Economic comparison of Virginia Beach, Atlanta, and a third city

¶ … cost of living, job market, and housing cost for each of the 3 areas being considered.

Cost of Living / Job Market

Virginia City, VA-

According to Sperling's Best Places, on an index ranking of 100 being the U.S. average, the Virginia Beach Metro area has a cost of living rating of 102.23. http://www.bestplaces.net/Metro/Virginia_Beach-Norfolk-Newport_News_VA-COSTLIV-34726000090.aspx

In the Virginia City area, the housing market median rose from $121,500 in 2000 to an estimated $286,200 in 2008 for a condo or average house in comparison with the Virginia average at $269,600 for the same housing. The average cost of mobile homes ran $25,552 and the median apartment rent $1,134.

http://www.city-data.com/city/Virginia-Beach-Virginia.html

City Data.com states the per capita estimated income for 2008 in the Virginia Beach area was $31,332. The household estimated median income, which in 2000 was $48,705, has risen to $65,776 in 2008 versus $61,233 for the rest of the state of Virginia.

Figure 1: Map of Virginia (Virginia Beach, Virginia, 2010).

City Data.com breaks down the job market as consisting of various areas and the percentages for a male in 2008 are:

Construction (14%)

Professional, scientific, and technical services (10%)

Public administration (10%)

Educational services (5%)

Accommodation and food services (5%)

Administrative and support and waste management services (4%)

Health care (4%)

Other management occupations except farmers and farm managers (7%)

Other sales and related workers including supervisors (5%)

Electrical equipment mechanics and other installation, maintenance, and repair occupations including supervisors (4%)

Computer specialists (4%)

Building and grounds cleaning and maintenance occupations (4%)

Business operations specialists (3%)

City Data.com lists the following percentages for females in 2008:

Health care (15%)

Educational services (12%)

Accommodation and food services (8%)

Finance and insurance (8%)

Public administration (6%)

Professional, scientific, and technical services (6%)

Department and other general merchandise stores (5%)

Other sales and related workers including supervisors (6%)

Secretaries and administrative assistants (5%)

Preschool, kindergarten, elementary and middle school teachers (5%)

Other office and administrative support workers including supervisors (5%)

Retail sales workers except cashiers (5%)

Information and record clerks except customer service representatives (4%)

Other management occupations except farmers and farm managers (4%)

Atlanta, GA-

According to Sperling's Best Places, on an index ranking of 100 being the U.S. average, the Virginia Beach Metro area has a cost of living rating of 112.21. Sperling's states the city growth of Atlanta is 17% with a population of over 519,000 people.

The average home cost in Atlanta is $212,360 with home depreciation for the last year at negative 11.7%

http://www.bestplaces.net/city/atlanta-georgia.aspx

The website, www.georgia.org, is quoted "Georgia's affordable cost of living lets you maintain higher standards for the way you want to live, work and play. An outstanding quality of life also gives companies here -- including 13 on the Fortune 500 list -- a distinct advantage in attracting and keeping quality employees.

More than 100,000 people move to the state each year, making Georgia among the top 10 fastest-growing states in the U.S. They come for the state's excellent location, hospitable people, and warm climate, as well as superb health care, education and career opportunities.

http://www.georgia.org/WhyGeorgia/QualityOfLife/Pages/default.aspx

In comparison with other cities in the United States, Atlanta has an increase of 8% in job market while the rest have had an average decrease of 24% according to www.indeed.com and the website lists the following as an example:

Popular Atlanta Jobs & Salaries

Administrative Assistant in Atlanta

$39,000

Project Manager in Atlanta

$84,000

Executive Assistant in Atlanta

$45,000

Customer Service Representative in Atlanta

$33,000

Business Analyst in Atlanta

$79,000

Executive Administrative Assistant in Atlanta

$40,000

Receptionist in Atlanta

$32,000

Maintenance Technician in Atlanta

$46,000

Financial Analyst in Atlanta

$75,000

Security Officer in Atlanta

$67,000

http://www.indeed.com/local/Atlanta-GA-jobs

Cocoa Beach, FL

According to Sperling's Best Places, the cost of living for Cocoa Beach, FL is 119.85 on an index of 100.

http://www.bestplaces.net/city/Cocoa_Beach-Florida.aspx

The city has a population of approximately 12,000 people with a negative growth of

2.49%. The rate of unemployment for the area is at 10% and job growth is at a negative

3.7 growth for the last year with an unemployment that is 1.5% above the United States average percent for unemployment.

The average median house price $236,000 and has depreciated negative 25% in the last year.

Cocoa Beach schools spend per student approximately $4,856 and the United States average spent per student is approximately $6,058. Teachers have about 17 students to each teacher in the classroom.

The household average income is $47,283 and the per capita income for the area including all adults and children in the household is $33,009.

According to indeed.com, the Cocoa Beach area has increased 18% in the past year with the popular jobs and salaries as follows:

Popular Cocoa Beach Jobs & Salaries

Exercise Specialist in Cocoa Beach

$64,000

Graphic Designer in Cocoa Beach

$50,000

Guest Service Agent / Front Desk Clerk in Cocoa Beach

$22,000

CLERK-PAYROLL in Cocoa Beach

$38,000

Guest Service Agent / Night Auditor in Cocoa Beach

$22,000

Social Worker - Msw in Cocoa Beach

$62,000

Massage Therapist in Cocoa Beach

$58,000

Technical Writer 1 in Cocoa Beach

$54,000

Certified Nurse Assistant in Cocoa Beach

$38,000

Bed Control Lead in Cocoa Beach

$77,000

City Data.com breaks down the job market by the following percents for males:

Accommodation and food services (11%)

Construction (9%)

Transportation equipment (9%)

Professional, scientific, and technical services (8%)

Public administration (8%)

Real estate and rental and leasing (6%)

Health care (4%)

Other management occupations except farmers and farm managers (9%)

Other sales and related workers including supervisors (7%)

Engineers (6%)

Top executives (4%)

Sales representatives, services, wholesale and manufacturing (4%)

Computer specialists (4%)

Physicians and surgeons (3%)

The average job market percents for females from the same website is:

Accommodation and food services (14%)

Health care (11%)

Educational services (8%)

Real estate and rental and leasing (7%)

Administrative and support and waste management services (5%)

Public administration (5%)

Transportation equipment (4%)

Other office and administrative support workers including supervisors (10%)

Other management occupations except farmers and farm managers (8%)

Other sales and related workers including supervisors (7%)

Cashiers (4%)

Building and grounds cleaning and maintenance occupations (4%)

Health technologists and technicians (4%)

Waiters and waitresses (3%)

http://www.city-data.com/city/Cocoa-Beach-Florida.html

In conclusion, Virginia Beach has the lowest cost of living rate on the 100 scale according to Sperlings Best Places with 2.23% while Atlanta has a 12.21% and Cocoa Beach has 19.85%. Housing in the Atlanta area is lower than the other 2 areas by $20,000 to $40,000 depending on the type of dwelling and whether or not it is attached or a single dwelling.

The unemployment rate for each of these areas listed is approximately 10% and does not much have a significant difference in which city is chosen. The average household per capita income is higher in the Virginia Beach area running around $65,776 and Cocoa Beach is the lowest with $47,283.

CARNIVAL CRUISE LINE

In October 1993, Carnival Cruise Lines gave Port Canaveral its first mega cruise vessel by home-porting the Carnival Fantasy here. The 2,600-passenger ship sails on three- and four-night cruises to Freeport and Nassau in the Bahamas. Carnival also introduced a whole new spectrum of fun with the Carnival Glory. She is the most impressive and imaginative vessel in the "Fun Ship" fleet. Following her naming ceremony and maiden cruise at Port Canaveral in July 2003, she began 7-day sailings, alternating between the Eastern and Western Caribbean.

DISNEY CRUISE LINE

The magic and quality of Disney is yours to enjoy when you sail aboard the magnificent oceanliners of Disney to "Discover Unchartered Magic." Disney Magic set sail in 1998 with the Disney Wonder joining the fleet two years later, both with 3- and 4-day cruises to the Bahamas, Nassau, and Disney's private island, Castaway Cay. The Disney Magic converted to a seven-day Eastern Caribbean itinerary in August 2000. In May 2002, the Disney Magic added a Western Caribbean itinerary.

ROYAL CARIBBEAN INTERNATIONAL

In May 2000, Royal Caribbean International homeported the 2,600-passenger Sovereign of the Seas at Port Canaveral offering three- and four-night cruises to Nassau and Coco Cay, RCI's private island. RCI's Mariner of the Seas was christened at Port Canaveral in November 2003 and sails the Eastern and Western Caribbean roundtrip from Port Canaveral. And sailing from Baltimore, Maryland to Key West and the Bahamas, the RCI's Grandeur of the Seas visits Port Canaveral every Friday.

STERLING CASINO LINES

Experience the excitement of the world's largest casino ship at Port Canaveral! Enjoy 75,000 square feet of Las Vegas style casino action with 18-foot-high ceilings, eight escalators, and five decks, including more than 1000 of the loosest slots and 50 table games. Also enjoy complimentary deli-style buffet, live entertainment, free parking, and free cocktails for all gaming participants. Patrons must be 21 years of age with valid government-issued photo identification. Reservations are required.

SUN CRUZ CASINOS

Las Vegas-style gaming on four decks of cruise ship comfort, SunCruz Casinos' SUNCRUZ XII sails daily from the Cove at Port Canaveral. The 1,200-passenger vessel has 4 decks, over 500 slot machines and 35 table games, live entertainment on all cruises, and buffet and a la carte menus available.

http://www.cocoabeach.com/cruises.html

Airports in the Cocoa Beach area according to cocoabeach.com are:

MELBOURNE INTERNATIONAL AIRPORT

1 Terminal Pkwy., Melbourne. (321) [HIDDEN]

ORLANDO INTERNATIONAL AIRPORT

1 Airport Blvd., Orlando. (407) [HIDDEN]

ORLANDO-SANFORD INTERNATIONAL AIRPORT

1200 Red Cleveland Blvd., Sanford. (407) [HIDDEN]

http://www.cocoabeach.com/airports.html

In conclusion, only Atlanta, GA. has an in ability to get to a cruise line very easily while the other 2 have easy accessibility to get a cruise closely. All 3 areas have airports in close proximity for quick and easy access.

References Cited

Sperling's Best Place. Cost of living. Received March 14, 2010 from http://www.bestplaces.net/Metro/Virginia_Beach-Norfolk-Newport_News_VA-COSTLIV-34726000090.aspx" http://www.bestplaces.net/Metro/Virginia_Beach-Norfolk-Newport_News_VA-COSTLIV-34726000090.aspx

City data. Housing prices. Received on March 14, 2010 from http://www.city-data.com/city/Virginia-Beach-Virginia.html

Sperling's Best Places. Atlanta cost of living. Received on March 14, 2010 from http://www.bestplaces.net/city/atlanta-georgia.aspx

Why Georgia. Quality of Life. Received on March 14, 2010 from http://www.georgia.org/WhyGeorgia/QualityOfLife/Pages/default.aspx

Index.com. Job Market Received on March 14, 2010 from http://www.indeed.com/local/Atlanta-GA-jobs

Sterlings Best Place. Cost of living. Received on March 14, 2010 from http://www.bestplaces.net/city/Cocoa_Beach-Florida.aspx

Indeed.com. Job Market. Received from March 14, 2010 from http://www.indeed.com/local/Cocoa-Beach-FL-job

City Data. Average jobs. Received on March 14, 2010 from http://www.city-data.com/city/Cocoa-Beach-Florida.html

Hampton Roads Visitors. Cruises. Received on March 14, 2010 from http://www.hamptonroadsvisitor.com/virginia-cruises.html

Vacation Away. Airport information. Received on March 18, 2010 from http://vacation.away.com/virginia/travel-ap-virginia-beach-airports-cid324400.html

Cocoa Beach.com. Cruise information. Received on March 18, 2010 from http://www.cocoabeach.com/cruises.html

Cocoa Beach.com. Airport information. Received on March 14, 2010 from http://www.cocoabeach.com/airports.html