Tulsa Area Cost of Living

[cks511]

I seem to remember (memory is fleeting) hearing that Tulsa's cost of living was 4.1%  Can any of you confirm that or get me to the documentation to find out.

Thanks.

[AngieB]

I don't know what you mean...4.1% of what?

This cost of living calculator may help you: http://ww3.tulsachamber.com/calculator.asp

[rwarn17588]

4.1% of what?

I have seen national cost-of-living indexes that confirm that Tulsa's is very low.

[cannon_fodder]

Not sure what 4.1% would mean... the BLS uses a 100 point scale. With 100 being average.  Tulsa was a 90.1 in proper, and 88 for the MSA.
www.census.gov/compendia/statab/tables/07s0709.xls

data is from 2005.

So, on average, it is about 10% cheaper to live in Tulsa than the rest of the country.

[cks511]

4.1% lower than the national average.  thanks for the input, exactly what I needed.  You guys are pretty cool.

[Conan71]

I like your motto, I'm working toward that end. [}:)]

[Wilbur]

According to today's USAToday, Tulsa as the lowest housing rate in the nation.

[Double A]

quote:Originally posted by Wilbur

According to today's USAToday, Tulsa as the lowest housing rate in the nation.

The lower wages make up for the difference. We've been down this road before.

[swake]

quote:Originally posted by Double A

quote:Originally posted by Wilbur

According to today's USAToday, Tulsa as the lowest housing rate in the nation.

The lower wages make up for the difference. We've been down this road before.

Tulsa's income is above (barely) the national average while cost of living is well below. Last year there was a report that showed that we had the highest percentage of disposable income in the nation.

[cannon_fodder]

As much as I enjoy disagreeing with AA nay saying... he's right.

http://www.bls.gov/oes/current/oessrcma.htm

A random sampling of average wages (broken by the hour, MEDIAN given):

Tulsa: 13.19 (mean is 16.55, average income of 34,420)
OKC - 13.19 (mean of 16.69, average income of 34,710)
Little Rock - 12.94
Albuquerque - 13.48
Memphis - 13.55
Wichita - 13.89
Omaha - 14.23
Dallas - 14.54
Des Moines - 15.22
Portland - 16.19
Detroit - 17.57
NYC - 18.17

As you can see, Oklahoma is a cheap state to work in.  As someone who works a lot with labor issues, I can tell you it is at leas tin part because Oklahoma pays at least twice the workers comp rates of its neighbors.  Heavy industry rate in:
Oklahoma:  11.4% of wages paid
Arkansas: 6%
Kansas: 5%
(only states for which I have hard quotes, situation similar for other occupations with drastically lower overall rates)

So, at the average Tulsa wage of 13.19 the employer pays in an extra 73 cents an hour over our neighbors.  One can safely assume large employers consider this when moving here and/or setting compensation levels.  That extra $1200 (60 cents in a 2000 hour year) in someones pocket could go a long damn way.

I hope our government is using these stats to draw employers.  Certainly should be a selling point to attract business, which of course, is the only way to raise wages.

[swake]

quote:Originally posted by cannon_fodder

As much as I enjoy disagreeing with AA nay saying... he's right.

http://www.bls.gov/oes/current/oessrcma.htm

A random sampling of average wages (broken by the hour, MEDIAN given):

Tulsa: 13.19 (mean is 16.55, average income of 34,420)
OKC - 13.19 (mean of 16.69, average income of 34,710)
Little Rock - 12.94
Albuquerque - 13.48
Memphis - 13.55
Wichita - 13.89
Omaha - 14.23
Dallas - 14.54
Des Moines - 15.22
Portland - 16.19
Detroit - 17.57
NYC - 18.17

As you can see, Oklahoma is a cheap state to work in.  As someone who works a lot with labor issues, I can tell you it is at leas tin part because Oklahoma pays at least twice the workers comp rates of its neighbors.  Heavy industry rate in:
Oklahoma:  11.4% of wages paid
Arkansas: 6%
Kansas: 5%
(only states for which I have hard quotes, situation similar for other occupations with drastically lower overall rates)

So, at the average Tulsa wage of 13.19 the employer pays in an extra 73 cents an hour over our neighbors.  One can safely assume large employers consider this when moving here and/or setting compensation levels.  That extra $1200 (60 cents in a 2000 hour year) in someones pocket could go a long damn way.

I hope our government is using these stats to draw employers.  Certainly should be a selling point to attract business, which of course, is the only way to raise wages.

According this year's OSU study on the Oklahoma economy, the Tulsa MSA is at 100% of the national income average per capita income and Tulsa County is at 118% of the national average.

http://economy.okstate.edu/outlook/2007/Microsoft%20PowerPoint%20-%202007%20OSU%20Tulsa%20Forecast%20Presentation.pdf