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QUESTION:  How is cost of living calculated for Geographic Assessor analyses?

 

The cost-of-living comparison is based upon the earnings level specified for the Base Location applied to a US National Average spending pattern. Cost-of-living components include rent, renter's insurance, utilities, combined effective federal/state/provincial/local income taxes, consumables, transportation and health care costs.  

 

For a detailed explanation of ERI cost-of-living methodology, please refer to the documentation for the Relocation Assessor. It is important to note that the original Two City Comparison table only reports summary cost-of-living differentials based on the rental housing market and benchmark assumptions for each earnings level; the updated Two City Comparison table includes cost-of-living data for both rental and home ownership scenarios. (To upgrade your subscription of the Geographic Assessor to include the updated Two City Comparison table, contact info.eri@erieri.com.)