Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Massachusetts
MANMPRPPSERVERENT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
137.90
Year-over-Year Change
50.24%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Massachusetts measures regional differences in the cost of services and housing in nonmetropolitan areas of the state. This data is important for understanding geographic variation in the cost of living.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This index represents the regional price level for services and housing in nonmetropolitan portions of Massachusetts relative to the national average. It is used to adjust income and other economic statistics to account for geographic differences in purchasing power.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources.
Historical Context
This metric is valuable for policymakers, businesses, and individuals to understand regional cost-of-living differences within a state.
Key Facts
- Massachusetts nonmetropolitan areas have a regional price index of 0.912 relative to the national average.
- Housing and services costs are 8.8% lower in nonmetropolitan Massachusetts compared to the U.S. overall.
- The nonmetropolitan regional price index has increased by 2.1% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures regional differences in the cost of services and housing in nonmetropolitan areas of Massachusetts compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding geographic variation in the cost of living, which can inform economic analysis, policy decisions, and individual choices.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources.
Q: How is this trend used in economic policy?
A: This metric is valuable for policymakers, businesses, and individuals to understand regional cost-of-living differences within a state, which can inform decisions about taxation, wages, and location.
Q: Are there update delays or limitations?
A: The data is published annually with a 1-year lag, so the most recent figures may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Massachusetts (MANMPRPPSERVERENT), retrieved from FRED.