(SHREVEPORT -  MONROE, La) The 2017 Annual Average Cost of Living Index ranks the Shreveport- Bossier City Metropolitan Statistical Area (MSA) and the Monroe MSA among some of the most affordable places to live in Louisiana. The Shreveport-Bossier City MSA has a cost of living of 90.9 percent of the national average, primarily because of its low cost housing and utilities. The Monroe MSA has a cost of living of 92.2 percent of the national average  ̶  due in large part to the MSA’s low cost housing and health care.  
 
“Our low cost of living means families get more bang for the buck which in turns enhances our standard of living,” said Scott Martinez, CEcD, President of North Louisiana Economic Partnership (NLEP). “Our housing, healthcare and utility costs are so much more affordable than the rest of the State and the nation, which means families here have more disposal income.” 

The Cost of Living Index, published by the Council for Community and Economic Research, estimates the amount of money needed to sustain a certain level of living, including basic expenses such as housing, food, health care, etc. It is based on more than 50,000 prices collected from communities across the United States. The Cost of Living Index measures regional cost differences in consumer goods and services. It's often used when comparing how expensive it is to live in one city versus another.
 
NLEP, an Accredited Economic Development Organization serving 14 parishes in North Louisiana, gathers the pricing information for the Shreveport-Bossier City MSA. The University of Louisiana at Monroe Center for Business and Economic Research gathers the data for the Monroe MSA. The information is compiled into a composite index, which is based on six weighted categories – grocery items (13.61%), housing (27.59%), utilities (10.06%), transportation (9.59%), health care (4.00%) and miscellaneous goods and services (35.15%).

The Shreveport-Bossier City MSA includes all of Caddo, Bossier, De Soto and Webster Parishes. For the Shreveport-Bossier City MSA, the lowest cost category is utilities at 75.1 percent of the national average  ̶ the lowest in the State. Housing is only 83.8 percent of the national average. The next lowest cost categories are transportation (93.4%); heath care (94.8%); miscellaneous goods and services (96.8%); and grocery items (99.2%).

The Monroe MSA includes Ouachita and Union Parishes. The lowest cost category for the Monroe MSA is housing which is 83.2 percent of the national average. Health care is 85.3 percent of the national average which is the lowest in the State.  The next lowest cost categories are transportation (91.0%); miscellaneous goods and services (96.4%); grocery items (100.2); and utilities (103.1%).

To see how the cost of living in Shreveport and Monroe compares with other communities around the nation, NLEP offers a Cost of Living calculator on our website, nlep.org/COLIcalculator.  Go to the Regional Data Center and click Cost of Living.  

The calculator allows you to determine the level of income you would need to move to Shreveport and Monroe from competitor cities, while maintaining your current standard of living based on the Cost of Living Index.  For example, if you earned $50,000 in Dallas, TX you would only need to earn $44,466 in Shreveport and $47,628 in Monroe to enjoy a comparable standard of living.  See how Shreveport and Monroe compare to other major cities.