Business Excellence Awards
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By PBN Staff
PROVIDENCE – The Providence region was the 25th most expensive metro area in the United States in 2012, according to data from the Center for Regional Economic Competitiveness, WPRI.com reported.
Cost of living in the Providence metro area was 23 percent higher than the national average, according to the news source.
The Arlington, Va.-based research group six markers for each of roughly 300 metro areas: groceries, housing, utilities, transportation, medical care and miscellaneous.
The news source reported that housing costs weighed heaviest on residents of the Providence metro area at 32 percent higher than the national average. Residents pay 29 percent more than the national average for “miscellaneous,” 27 percent more for utilities, 17 percent more for health care and 5 percent for transportation.
Overall, the country’s most expensive locations were San Francisco at 163 percent above the national average, San Jose at 157 percent above the national average and Manhattan at 125 percent above the national average, reported WPRI.com.