Cost of Living Increase: How Far Does Your Cash Go in Shreveport?
There's good news and bad news when it comes to personal finances of Shreveport residents these days.
The bad news is that the average household bills for Shreveporters has grown a whopping 8.40 percent this year, most likely due to inflation. Consider the math of that equation. If you didn't get a raise in pay of at least 8.40 percent this year, then you are actually losing money.
Isn't that a kick in the teeth? You might have gotten a 3 percent raise and yet you're still losing 5.40 percent every month.
The good news is that apparently things could be a whole lot worse.
How Much Worse Could It Be?
In a recent research piece of 4,000 cities across all fifty states from doxoINSIGHTS, it was determined that Louisiana is the 29th most expensive state for household bills and Shreveport is the 22nd most expensive city in Louisiana for those same household bills.
With that in mind, you can obviously see that even though Shreveport residents are feeling the pinch in their wallets, there are many areas suffering through a much tougher financial crisis.
Among the findings from doxo, Louisiana residents spend an average $1,871 each month on the 10 most common household bills, however on a positive note, that is actually 6.6 percent lower than the national average of $2,003 per month.
Shreveport residents pay an average of $1,839 per month and among those average Shreveport monthly bills, here's what doxo found.
Shreveport Average Monthly Household Bills
- Mortgage - $1,088
- Rent - $816
- Auto Loans - $518
- Utilities - $287
- Health Insurance - $124
- Auto Insurance - $165
- Cable & Internet - $98
- Mobile Phone - $75
- Alarm & Security - $76
- Life Insurance - $97
And just because there are those who might wonder about some of our surrounding cities, especially in their comparison to Shreveport, here's what doxo found.
Average Monthly Bill Total For Shreveport and Area Cities
- Shreveport - $1,839 average per month
- Bossier City - $1,840 average per month
- Haughton - $1,750 average per month
- Marshall - $1,454 average per month
- Minden - $1,674 average per month
- Carthage - $1,399 average per month
Compare all those figures to the National Average of $2,003 per month for household bills and we look a little better.