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Cost of Living
For all that Greater St. Louis has to offer, the cost of living here is considerably low. In fact, the community has the lowest cost of living among the nation’s 20 largest metropolitan areas in the first quarter of 2009, according to the American Chamber of Commerce Researchers Association.
Cost of Living Index
| Cost of Living - Top 20 Metropolitan Areas | |
| Metro Area | Index |
| St. Louis | 87.6 |
| Houston | 89.2 |
| Cincinnati | 92.4 |
| Dallas | 92.9 |
| Atlanta | 94.9 |
| Tampa | 95.2 |
| U.S. | 100.0 |
| Detroit | 100.1 |
| Phoenix | 101.1 |
| Denver | 101.9 |
| Miami | 111.0 |
| Chicago | 113.5 |
| Philadelphia | 122.6 |
| Seattle | 125.7 |
| Boston | 129.5 |
| San Diego | 132.5 |
| Washington D.C. | 138.4 |
| Los Angeles | 142.2 |
| San Francisco | 164.9 |
| New York (Manhattan) | 219.3 |
| Source: The Council for Community and Economic Research (C2ER). Note: ACCRA Cost of Living Index 2009 1st Quarter |
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Housing Costs
Nationally, the St. Louis region has one of the most affordable housing markets in the country. According to the National Association of Home Builders, the area had a housing opportunity index of 86.2 in the 1st quarter of 2009, meaning that 86.2 percent of homes sold during that period were affordable to families earning the area’s median household income of $67,900.
| Most Affordable Housing - Top 20 Metropolitan Areas | |||
| Metro Area | Index | Median Income | |
| Detroit | 89.6 | $57,100 | |
| Minneapolis | 86.3 | $83,900 | |
| St. Louis | 86.2 | $67,900 | |
| Atlanta | 82.9 | $71,700 | |
| Pittsburgh | 82.5 | $62,500 | |
| Phoenix | 81.2 | $65,900 | |
| Washington, D.C. | 78.1 | $100,800 | |
| Tampa | 77.5 | $59,200 | |
| Dallas | 75.7 | $68,700 | |
| Boston | 72.9 | $83,900 | |
| Houston | 71.9 | $63,800 | |
| Baltimore | 69.9 | $82,100 | |
| Chicago | 68.7 | $74,600 | |
| Philadelphia | 61.2 | $75,500 | |
| San Diego | 58.8 | $74,900 | |
| Seattle | 57.0 | $84,300 | |
| Miami | 49.6 | $50,800 | |
| Los Angeles | 42.1 | $62,100 | |
| San Francisco | 32.1 | $96,800 | |
| New York | 21.5 | $64,800 | |
| Source: 1st Quarter 2009, NAHB Housing Opportunity Index by Affordability Rank. | |||
Locally, Granite City’s housing market is one of the most affordable in the St. Louis region. The following chart compares the average price of a home between 2,100 and 2,600 square feet, 3-5 bed, and 2-4 bath in surrounding cities.
*Sample sizes were of 20 homes per city.
*Price/s.f. calculated by dividing home price by size in square feet
for each City sample, then taking the average of the price/s.f. of all the city
samples.
*Sources include Coldwell Banker, Remax, and Prudential.
*A copy of the data and calculations may be requested by calling 618.452.6213.
| City Name | Average Home Price | Avg. Price/Sq. Ft. |
| Granite City | ||
| Collinsville | ||
| Troy | ||
| Maryville | ||
| Belleville | ||
| Glen Carbon | ||
| O'Fallon | ||
| Edwardsville |