Yes the local cost of living matters, however it also depends on how you define success. If the minimum wage constitutes an overall increase in wages then you could consider that successful by some metrics. However if success is defined by people not living paycheck to paycheck and feeling financially secure then it would be unsuccessful...even at 15 an hour. We're setting such a low bar for ourselves still at 15 an hour IMO. People will still live paycheck to paycheck at that wage.