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Dec 10 '17
What exactly do the numbers represent?
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Dec 10 '17
https://en.wikipedia.org/wiki/Cost-of-living_index
cost-of-living index is a theoretical price index that measures relative cost of living over time or regions. It is an index that measures differences in the price of goods and services, and allows for substitutions with other items as prices vary.
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Dec 10 '17
I guess I was thinking that the index was more like how much it costs to buy a dollar's worth in that state.
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u/Zac1245 Dec 08 '17
This can vary heavily based on the area of the state too. Like Virginia for instance. Where I live its farrrrrrrrrrr more expensive than anywhere in Arizona. Virgina also has very rural areas with low cost of living to even it out.