DC Among Costliest Metros to Raise Families

A recent analysis of Economic Policy Institute data finds that DC is among the costliest metro areas in relation to annual expenditures on necessities. The data factors in the cost of necessities for over 600 metropolitan areas across the US and can be adjusted by family size. DC came in as the second most expensive metro area for a two parent, one child household with an annual cost of $81.7k to cover basic needs. One factor mentioned by EPI that provides a fairly predictive indicator of costs in an area is commercial rental rates, as higher rents are generally passed on to consumers in the form of higher prices. The area of Nantucket and Dukes on the Massachusetts coast came in first in the analysis with an annual expenditure necessities of $85.1k. EPI is a nonprofit think tank that advocates for economic policies that benefit low and middle-income workers. [NBC]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

D.C.'s Office Market Is Getting A Makeover

Judge Rules FBI Can't Scrap Maryland Headquarters Plan

CGI Merchant Had A-Rod's Backing And A $650M Fund. Then It Bought Trump's D.C. Hotel And It All Fell Apart

Brookfield Offloads 3-Building Silver Spring Office Complex

Student Housing Investor Buys Foggy Bottom Residences: The D.C. Deal Sheet

'We Messed Up With Rent Control': CRE Execs On MoCo's Multifamily Hurdle

New National Geographic Museum Food Hall By Winmar Blends Design With Elevated Dining

Commanders Pick Clark Construction, 2 Others To Build D.C. NFL Stadium

Maryland ICE Facility Construction Can Resume After Court Reinstates Permits

JBG Smith Says Loss Is Improbable From $356M Wardman Tower Ruling

Compass Coffee Says It Lacks Cash For Bankruptcy Plan, Seeks To Toss Case

PRP Buys Downtown Office Building From Tishman Speyer