Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Minnesota
MNNMPRPPSERVERENT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59.12
Year-over-Year Change
-4.69%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Minnesota measures the relative cost of housing services in non-metropolitan areas of Minnesota compared to the national average.
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 metric provides valuable insights into the geographic differences in the cost of living within a state, which is important for policymakers and economists analyzing regional economic trends and household purchasing power.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis using a proprietary methodology.
Historical Context
This indicator is used to adjust federal program eligibility and funding levels based on regional variation in the cost of living.
Key Facts
- Minnesota's non-metro housing costs are 91.2% of the national average.
- This metric helps adjust federal program eligibility based on regional cost differences.
- The data is collected by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This metric measures the relative cost of housing services in non-metropolitan areas of Minnesota compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: Understanding regional differences in the cost of living is important for policymakers and economists analyzing household purchasing power and the appropriate levels of federal program funding and eligibility.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis using a proprietary methodology.
Q: How is this trend used in economic policy?
A: This indicator is used to adjust federal program eligibility and funding levels based on regional variation in the cost of living.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but there may be lags in the release of the most recent figures.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Minnesota (MNNMPRPPSERVERENT), retrieved from FRED.