North Louisiana’s Low Cost of Living Attracts Families and Companies
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News Releases
    Back to Media Center
    June 2, 2017

    North Louisiana’s Low Cost of Living Attracts Families and Companies

    (SHREVEPORT - MONROE, La.) The latest Cost of Living Index for the first quarter of 2017 continues to rank North Louisiana as one of the most affordable places to live in Louisiana. The Shreveport-Bossier City Metro has a cost of living of 89.9 percent of the national average. The Monroe Metro's cost of living is 93.5 percent of the national average.

    “Year after year, North Louisiana’s low of cost of living gives families more bang for their buck,” said Scott Martinez, CEcD, President of North Louisiana Economic Partnership (NLEP). “Families can afford a better standard of living, which allows companies to recruit the talent they need.”

    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 265 participating communities in the first quarter of 2017. 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 for 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 two lowest cost categories are utilities at 75.8 percent of the national average and housing at 84.3 percent of the national average.

    The Monroe MSA includes all of Ouachita and Union Parishes. For Monroe, the two most affordable cost categories are housing at 83.8 percent and health care at 87.1 percent of the national average.

    To see how North Louisiana’s cost of living 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 or Monroe and maintain your current standard of living based on the Cost of Living Index. For example, if you earned $50,000 in Denver, Colorado you would only need to earn $40,081 in Shreveport and $42,980 in Monroe to have a comparable standard of living. The following chart shows how North Louisiana compares with competing communities.

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    ABOUT NORTH LOUISIANA ECONOMIC PARTNERSHIP


    North Louisiana Economic Partnership, an Accredited Economic Development Organization, provides professional economic development services to the 14 parish region of North Louisiana, including lead generation and prospect management. The organization also represents the interests of North Louisiana with a unified voice and as a single point of contact. It acts as a catalyst, a convener, and a connector in the region to ensure that North Louisiana’s economic development potential is realized. Its vision is for North Louisiana to be a thriving region-a destination for high quality talent, innovative companies, and global investment. 
NLEP Events
  • February 6, 2018

    NLEP's Top Event>>

    Billed as a Celebration of Economic Development, the Top Event features respected site selector, Del Boyette, President & CEO of Boyette Strategic Advisors, who will discuss economic development trends that impact North Louisiana. The Top Event will be held February 6th at Sam's Town Hotel, Shreveport, LA starting at 5:30pm with a Reception followed by the Dinner and Program at 6:30pm. NLEP's Annual Meeting is considered the largest economic development event in North Louisiana, attracting 500 attendees last year.  The Top Event will also honor NLEP's Top Award Winnners. Thank you to our Presenting Sponsor, CenturyLink.





     

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