It has a very high cost of living, so it robs your income out of your pocket just for everyday items like food, shelter, and transportation. A Cost of Living Index establishes a useful and reasonably accurate way to compare the cost of living differences between urban areas weighted by different categories of consumer expenditures for mid-management households.
The usual sectors of business monitored are housing, transportation, groceries, utilities, healthcare, and a miscellaneous category. The desirable data point in terms of the Cost of Living is the lowest value.
You can pull this data from places like the Census Bureau or the Department of Labor Statistics. I have chosen ERIC, the Missouri Economic Research and Information Center and their 2018 data for the purpose of this article.
Cities across the nation participate in the Council for Community & Economic Research (C2ER) survey on a volunteer basis. Price information in the survey is governed by C2ER collection guidelines that strive for uniformity.
C2ER has collected and published the cost of living index data at the local level since 1968. The second data point in my attempt to calculate the biggest bang for the RT buck is the annual salary of rad techs across the country.
This also gave me a reason to visit my old friend Wolfram Alpha for some calculations. I pulled the annual salary from all 51 states (their data included D.C.)and divided by 2080 which is the generally accepted total number of work hours in a year.
That is the value I have assigned as the outcome when you divide the Cost of Living Index with the Average Hourly Pay Rate of an RT. Even a decent hourly rate of $33.64 won’t help when you have THE HIGHEST cost of living in the country (dead last at 190.1).
Top 10 states to keep the earnings in your pocket (in order of most to least): Wyoming, Washington, New Mexico, Texas, Illinois, Nevada, Arizona, Minnesota, Delaware, and California. If you found this helpful and/or interesting, please share this article on social media.