Accurate Rental Data Critical for Cost-of-Living Analysis

by Marillyn Tefft, Senior Researcher 1. October 2014 13:44
Rising demand for rentals combined with falling vacancy rates in the larger US cities mean tight rental markets. HR and mobility professionals need to closely monitor rental prices for relocating employees since housing is a major component of cost-of-living differentials. The desire of many Millennials to live in more urban settings and retain locational flexibility (rent rather than become homeowners) makes accurate rental data even more critical to analyzing and providing competitive relocation packages. The importance of precise cost-of-living data is magnified to organizations in attracting top talent in competitive industries. [More]

Housing Considerations for Short-Term Assignments

by Marillyn Tefft, Senior Researcher 2. July 2014 11:20
The increase in the number of short–term assignments (STAs) continues to allow flexibility and adaptability in supporting business objectives for a growing number of organizations both domestically and globally. Estimating the costs and understanding the benefits of STAs usually falls to HR and mobility professionals. Housing expenses are typically the largest component and a key issue in measuring ROI for limited length assignments. Whether implementing a direct reimbursement system or calculating a lump sum payment, professionals need accurate housing data to provide management with defensible budgets. Best practices should include the evaluation of serviced apartments or corporate housing as an alternative to extended hotel stays for assignments over ten days in length. [More]

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Relocation

Cost of Living for Three Top-Tech Cities

by Marillyn Tefft, Senior Researcher 25. March 2014 12:43
High-tech jobs have become one of the strongest job growth areas, especially in locations with many technology companies such as Seattle, San Diego, and Salt Lake City. Frequently, a skilled candidate will have job offers in these cities. Human resource and mobility professionals are frequently asked to understand and assess cost-of-living differentials for both management and employees. The data below helps understand some key differences between renting and owning. [More]

Same Salary with Different Cost of Living

by Marillyn Tefft, Senior Researcher 2. January 2014 12:57
It is important for HR and mobility professionals to understand cost-of- living (COL) differential analysis when presenting data to employees and management. Although it is most common for the home price to be the biggest determinant of overall COL differentials, each budget expenditure component contributes. To illustrate differences, ERI Economic Research Institute details below the estimated COL to maintain the same management/professional standard of living at a salary of $100,000 at the U.S. National Average in San Diego, Philadelphia, Atlanta, Chicago, Phoenix and Houston. Not surprisingly, in Houston, the COL is below the U.S. National Average, while, in Atlanta, it is slightly higher. In San Diego, the COL is significantly above the U.S. National Average. The U.S. National Average is calculated quarterly from the over 7,000 locations covered by ERI's Relocation Assessor data bases.
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Cost-of-Living Comparisons: Relocating from Austin

by Marillyn Tefft, Senior Researcher 30. December 2013 13:52
In our latest cost-of-living comparison using data from ERI’s Relocation Assessor, we examine a professional relocating from Austin, TX to three other U.S. locations. The analyses are meant as one-to-one comparisons based on replicating a typical professional lifestyle with annual earnings of $125,000 in Austin. In addition to the total cost-of-living comparisons, we’ve provided differentials for each of the major expenditure pattern components: consumables, transportation, health services, housing, and taxes.
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