# Cost of Living

Seminole's cost-of-living index for the third quarter of 2018 is 86% and has consistently been 85% to 98% of the National average for the past five years. Cost-of-living indexes measure the relative price levels for consumer goods and services compared against the national average. The national average is always 100. Indexes below 100 indicate lower price (less expensive) than the national average. Housing is the biggest factor in the cost of living difference for Seminole Texas. Housing is rated at 85% compared to the national average.

### How it works

Breaking this down, on average ratepayers across the nation pay around \$100 for their utilities. Ratepayers in Seminole according to the index would pay around \$92 compared to the nations \$100. Therefore, your hard earned dollars can buy more goods in Seminole than anywhere else in the nation on average.

The Council for Community and Economic Research conducted a nationwide survey and calculates the cost-of-living index each quarter. Since the number of respondents to the survey changes each quarter it is impossible to compare a quarter with another quarter. A decline in the composite score or any category score does not necessarily mean prices have dropped, though this is possible. A drop in an index could also be caused if prices are rising locally and on the National average, but the local prices are rising at a smaller piece in the national average. The cost-of-living index is not a measure of inflation!

### Cost of living cities by Comparison

The following table compares the cost-of-living index for a city the size of Seminole in the third quarter of 2018:

### Cost of living salary adjustment

If you were living in Manhattan, New York and contemplating a job offer in Seminole, Texas how much of a decrease in your after-tax income can be taken and still be able to maintain your present lifestyle? Using the cost-of-living index you can estimate how much it would take.

Manhattan has a composite index of 227 and Seminole has a composite index of 98.5. You could maintain the same lifestyle with only 56.6% of your original salary.

Salary adjustment equals 100 x [(227-98.5)/227]= 56.6

If your after-tax salary is \$80,000 in Manhattan, you would need a salary of \$44,800.00 in Seminole, Texas to enjoy the same lifestyle. What if you were moving to Manhattan, New York from Seminole Texaswith an after-tax salary of 80,000. How much you have to earn in Manhattan (after taxes) to enjoy the same lifestyle you had in Seminal

Salary adjustment equals 100x [(227-98.5)98.5= 130%