Families, filmmakers, and young entrepreneurs have all been drawn to the vibrant and verdant metropolis of Atlanta because it has temperate winters, interesting nightlife, world-class restaurants, a great economy, and centuries of fascinating history. Moving to Atlanta is worth it because the city has some of the top businesses, the highest rates of employment development, and the most desired areas for families.
Although Atlanta has a lower cost of living than cities like New York, San Francisco, and Boston, there are still some expenditures to consider. Let’s learn more about the cost of living in Atlanta and what to anticipate when relocating there.
Atlanta Housing Costs
The housing market in Atlanta is as diverse as a city can be, especially when you take into account everything the city has to offer. Apartments, condominiums, townhomes, and single-family homes are available for rent and purchase practically everywhere, providing you with a wide range of choices depending on the area of Atlanta you choose to live in. Apartments in Atlanta’s most desirable areas, including Buckhead, which are renowned for their facilities, safety, and high-quality schools, will cost more than those in less attractive neighborhoods.
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However, Atlanta housing expenses are 13% more than the national average, whether you’re renting or purchasing. This is an increase of 5.2% over the previous year. The above-average cost of living in Atlanta, GA is mostly caused by the city’s housing costs. Atlanta’s median home price at the moment is $396,000. That median, however, considers a wide variety of options, including rundown homes and multimillion-dollar mansions in Buckhead. The average rent for a one-bedroom apartment in Atlanta is $2,023, which is an increase of 10% over the previous year while the average monthly rent for a two-bedroom apartment is $2,568 and this is an increase of 8% over the previous year.
Due to the cheaper housing costs and less crowded population, many recent immigrants and even Atlanta locals now opt to buy houses in suburban and rural locations. Many of the magnificent Atlanta suburbs are treasure troves for excellent prices on lovely houses, so have a look at them all! These suburbs are excellent for getting the most out of your money in terms of enjoying additional facilities like top-notch school systems, neighborhood parks, and convenient retail areas.
Atlanta Healthcare Costs
When relocating to a new place, healthcare is a major expense to take into account. Navigating the healthcare system is never simple, whether it’s for a normal check-up or a more serious health emergency. It’s challenging to estimate total healthcare costs in Atlanta because everyone’s health circumstances vary, but you may include a typical price in your cost of living calculation. A single, working adult in Atlanta may anticipate spending $2,619 on medical and healthcare expenses each year.
The overall cost of healthcare is 6.4 percent more than the national average. Regular medical visits averagely cost about $116.50, whereas the average cost of a prescription medicine is $479.70 (without any insurance). Ibuprofen can be available at your neighborhood pharmacy for approximately $9.30.
The good news is that Atlanta boasts an abundance of hospitals and clinics. Healthcare employment in Atlanta is often plentiful. Not to add, finding a doctor who can suit your medical needs/demands is simple.
Atlanta Food Costs
Atlanta is praised for having a booming culinary industry. In Atlanta, you may be sure to find something to suit your tastes. If you enjoy dining out, you may select from upscale cafes, fast food joints, food trucks, and even gourmet doughnut shops or cuisine from throughout the world because all of these foods are reasonably priced and your cost of living should be able to include it.
Depending on your lifestyle, the typical cost of food might change. If you’re single without kids, you’ll spend $3,480 on food overall. A household of two adults and one child should budget at least $10,235 a year for food.
Utilities comprise the cost of power, gas, water, garbage, and internet. The weather in Atlanta is generally mild. There is plenty of time to relax outside, thanks to a long fall and generally warm winters. However, the springtime causes inhabitants to flee inside just in time to avoid the summer’s hot and muggy weather. Your air conditioning unit will work hard during those muggy summer months, increasing your electricity costs which indicate normal seasonal variations in apartment utilities.
Fortunately, Atlanta utilities are 13.4% below the national average and down 2.6 percent from a year ago. Your average monthly energy bill will be approximately $188.73, which is $143 less than in San Francisco (amazing!). The cost of the internet will be an extra $67.79 (60 Mbps or More, Unlimited Data, Cable/ADSL).
Atlanta Transportation Costs
Atlanta’s traffic is not for the fainthearted. Even though public transportation and walkability have improved, Atlanta is still predominantly a car city. Atlanta is the tenth most crowded city in the nation and ranks as the world’s 47th most crowded city.
The amount of driving you intend to do will determine how much you spend on transportation in Atlanta. If you’re single and childless, the living wage calculator from MIT estimates that your annual transportation costs will be $5,586. The price jumps to $15,223 if there are two adults and one child living with you.
Although there is public transit in the city called MARTA, its reach is not very wide. MARTA’s subway and bus systems are not as extensive as those in places like Boston, San Francisco, or even New York City. It can only transport you from the airport to important locations inside the city and there is no free switching between the rail and bus systems.
Overall, Atlanta has a transportation cost of living that is around 6.1 percent higher than the US average.
The cost of living in Atlanta can also be influenced by taxes. Taxes are one external factor that could deduct more from your income than you anticipate. Georgia’s income tax rate ranges from 1% to 5.75%, but local governments are allowed to raise it. As a result, Atlanta’s sales tax is 8.5%, a substantially higher percentage. So for every $1,000 you spend on purchases at Lennox Square, Phipps Plaza, Atlantic Station, or Ponce City Market, you will pay $85 in taxes.
However, Atlanta is particularly tax-friendly for retirees, as long as the resident is at least 65. Georgia does not tax Social Security retirement benefits and grants.
Salary And Other Expenses to Consider in Atlanta
It’s useful to know the breakdown of living expenses in Atlanta and understand how much money you need to earn to comfortably live in Atlanta. Your pay should be at least, around $4,800 per month.
On the most fundamental level, the cost of living in Atlanta, GA is $2,035 for an average person, not taking into consideration extra expenses and entertainment. But whatever your pay level is, aim for a comfortable middle ground that enables freedom while keeping rent cheap.
Overall, Atlanta costs a little bit more than the national average, but salaries are also on the rise. The labor market in Atlanta is expanding daily and is becoming more diverse because the city is concentrating on big firms, media conglomerates, and tech startups.
Considering relocating to Atlanta is a wonderful idea because of all it has to offer. When you have decided on your favorite area and the perfect apartment you want, you may carefully plan your relocation with this moving company Atlanta that will meet your requirements, whether you’re relocating across town or to a different state.
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