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    HomeWorld12,000 More Troops Based in US to Get Cost-of-Living Allowances in 2024

    12,000 More Troops Based in US to Get Cost-of-Living Allowances in 2024

    12,000 More Troops Based in US to Get Cost-of-Living Allowances in 2024

    Thousands more service members, including those living in certain high-cost cities or counties in York, Virginia, Colorado, California and Oregon, will begin to receive the Defense Department's cost-of-living allowance for the continental U.S. in 2024.

    A defense official told .com that the latest annual update to the allowance means about 17,000 service members will receive a total of about $26 million in CONUS COLA payments in 2024, significantly more than in 2023, when about 5,000 troops received about $8 million.

    Unlike the overseas cost-of-living allowance, known as OCONUS COLA, which changes every month based on currency exchange rates, its CONUS counterpart changes only once a year in areas with high costs of goods and services unrelated to housing. Once an area's cost-of-living index exceeds 108% of the national average, it begins to qualify for CONUS COLA.

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    Each additional percentage point in costs beyond 108% adds a percentage point of COLA.

    The rate varies by geographic location, rank, years of service and whether the service member has dependents.

    Monthly CONUS COLA payments range from $38 to $61 per locality-based percentage point for service members with dependents; and from $25 to $47 for those without dependents. In New York , for example, with its 12% CONUS COLA, payments range from…

    Continue Reading This Article At Military.com

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