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Where cost of living increased and decreased most

SmartAsset and Stacker reported that between 2023 and 2024, Lima, Ohio, experienced the largest cost of living decrease among 240 U.S. Cities analyzed.
This analysis used inflation-adjusted data for essentials including housing, utilities, and medical costs from C2ER to measure price changes year over year.
Lima's cost of living dropped by 4.4%, with 14 cities seeing decreases while Peoria, Illinois, and Queens, New York, had the largest increases of 12.8% and 11.5%, respectively.
Queens' cost of living is about 50% above the national average, while Peoria remains roughly 4% below, illustrating diverse regional economic conditions.
These shifts in local costs could affect residents, businesses, and governments, who should monitor rapid price changes influenced by geography and demographics.

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Where cost of living increased and decreased most

SmartAsset compared relative cost of living data across 240 U.S. cities between 2023 and 2024 to identify places where costs are changing most suddenly.

19 hours ago

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