Regional Price Parities: Services: Housing: Nonmetropolitan Portion for North Carolina
NCNMPRPPSERVERENT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58.20
Year-over-Year Change
-3.65%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Housing: Nonmetropolitan Portion for North Carolina measures geographic differences in the price of housing services in nonmetropolitan areas of North Carolina. This metric is important for economists and policymakers to understand 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
This economic indicator tracks the relative prices of housing services in nonmetropolitan regions of North Carolina compared to the national average. It is used to adjust income data and other statistics for regional price differences, providing a more accurate picture of real economic conditions.
Methodology
The data is calculated by the Bureau of Economic Analysis using a survey of housing costs.
Historical Context
Regional price parity data informs decisions on federal program allocations, local economic development, and household migration patterns.
Key Facts
- North Carolina's nonmetropolitan housing services prices were 86.4% of the national average in 2020.
- Nonmetropolitan areas typically have lower housing costs than metropolitan regions.
- Regional price parities are used to adjust income data for cost-of-living differences.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the relative prices of housing services in nonmetropolitan areas of North Carolina compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: Regional price parity data is crucial for adjusting income statistics and understanding real economic conditions across different geographic areas.
Q: How is this data collected or calculated?
A: The Bureau of Economic Analysis calculates this metric using a survey of housing costs in nonmetropolitan North Carolina.
Q: How is this trend used in economic policy?
A: Regional price parity data informs decisions on federal program allocations, local economic development initiatives, and household migration patterns.
Q: Are there update delays or limitations?
A: This series is published annually with a lag, so the most recent data may not reflect the current economic situation.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Housing: Nonmetropolitan Portion for North Carolina (NCNMPRPPSERVERENT), retrieved from FRED.