Cost of Living Calculator
Finding the right talent is challenging, especially with an unpredictable economy. For employers, it's critical to understand the day-to-day cost of living in your area – and to know the estimated or equivalent wage your hourly workers would need to cover those expenses.
Frequently asked questions
Adecco's calculator uses a proprietary algorithm, leveraging government resources and publicly available data sources. Our tool takes into account household make-up, location, and basic expenses.
Our estimated cost of living is a reference point that can be used when analyzing pay rate strategies and should be used in tandem with market compensation benchmarks.
Based on governmental and publicly available data sources, we estimate the monthly cost of Housing, Childcare, Food, Gas, Health Insurance, and ‘Other Costs’ to determine the hourly wage needed to cover these basic expenses. Expenses are also adjusted based on location and family size of the household.
Cost of living wage is the estimated amount needed to cover basic expenses based on the location and household size. Market wage is determined by the skill set, location, labor scarcity, and what the local competition is paying for similar jobs. Cost of living wage should be used in conjunction with market wages and market analysis before making any wage adjustments.
The estimated cost of living should be used as a reference point when determining compensation levels. The job skill set, labor scarcity, local competition, and other factors should all be taken into consideration when reviewing pay rates.
Data is pulled from sources like the Bureau of Labor Statistics, Department of Housing and Urban Development, Consumer Expenditure Survey, and US Energy Information Administration.
We pull the most recent data available. Some data sources are updated annually while others are updated monthly
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