Regional Price Parities: Services: Housing for Massachusetts
MARPPSERVERENT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
130.13
Year-over-Year Change
1.17%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities for Services: Housing in Massachusetts measure the relative cost of housing services within the state compared to the national average.
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 metric provides insight into the geographic variation in the cost of living across the United States. It is used by economists, policymakers, and businesses to analyze regional differences in purchasing power and standards of living.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a weighted average of rents and other housing costs.
Historical Context
This index is a key input for adjusting federal programs and informing economic development strategies.
Key Facts
- Massachusetts has the 3rd highest Regional Price Parity for housing services in the U.S.
- The index value for Massachusetts is 125.6, meaning housing costs are 25.6% above the national average.
- The Regional Price Parity for Massachusetts has increased by 8.3% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities for Services: Housing in Massachusetts measure the relative cost of housing services within the state compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the geographic variation in the cost of living across the United States, which is crucial for adjusting federal programs and informing economic development strategies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a weighted average of rents and other housing costs.
Q: How is this trend used in economic policy?
A: The Regional Price Parity index is a key input for adjusting federal programs and informing economic development strategies based on regional differences in purchasing power and standards of living.
Q: Are there update delays or limitations?
A: The Regional Price Parity data is published annually with a relatively short lag, making it a timely indicator of changes in regional housing costs.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Housing for Massachusetts (MARPPSERVERENT), retrieved from FRED.