Per Capita Personal Consumption Expenditures: Services: Housing and Utilities for Massachusetts
MAPCEPCHOUSUTL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,470.00
Year-over-Year Change
70.03%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on housing and utilities services in Massachusetts. It provides insights into consumer spending patterns and the state's 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
The Per Capita Personal Consumption Expenditures: Services: Housing and Utilities for Massachusetts metric tracks the average amount spent by Massachusetts residents on housing-related services, including rent, utilities, and other housing costs. This data point is used by economists and policymakers to analyze consumer behavior and the affordability of living in the state.
Methodology
The data is collected through household surveys and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely monitored by real estate investors, urban planners, and government agencies to understand housing market dynamics and cost-of-living pressures.
Key Facts
- Massachusetts per capita housing and utilities spending was $8,340 in 2021.
- Housing and utilities account for over 25% of personal consumption in Massachusetts.
- Per capita housing and utilities expenditures in Massachusetts are 12% above the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Massachusetts residents on housing-related services, including rent, utilities, and other housing costs.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer spending patterns and the cost of living in Massachusetts, which is important for real estate investors, urban planners, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and compiled by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by government agencies to understand housing market dynamics and cost-of-living pressures, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Housing and Utilities for Massachusetts (MAPCEPCHOUSUTL), retrieved from FRED.