News - For Immediate Release
 
Contact: Linda Lampkin
PH 877.799.3428
FX
linda.lampkin@erieri.com
Cost-of-Living Index
REDMOND, WA - July 16, 2012 - ERI Economic Research Institute has recently released a Cost-of-Living Index for the third quarter. Rankings for the index are determined by the prices of goods and services by area based on Relocation Assessor® data as of July 1, 2012.

As expected, New York City is the most expensive metro area, coming in at 50.9% above the U.S. National Average. San Antonio received the top ranking at 4.1% below the national average. Of the top five least expensive cities, three are located in Texas. Half of the cities included in the index are more expensive than the national average by more than 10%.



 Rank
% of U.S. National Average
   
20.New York
150.9%
19.Los Angeles
130.1%
18.San Francisco
124.0%
17.San Diego
123.2%
16.Boston
122.4%
15.Washington, DC
121.8%
14.Chicago
117.0%
13.Philadelphia
114.7%
12.Minneapolis
111.9%
11.Seattle
111.7%
10.Denver
106.6%
9.Charlotte
103.0%
8.Phoenix
102.7%
7.Jacksonville
100.6%
6.Salt Lake City
100.3%
5.Columbus
99.6%
4.Austin
99.4%
3.Houston
98.9%
2.Indianapolis
98.3%
1.San Antonio
95.9%


Cost-of-living data are based on income and expenditure assumptions for a typical mid-level, professional lifestyle. Assumptions are held constant across each area. Goods and services used for price comparisons include housing, consumables, transportation, health services, and tax obligations.

ERI's Relocation Assessor® & COL Survey is a desktop software application that compares cost-of-living levels in over 11,500 areas. HR professionals and consultants utilize this software to calculate relocation bonuses (or salary adjustments) for transferred employees. Relationships are derived from thousands of cost-of-living data points gathered via ERI’s provision of web services, digitization of public records, patented online surveys, and other licensed UK, Canadian, US and international cost-of-living datasets.

For more information, visit http://www.erieri.com/RelocationAssessor.