FRED can help us compare the relative cost of living across different regions in the US with data known as regional price parities (RPPs).

On February 19, 2026, the Bureau of Economic Analysis released RPPs for states and metro areas for the year 2024. Our FRED map above shows these new values.

Note that the data are reported as an index: A value of 100 equals the national average, and a value of 110, for example, indicates a cost of living 10% above the national average.

Highlights

• The highest value is 110.7, in California.
• The lowest value is 86.9, in Arkansas.
• Two states, Illinois and Arizona, have RPPs of 100, exactly equal to the national average.

These data can be incredibly useful for understanding cost differences around the nation, but they may not match an individual’s personal experience when moving from one location to another.

Things to consider

An RRP measures the cost of the same basket of goods and services of the average household in different locations. In reality, households’ baskets of goods and services vary based on factors such as their age and income.

The availability of certain goods and services is different in different locations, and people’s purchases often depend on their location. For example, does anyone in Miami own a snowblower?

Most importantly, the cost of housing varies significantly across the nation. In places where housing is more expensive, people will choose smaller lots and homes so they can afford other goods and services.

RPPs do not measure “affordability”

We shouldn’t think of RPPs (or the cost of living in general) as a measure of “affordability.” Affordability assumes that people living in the region have enough income to purchase the good or service in question. It’s often the case that higher-cost regions also have lower incomes.

In addition to RPPs, the BEA releases real per capita personal income, which is the average income in a region adjusted by its RPP.

After adjusting for cost of living, Wyoming has the highest real per capita income, at $75,501, followed by Connecticut at $74,254, both well above the national average of $59,195. Mississippi has the lowest real per capita income at $48,465.

How these maps were created: First map: Search FRED for and select “Regional Price Parities: Missouri” (series ID MORPPALL). In the right-hand corner, click the green “View Map.” Second map: Search FRED for and select “Real Per Capita Personal Income Missouri” (series ID MORPIPC). Click “View Map.”

Suggested by John Fuller and Charles Gascon.