Regional Price Parities: Services: Housing for Alabama
ALRPPSERVERENT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61.56
Year-over-Year Change
1.17%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities for Services: Housing in Alabama measure the geographic differences in the cost of housing services within the state. This data is important for economists and policymakers analyzing regional cost-of-living variations.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Regional Price Parities (RPPs) are spatial price indexes that compare the average price level of a geographic area to the overall national average price level. The Services: Housing RPP for Alabama specifically captures differences in housing costs across the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a multilateral price index methodology.
Historical Context
RPPs are used to adjust income and other economic measures for geographic price differences, informing policy decisions and market analysis.
Key Facts
- Alabama's Services: Housing RPP was 92.3 in 2020.
- This means housing costs in Alabama were 7.7% below the national average.
- RPPs are published annually by the Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities for Services: Housing in Alabama measure the geographic variation in housing costs within the state compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding regional differences in the cost of living, which informs policy decisions and market analysis.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a multilateral price index methodology.
Q: How is this trend used in economic policy?
A: RPPs are used to adjust income and other economic measures for geographic price differences, informing policy decisions and market analysis.
Q: Are there update delays or limitations?
A: The RPPs are published annually by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Housing for Alabama (ALRPPSERVERENT), retrieved from FRED.