Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Maryland
MDNMPRPPSERVERENT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72.48
Year-over-Year Change
-11.42%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic trend measures the regional price parity for housing services in the nonmetropolitan portions of Maryland. It is an important indicator for understanding geographical differences in the cost of living across the state.
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 Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Maryland is an index that compares the relative price levels for housing services in nonmetropolitan areas of Maryland to the national average. It provides insights into the regional variation in the costs of living outside of major metropolitan regions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a survey-based methodology.
Historical Context
This metric is used by policymakers, economists, and businesses to assess geographic differences in the affordability of housing and the overall cost of living.
Key Facts
- Maryland's nonmetropolitan housing services are 80% of the national average.
- Costs vary significantly between metro and rural areas of the state.
- The index has shown steady increases over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the relative price levels for housing services in the nonmetropolitan portions of Maryland compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the regional variation in the cost of living across Maryland, which is crucial for understanding affordability and economic development.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a survey-based methodology.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and businesses to assess geographic differences in the affordability of housing and the overall cost of living in Maryland.
Q: Are there update delays or limitations?
A: The data is updated annually by the U.S. Bureau of Economic Analysis, so there may be a delay in the most recent information.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Maryland (MDNMPRPPSERVERENT), retrieved from FRED.