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Regional: Bay Area Cities Spend 40 Percent More Than Nationall Average

Submitted by News Desk on Wed, 08/13/2008 - 10:00pm
Source: 
Households in the San Francisco-Oakland-San Jose metropolitan area spent about 40 percent more than the average U.S. household in 2005 and 2006, according to a survey released Wednesday by the U.S. Department of Labor Bureau of Labor Statistics.

The consumer expenditure survey indicated that the households in those Bay Area cities spent an average of $66,344 per year compared with a national average of $47,421.

Bay Area households also differed in the way they allocated their expenditures when compared with the typical household in the U.S.

While Bay Area residents spend a larger portion of their budget on housing and personal insurance, they spend less on health care and transportation, according to the study.

Bay Area residents spent about 40 percent of their total budget, or $26,382, on housing while the average U.S. household spent about 33 percent of their budget, or $15,650 on housing.

According to the Department of Labor, the survey cannot be used to make cost of living comparisons because expenditures can vary due to differences such as average age, consumer tastes and family size, in addition to prices of goods and services and family income.

Instead, the survey is used to measure the buying habits of the Americans.

Eighteen metropolitan areas and four geographic regions were included in the survey.