Economy/Cost of Living

Median Income and Housing Values

The chart below illustrates that median income levels in the area are among the highest ranking in comparison to some other cities,while our median housing values are lower.

This adds up to an affordable housing market in the area.

1999 Demographics

Greater Antelope Valley Economic Alliance

1 (800) 888-7483

Industry Roundtable Report

FIRST HALF 2000

Economy/Cost of Living

Retail Sector Taxable Sales Reports

Palmdale Taxable Sales

Taxable Sales January 31, 1999 January 31, 2000

General Retail $290,069,000 $316,807,100

Food Products $140,036,500 $152,619,900

Transportation $203,442,400 $233,031,300

Construction $69,457,700 $78,833,600

Business to Business $40,752,700 $72,537,700

Misc. $4,992,200 $5,052,200

Total $748,750,500 $828,881,800

Lancaster Taxable Sales

Taxable Sales December 31, 1998 December 31, 1999

General Consumer Goods $286,412,300 $285,105,300

Food & Drugs $77,745,800 $75,005,400

Autos & Transportation $207,244,400 $250,505,00

Building & Construction $69,127,700 $101,045,300

Business & Industry $77,181,700 $89,313,100

Restaurants & Hotels $93,576,800 $87,124,100

Total $919,065,900 $1,025,991,800

Sample Family Expenditures

Consumer Expenditures 1999 Yearly Total % of Income

Apparel $2,149 4%

Contributions $1,259 3%

Education $524 1%

Entertainment $2,663 6%

Food & Beverage $8,024 17%

Health Care $2,329 5%

Household $1,642 3%

Shelter $10,610 22%

Household Operations $900 2%

Misc. $1,911 4%

Personal Care $426 1%

Personal Insurance $759 2%

Reading $275 1%

Tobacco $330 1%

Transportation $9,555 20%

Utilities $3,045 6%

Gifts $1,394 3%

Total Retail Expenditures $22,362 47%

Based upon Total Family Expenditures of $47,795

Sources: Cities of Palmdale and Lancaster

Greater Antelope Valley Economic Alliance

1 (800) 888-7483

Industry Roundtable Report

FIRST HALF 2000

Economy/Cost of Living

Internet Cost of Living Comparison

Palmdale listed among cities for head-to-head comparison

Homefair.com, an internet relocation site, has designed a "Salary Calculator" to find annual salary data for original location, and annual salary data for a comparable standard of living in another area.

Palmdale fares very well in this comparison of city-to-city salary values. Lancaster and cities in the Southeastern Kern County region are not listed, salary values would be comparable.

The chart below shows how much a person would need to earn to maintain a similar standard of living standard if relocating from one of the cities listed to Palmdale.

With $50,000 Salary needed Difference with

Base Annual for same Standard $50,000 Salary

Salary in: of Living in Palmdale in Palmdale

Boston, MA $26,104 + $23,896

Dallas, TX $42,567 + $ 8,443

Concord, CA $39,551 + $10,449

Glendale, CA $31,986 + $18,014

Marietta, GA $42,779 + $ 7,221

Phoenix, AZ $47,298 + $ 2,702

Provo, UT $45,553 + $ 4,447

San Jose, CA $27,044 + $22,956

Seattle, WA $34,539 + $15,461

St. Louis, MO $52,948 - $ 2,948

Based upon a median income of $53,287 in our area, this difference represents disposable income which raises the standard of living significantly.

Source: Homefair.com

Sample results shown here are based on a relocating employee making $50,000 in his/her present location and planning to buy a home in the Antelope Valley. Calculations are also available on the web site for those who want to rent a home. Cost of housing is a key variable in the calculation, and the comparisons are available for both homebuyers and renters.

Industry Roundtable Report

FIRST HALF 2000

Greater Antelope Valley Economic Alliance

1 (800) 888-7483

Economy/Cost of Living

Cost of Living-ACCRA Survey

George B. Atkinson, Economic Alliance chairman of the board, noted that " the effort gave the Antelope Valley economy and individual businesses an important new edge in competing for new business, industry expansion and employee relocation."

We have been working at a disadvantage for a long time, because the official numbers for our cost of living here in the Valley were the numbers from Los Angeles.

It is important to our economic development, that real regional number will be used for future comparisons of cost-of- living data.

Cost of living information is in high demand from local companies, prospective employers, financial institutions and individuals and families being recruited to relocate here for employment.

To meet this demand, The Greater Antelope Valley Economic Alliance (GAVEA) staff contacted ACCRA (formerly the American Chambers of Commerce Research Association) earlier this year to persuade ACCRA to include the Antelope Valley region in the survey.

For three days in July a team of volunteer shoppers from the Lancaster and Palmdale Chambers of Commerce hit the stores and shops in a cost-of-living survey that the Greater Antelope Valley Economic Alliance is submitting to ACCRA, a national cost of living database. Larry Grooms, president and CEO of the Economic Alliance recognizes the cooperation, effort and support that came from our chambers of commerce volunteers.

Look for Antelope Valley Cost of Living Results in 2001!

The ACCRA surveys do not purport to show inflation, but rather to provide a reliable and uniform method of indexing costs of living across the whole country. ACCRA's website (www.ACCRA.org) offers comparisons of living costs for more than 300 American cities. Log on for more detailed reports.

For information about the program, call the Greater AV Economic Alliance at 945-2741.

To volunteer, call either the Lancaster or Palmdale Chamber of Commerce.

Greater Antelope Valley Economic Alliance

1 (800) 888-7483

Industry Roundtable Report
FIRST HALF 2000