Norman ranks as second least expensive city in America
NORMAN, Okla. – Norman, Oklahoma is currently ranked as the second least expensive city to live in the U.S. according to the 2014 Cost of Living Index (COLI).
The only city ranked higher than Norman is Harlingen, TX. Not surprisingly, COLI lists Manhattan, NY as the most expensive city to live in.
“Some people may have the perception that if a community is inexpensive, somehow the quality of life does not measure up to other communities. But that’s not the case for Norman,” said Don Wood, Executive Director of the Norman Economic Development Coalition.
“What we see over and over again is that people who went to OU, or were raised in Oklahoma and then went off for their jobs, return when they are having families. It’s not because it is so affordable to live here – it’s the quality of life” said Wood.
The Norman Economic Development Coalition (NEDC) participated in the 2014 COLI by collecting prices of key consumer goods and services in the Norman community.
The COLI compares prices from city-to-city based on consumer goods and services but excludes taxes and non-consumer expenditures.
Six key categories used in the data collection include housing, utilities, grocery items, transportation, health care and miscellaneous goods and services. The information is compiled from participating economic developers and similar organizations.