Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Arizona
AZNMPRPPSERVERENT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45.63
Year-over-Year Change
-22.28%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Arizona measures differences in housing costs within the state. This data is used to adjust income and other economic metrics for regional price 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
This index tracks the relative cost of housing services in nonmetropolitan areas of Arizona compared to the national average. It is an important component in understanding regional cost-of-living differences and calculating real personal income and GDP.
Methodology
The data is collected through surveys and modeled estimates by the U.S. Bureau of Economic Analysis.
Historical Context
This metric helps policymakers and analysts adjust economic data to account for geographic price differences.
Key Facts
- Arizona's nonmetropolitan housing costs were 77% of the national average in 2021.
- This index has declined from 80% of the U.S. average in 2010.
- Rural areas tend to have lower housing costs than urban centers.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the relative cost of housing services in nonmetropolitan areas of Arizona compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: It is an important component in understanding regional cost-of-living differences and calculating real personal income and GDP.
Q: How is this data collected or calculated?
A: The data is collected through surveys and modeled estimates by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This metric helps policymakers and analysts adjust economic data to account for geographic price differences.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so it may not reflect the most recent housing cost changes.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Arizona (AZNMPRPPSERVERENT), retrieved from FRED.