NEWS - Lowcountry News

The Beaufort Regional Chamber of Commerce Visitor & Convention Bureau released today that the Beaufort/Port Royal/Bluffton’s cost of living index for the first quarter of 2010 was 104, just slightly over the national average of 100.

The area’s healthcare cost was just below the national index with a rating of 95.1.  Housing costs were at 102.1.  Utilities had the highest index at 115.

The cost of living index is administered by the American Chamber of Commerce Researchers Association (ACCRA).   “The Beaufort Regional Chamber of Commerce Visitor & Convention Bureau is pleased to provide economic data of this kind to help members and our business community understand where we fall as related to similar areas regionally and nationally,” stated Jimmy Boozer, 2010-2011 Board of Directors Chair.

While Beaufort is on par with national costs, other cities in South Carolina, with the exception of Hilton Head and Columbia, have lower indexes.  Greenville had the lowest index in the state at 91.1.  Charleston’s index for the quarter was 98.3, Columbia was 101.5 and Hilton Head was 113.2.  Housing costs in the rest of the state indexed in the low 90s or below.  Housing has the highest portion of the index at 28.99 percent.

The ACCRA cost of living index measures regional differences in the cost of consumer goods and services, excluding taxes and non-consumer expenditures, for professional and managerial households in the top income quintile.  The composite index is based on six components – housing, utilities, grocery items, transportation, health care and miscellaneous goods and services.