best places reveals that Louisiana’s total cost of living index score has decreased by more than 1% from 87.9 in 2019 to 86.9 in 2021.[1]
  • According to BestPlaces, Lafayette has a 2021 cost of living score of 88, ranking it as the third most expensive metro region in the state.[1]
  • In Louisiana, utilities are the second most affordable category (87.0%), miscellaneous goods and services (91.0%), transportation (96.9%), grocery items (97.3%), and health care (101.2%).[2]
  • According to statistics from McNeese, the cost of living in Baton Rouge decreased every year between 2014 and 2019.[1]
  • In Lake Charles, the cost of living score has fallen precipitously, according to 2019 statistics, dropping 6.2% from 88.6.[1]
  • According to McNeese, the cost of living in Alexandria decreased every year between 2014 and 2019.[1]
  • One of Louisiana’s more rural metro regions, Hammond, had its cost of living rise by 1.7%, making it the only one to do so since 2019.[1]

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How Useful is Louisiana Cost of Living

One of the biggest advantages of the Louisiana cost of living is the affordability of housing. Compared to many other states, housing costs in Louisiana are relatively low, making homeownership attainable for a larger portion of the population. This can be especially attractive to young families looking to establish roots without becoming overburdened by a hefty mortgage. Additionally, the low cost of housing can help attract new businesses to the state, as they may be able to offer lower wages to employees who can still afford to live comfortably due to the lower housing costs.

Another area where the Louisiana cost of living stands out is in terms of food and groceries. The state is known for its delicious cuisine, and residents can often enjoy eating out or cooking at home without breaking the bank. The affordability of groceries can be a major selling point for those who enjoy purchasing fresh, local produce and supporting farmers’ markets. This can also help to boost the local economy and promote a sense of community among residents.

However, the lower cost of living in Louisiana does come with its own set of drawbacks. One major concern is the lower average income levels in the state, which can make it challenging for residents to save for the future or invest in their education. Lower wages can also lead to higher rates of poverty and inequality, as some residents may struggle to make ends meet despite the lower overall cost of living.

Additionally, the lower cost of living in Louisiana is often offset by higher costs in other areas, such as transportation and healthcare. With limited public transportation options and a high reliance on cars, residents may find themselves spending a significant portion of their income on gasoline, maintenance, and insurance. Healthcare costs can also be a concern, as Louisiana ranks among the worst states in terms of healthcare access and affordability, leading some residents to forego necessary medical treatment or face financial hardships due to medical bills.

In conclusion, while the low cost of living in Louisiana can be a major draw for some residents, it is important to consider the broader implications of this affordability. High poverty rates, lower average incomes, and higher costs in other areas can offset the benefits of the low cost of living, leading to financial challenges for many residents. Ultimately, a holistic approach to assessing the usefulness of the Louisiana cost of living is needed to fully understand its impact on residents and the state as a whole.

Reference


  1. theadvertiser – https://www.theadvertiser.com/story/news/2021/11/15/cost-living-falls-louisiana-and-most-states-metro-areas/6171826001/
  2. bizmagsb – https://bizmagsb.com/2019/11/07/north-louisianas-cost-of-living-remains-the-lowest-in-the-dtate/

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