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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 City 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.  Please note that the Geographic Assessor profiles home rental situations only.  Home ownership is never assumed and is only profiled by the Relocation Assessor.  For the purpose of administering management and executive level cost-of-living adjustments, the home ownership profiles reported by the Relocation Assessor may be preferable.