Metrics for Cost-of-Living Analysis

by Marillyn Tefft, Senior Researcher 5. May 2015 14:36
Cost of living is frequently a key decision metric for opening and relocating business units. It is common for management to ask relocation and HR professionals to compare the company’s locations to the US National Average cost of living as a benchmark in analysis. The Relocation Assessor databases contain data for over 6,000 US locations of all sizes, which are used to establish this important benchmark. Since many companies are located in larger cities, it is useful to consider other averages in benchmark comparisons. Housing costs (both rental and home ownership), a key component of cost-of-living differentials between locations, are significantly higher in large cities. Using the cloud-based Relocation Assessor, we develop two additional benchmarks below: a US Large City Average and a US Large City Average which excludes New York City (NYC) and San Francisco (SF). The following cities are included: Atlanta, Boston, Chicago, Dallas, Los Angeles, New York, Miami, Philadelphia, San Francisco, and Washington, DC. [More]

Renting and Owning in Cities and Their Metro Areas

by Marillyn Tefft, Senior Researcher 16. March 2015 18:02
The decision to rent or own in a new city is often a key concern to relocating employees. Heightened awareness continues to be stimulated by recent headlines of rental prices increasing and tight vacancy rates. Compensation, HR, and mobility professionals require accurate housing data to provide useful cost-of-living metrics to relocating employees and to contribute to analysis used by management in business decisions. The Relocation Assessor data sets provide in-depth comparisons needed for these multiple uses.
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Cost of Living Index

by Marillyn Tefft, Senior Researcher 20. January 2015 13:28
ERI’s Cost of Living Index ranks the price of goods and services in heavily populated US cities as a percentage of the national average. Data is provided by ERI's Relocation Assessor. [More]

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