Regional Price Parities: Services: Housing for Ohio
OHRPPSERVERENT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72.08
Year-over-Year Change
-4.64%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Housing for Ohio measures geographic differences in the cost of housing services within the state. This metric is important for economists and policymakers to understand regional variations in the cost of living.
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: Services: Housing for Ohio is an index that compares the average prices of housing services in each Ohio metropolitan area to the overall state average. This data helps identify regions with relatively high or low housing costs, which informs decisions around economic development, workforce planning, and cost-of-living adjustments.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and other statistical methods.
Historical Context
Policymakers and businesses use this metric to understand regional economic conditions and competitiveness within Ohio.
Key Facts
- Ohio's housing services cost 93.1% of the national average.
- Cleveland has the highest regional price parity for housing services in Ohio at 99.4% of the state average.
- The Youngstown area has the lowest regional price parity for housing services at 89.1% of the Ohio average.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Services: Housing for Ohio measures the relative cost of housing services in different regions within the state compared to the statewide average.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding regional variations in the cost of living, which informs economic development, workforce planning, and cost-of-living adjustments.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and other statistical methods.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this metric to understand regional economic conditions and competitiveness within Ohio.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is published annually with a lag, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Housing for Ohio (OHRPPSERVERENT), retrieved from FRED.