Regional Price Parities: Services: Housing for Utah
UTRPPSERVERENT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.23
Year-over-Year Change
9.46%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Housing for Utah measure the relative cost of housing services in Utah compared to the national average. This statistic is important for understanding regional differences 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 (RPPs) are a set of spatial price indexes published by the U.S. Bureau of Economic Analysis. The RPPs measure the differences in price levels across states and metropolitan areas for a given year, and are used to adjust incomes for geographic differences in purchasing power.
Methodology
The data is collected through surveys and other sources by the U.S. Bureau of Economic Analysis.
Historical Context
The RPPs are used by policymakers, researchers, and businesses to inform decisions related to cost-of-living adjustments, regional economic analysis, and market comparisons.
Key Facts
- Utah's housing services cost 93.2% of the national average in 2020.
- The RPPs for housing services have remained relatively stable in Utah over the past decade.
- Housing is a major component of the overall cost of living in a region.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Services: Housing for Utah measure the relative cost of housing services in Utah compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding regional differences in the cost of living, which can inform decisions related to cost-of-living adjustments, regional economic analysis, and market comparisons.
Q: How is this data collected or calculated?
A: The data is collected through surveys and other sources by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: The RPPs are used by policymakers, researchers, and businesses to inform decisions related to cost-of-living adjustments, regional economic analysis, and market comparisons.
Q: Are there update delays or limitations?
A: The RPPs are published annually with a lag, so the most recent data may not reflect the current economic conditions.
Related Trends
Electric Power Carbon Dioxide Emissions, Petroleum Coke for Utah
EMISSCO2VPCEIBUTA
State Government Tax Collections, Total Sales and Gross Receipts Taxes in Utah
UTSLGRTAX
Retail Trade Earnings in Utah
UTERET
Transportation Carbon Dioxide Emissions, All Fuels for Utah
EMISSCO2TOTVTCTOUTA
All Employees: Professional and Business Services: Legal Services in Utah
SMU49000006054110001SA
Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Utah
UTOTHTRANRGSP
Citation
U.S. Bureau of Economic Analysis, Regional Price Parities: Services: Housing for Utah (UTRPPSERVERENT), retrieved from FRED.