March 1, 2015
TEMPLE, Texas— On the heels of a report identifying Temple as one of the best Texas cities for families, yet another report identifies Temple as one of the most affordable places to live. The 2014 Cost of Living Index recently released by The Council for Community and Economic Research (C2ER.) found that the cost of living index for Temple was 86.3, compared to the national average of 100 for 281 urban areas evaluated by C2ER.
“It is good to see some national recognition of what many in our community already knew,” Temple EDC President David Blackburn said. “With a cost of living that is almost 14% below the national average, we offer an extremely attractive place for businesses and for residents alike.” “The quality of place that we have created here, and continue to create, is most certainly a key component in our overall economic development efforts,” Blackburn said.
The Temple EDC conducts quarterly surveys of the costs of the same products in the Cost of Living Index quarterly reports. This enables the organization to accurately promote the low cost of living in Temple when companies are considering the community for relocation or expansion.
“If you’re looking for a place to live with affordable transportation, groceries, and utilities, Temple should be at the top of your list,” Temple Mayor Danny Dunn said. “The Cost of Living Index highlights that Temple is a great place live, work and raise a family. We are a growing City with high paying jobs and a high quality of life at an affordable price.”
The Cost of Living Index measures regional differences in the cost of consumer goods and services. It is based on more than 50,000 prices covering almost 60 different items for which prices are collected three times a year by chambers of commerce, economic development organizations, or university applied economic centers in each participating urban area.
The composite index is based on six components–housing, utilities, grocery items, transportation, health care, and miscellaneous goods and services.
C2ER publishes an unweighted average of data accumulated from the previous three pricing periods. The data presented represent average prices submitted for the first three quarters of 2014. For further details on the annual average methodology, please visit www.coli.org/Method.
Temple, Texas, is a community with a diverse economic base that includes healthcare, distribution and warehousing, and manufacturing as its foundation. Within 200 miles of a population of 19 million, Temple is strategically located 39 minutes north of the Austin Metro Area on I-35, making it central within the Southwest U.S. marketplace. For more information, visit www.choosetemple.com. ###