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LOS ANGELES RANKS SIXTH IN LIVING COSTS AMONG NATION'S MAJOR METROPOLITAN AREAS, ACCORDING TO SURVEY

 EDS Says Survey Disproves Notion that Los Angeles County Is a
 High-Cost Location in Comparison with Other Major Urban Areas
 LOS ANGELES, Jan. 21 /PRNewswire/ -- The Los Angeles/Long Beach Metropolitan Area (Los Angeles County) ranks sixth in living costs among the nation's largest metropolitan areas, according to a survey just released by the Economic Development Corp. of Los Angeles County (EDC). The results come from a quarterly survey of living costs around the nation conducted by the American Chamber of Commerce Researcher's Association (ACCRA). The EDC does the pricing for Los Angeles County for ACCRA.
 "It's no surprise that the New York Metropolitan Area was the nation's most expensive area with a third quarter 1992 index of 214.2," said Jack Kyser, chief economist for the EDC. The national average is 100.0 based on the current sample of 300 areas. Boston was second with an index of 136.9, while Washington-Maryland-Virginia was third with a reading of 134.7. "The index for the Los Angeles area was 130.1, which indicates that the cost of living in the county is about 30 percent above the national average," Kyser pointed out. "This would have to be viewed as a favorable position vis-a-vis other major urban areas."
 The ACCRA survey is designed to provide a useful and reasonable accurate measure of living cost differences among urban areas in the United States. Fifty-nine items are priced to reflect a mid- management standard of living. This information is helpful to firms transferring employees from one location to another.
 The ACCRA index is also reported according to six groupings; grocery items, housing, utilities, transportation, health care and miscellaneous goods and services. The latter includes meals out, personal care items such as a haircut and entertainment. "It's not new news that Los Angeles did not fare well in housing with an index of 181.4," observed Kyser. The housing index readings were 373.7 for New York, 175.8 for Boston and 164.2 for Washington. "Health care costs are also somewhat of a concern for Los Angeles with a third quarter reading of 131.0," Kyser added.
 However, Los Angeles was well below the national average for utilities with a reading of 84.3. For grocery items, transportation and miscellaneous goods, the area was somewhat above the national average.
 "The ACCRA survey is a useful tool, but there are some limitations," Kyser noted. "It is a voluntary effort so major areas such as San Francisco, Chicago and Detroit are not included. Also, a number of smaller communities, such as Hot Springs, Ark., and Blythe, Calif., participate, which pushes down the national average."
 The ACCRA survey also yields some interesting bits of information, such as the cheapest place to buy a pizza. That's in Montpelier, Vt., where a 12-inch pizza costs $5.49. The most expensive pizza is found in the Virgin Islands, where it costs $12.30.
 ACCRA COST OF LIVING INDEX
 Metropolitan Areas Over 1.5 Million Population
 Third Quarter 1992
 Grocery
 Composite Items Housing Utilities
 New York (Manhattan) 214.2 144.7 373.7 171.8
 Boston 136.9 114.0 175.8 145.7
 Washington D.C.-Md.-Va. 134.7 119.2 164.2 115.3
 San Diego 132.3 109.1 195.5 71.2
 Philadelphia, Pa.-N.J. 131.5 119.5 145.6 189.4
 Los Angeles-Long Beach,
 Calif. 130.1 110.4 181.4 84.3
 Chicago (Schaumburg),
 Ill. 121.9 106.2 154.3 121.7
 Riverside-San Bernardino,
 Calif. (a) 120.1 105.8 141.9 89.5
 Seattle 117.7 117.3 146.5 62.4
 Cleveland 110.1 101.9 117.6 128.9
 Miami-Hialeah, Fla. 106.5 97.2 109.9 124.2
 Dallas 103.8 97.8 97.4 119.5
 Minneapolis-St. Paul,
 Minn.-Wisc. (b) 103.4 95.9 110.8 92.6
 Denver 103.0 97.1 109.5 92.1
 Houston 99.0 97.8 94.4 101.8
 Atlanta 98.8 98.5 97.7 113.1
 Phoenix 98.7 97.0 91.2 92.9
 St. Louis, Mo.-Ill. 96.6 100.7 95.0 105.5
 Tampa-St. Petersburg,
 Fla. (c) 95.6 97.7 91.8 102.4
 Kansas City, Mo.-Kan. 95.5 94.2 93.9 92.4
 Health Misc. Goods
 Transportation Care and Services
 New York (Manhattan) 124.3 202.1 150.8
 Boston 131.1 140.0 113.2
 Washington D.C.-Md.-Va. 133.1 135.4 122.2
 San Diego 129.8 134.3 106.4
 Philadelphia, Pa.-N.J. 112.7 128.0 115.8
 Los Angeles-Long Beach, Calif. 112.6 131.0 113.1
 Chicago (Schaumburg), Ill. 101.5 124.3 107.3
 Riverside-San Bernardino,
 Calif. (a) 119.1 126.4 115.1
 Seattle 110.7 138.4 108.0
 Cleveland 108.9 112.1 102.4
 Miami-Hialeah, Fla. 106.5 122.4 100.4
 Dallas 106.3 113.5 105.1
 Minneapolis-St. Paul,
 Minn.-Wisc. (b) 106.5 107.6 101.7
 Denver 110.1 119.0 98.4
 Houston 117.8 108.5 95.6
 Atlanta 96.7 113.4 94.6
 Phoenix 115.4 111.7 100.1
 St. Louis, Mo.-Ill. 97.9 102.3 93.0
 Tampa-St. Petersburg, Fla. (c) 99.4 98.5 94.5
 Kansas City, Mo.-Kan. 97.1 98.3 97.2
 (a) Unweighted average of Palm Springs and Riverside City, Calif.
 (b) Unweighted average of Minneapolis and St. Paul, Minn.
 (c) Data for Tampa, Fla.
 The quarterly "ACCRA Cost of Living Index" is available by subscription for $100 per year. Send check, payable to ACCRA, to ACCRA Subscription Office, P.O. Box 6749, Louisville, KY 40206-6749.
 ACCRA Cost of Living Index
 Prepared by ACCRA
 Metropolitan Area ACCRA Cost of
 Living Index
 (U.S. Average = 100)
 New York (Manhattan), N.Y. 214.2
 Boston 136.9
 Washington, D.C.-Md.-Va. 134.7
 San Diego 132.3
 Philadelphia, Pa.-N.J. 131.5
 Los Angeles 130.1
 Chicago (Schaumburg), Ill. 121.9
 Riverside-San Bernardino, Calif. (a) 120.1
 Seattle 117.7
 Cleveland 110.1
 Miami-Hialeah, Fla. 106.5
 Dallas 103.8
 Minneapolis-St. Paul, Minn. (b) 103.4
 Denver 103.0
 Houston 99.0
 Atlanta 98.8
 Phoenix 98.7
 St. Louis, Mo.-Ill. 96.6
 Tampa-St. Petersburg-Clearwater, Fla.(c) 95.6
 Kansas City, Mo.-Kan. 95.5
 (a) Unweighted average of Palm Springs and Riverside City, Calif.
 (b) Unweighted average of Minneapolis and St. Paul, Minn.
 (c) Data for Tampa, Fla.
 -0- 1/21/93
 /CONTACT: Jack A. Kyser, chief economist of the Economic Development Corp., 213-462-5111/


CO: Economic Development Corporation of Los Angeles County ST: California IN: FIN SU:

KJ-JL -- LA037 -- 7678 01/21/93 18:01 EST
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