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QUESTION:  Why does the home size (in square feet) change when I modify the Base location?

 

ERI researchers constantly study the effect on expenditure patterns of the high (and ever climbing) rents and home prices in desirable cities with plentiful jobs and wage growth.  Recent analysis has allowed us to refine the Local and National Expenditures Patterns and adjust the benchmark square footage in each location for each Annual Earnings level.  As rents and home prices increase, a higher percentage of annual earnings is spent on housing, and, on average, a smaller living space (with fewer square feet) is affordable.  The Two City Comparison of the Geographic Assessor uses these default settings: Base City of the United States Average, Annual Earnings of $50,000, and home size of 1,613 square feet.  Prior to the April 2016 data release, 2,200 square feet (the National Expenditure Pattern) was used as the default for all Base locations.  Recent refinements to Local Expenditure datasets allow each Base location to have an individualized benchmark housing size to better reflect local housing costs.

 

See Data Background FAQ #20 for more information.

 

See Two City Comparison - Background for more information.