economic indicators

Providence named 2nd most expensive city by NerdWallet

COURTESY NERDWALLET.COM
ACCORDING TO NERDWALLET'S Quarter Pounder Index, Providence is the second most expensive city in the country based on the price of a quarter pounder with cheese from McDonalds.
Posted 5/20/13

SAN FRANCISCO – Personal finance website NerdWallet.com said Rhode Island’s capital city was the second most expensive in the United States, according to its “Quarter Pounder Index,” a basic cost-of-living guide that uses the price of a McDonald’s quarter pounder with cheese to gauge the cost-of-living differences between U.S. cities.

With a quarter pounder with cheese costing $4.52 in Providence, Rhode Island’s largest city was second in price only to Juneau, Alaska, where the cheeseburger costs $4.82. Boston ranked third with a price of $4.49 for the burger.

The national median price for a quarter pounder with cheese was $3.52.

NerdWallet called the differences between the most and least expensive cities “striking.” The McDonald’s burger costs more than twice as much in Juneau, Alaska, as it does in Conway, Ark. – the cheapest state – with a price of $2.24.

All of the New England states, except Vermont, had cities among the top 20 most expensive in the U.S. Massachusetts earned the No. 3 and No. 12 spots, with Boston and Framingham-Natick prices of $4.49 and $4.19, respectively. Manchester, N.H., was No. 7 at $4.28. Portland, Maine, was No. 9 at $4.23. Connecticut hit the No. 16 and No. 18 marks with the burger costs $4.08 and $4.03 in Hartford and New Haven, respectively.

To view the full report, visit: www.nerdwallet.com.

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