Cost of Living

The City has a goal to nurture a diverse, stable, local economy that supports the basic needs of all segments of the community. The cost of living index is one tool used to monitor the local economy and determine the rent burden as the cost of living rises. The cost of living index is a useful way to consider changes in economic prosperity in the community due in part to changes in factors beyond the control of individual households such as inflation. The City is tracking this indicator because the relative purchasing power of the City’s households has an impact on the local economy and because the larger economic implications of a high cost of living impacts individual residents and the city as a whole.