What is Cost of Living?

Cost of living is the amount of money needed to sustain a certain standard of living in a particular location. This measurement can be very useful for anyone who is keen on moving to a new city, state, or country, providing an accurate source of comparison between one’s current location and the one that they are considering for their move.

The cost of living index is a theoretical price index that measures and compares the relative cost of living of locations. As an index, the constant value for primary location is 100, while the values for the other location/s being compared to it are more or less than 100, depending on whether the cost of the expenses being compared to the primary location are more expensive or cheaper in those locations.

Agencies determine the cost of living of a location by gathering the prices of a representative sample of goods and services, and then taking into account how each of these items affect an individual’s budget within one year’s duration. Each item’s price is weighted based on its relevance to a typical family’s budget. Take a bottle of milk, for example. Although this costs much cheaper than a pair of jeans, when you consider the number of times you buy this commodity in a span of a year, the total amount for this item would me greater than the total amount you would have spent buying clothes.

2019 Cost of Living Index in Shreveport Bossier, LA

If you have plans to move to Shreveport Bossier, LA, you might want to check their cost of living index and compare it with your current city’s before making your final decision. Doing so would give you an idea about the affordability of this city and how the relocation might affect your budget. We have prepared the table below, which shows the most recent cost of living indexes for Shreveport Bossier, the state of Louisiana, and the United States, to help you assess your potential move. In this table, the primary location is the United States, so all of the values here are set at 100, while the values under Shreveport Bossier and Louisiana would either be higher or lower than 100, based on the actual values of the basic expenses in these areas.