Georgia Cost Of Living Statistics

Georgia Cost Of Living Statistics 2023: Facts about Cost Of Living in Georgia reflect the current socio-economic condition of the state.

LLCBuddy editorial team did hours of research, collected all important statistics on Georgia Cost Of Living, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to start a Georgia LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.

How much of an impact will Georgia Cost Of Living Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Georgia Cost Of Living Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 12 Georgia Cost Of Living Statistics on this page 🙂

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Georgia Cost Of Living “Latest” Statistics

• The U.S. Energy Information Administration (EIA) reported in 2017 that Georgia’s average monthly energy cost is $126.38.^[1]
• Georgia enjoys the fifth lowest cost of living in the United States according to MERIC data gathered in the third quarter of 2021.^[2]
• In Atlanta, Georgia, gas prices and bus tickets are 0% less than the national average for both types of transportation costs.^[3]
• The average cost of a professional football game featuring the Atlanta Falcons in 2018 is $104.08, according to Statista.com.^[1]
• Data from the Bureau of Economic Analysis for 2020 show that the average total cost of personal consumption in Georgia is $38,165 per year, broken down as follows.^[2]

Georgia Cost Of Living “Be” Statistics

• The median rent for a two-bedroom apartment in Atlanta is $1,861 which is on average, higher than the state average.^[1]
• According to NeighborhoodScout statistics, houses’ values climbed by 7% yearly between 2013 and 2018.^[1]

Georgia Cost Of Living “Living” Statistics

• A single individual living well in Georgia would require a salary of almost $60,000, according to one estimate.^[4]

Georgia Cost Of Living “Other” Statistics

• In Georgia, consumers spend nearly 7,000 dollars on food on average each year, according to the most recent BLS statistics.^[5]
• According to the personal consumption expenditures by state report from the 2020 Bureau of Economic Analysis, Georgia’s average annual per capita expenditure of health care is $5,910.^[2]
• Georgia’s transportation expenses are about 5% more expensive than those in the rest of the United States.^[4]
• Georgia’s highest marginal tax rate is 5.75% according to the Tax Foundation’s State Individual Income Tax Rates and Brackets for 2021.^[2]

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How Useful is Georgia Cost of Living

For many, the appeal of a lower cost of living in Georgia is undeniable. Housing prices are generally more affordable, whether one is looking to rent or buy. Utilities, groceries, and healthcare costs also tend to be lower than in other parts of the country. This can be especially beneficial for those on a fixed income, young professionals just starting out, or families looking to stretch their budgets further.

Additionally, the overall tax burden in Georgia is relatively low compared to many other states. With no tax on social security income and a moderate income tax rate, residents can often keep more of their hard-earned money in their pockets. This can be a major selling point for retirees looking to make their nest egg last longer or for individuals looking to improve their financial well-being.

However, it’s important to consider the full picture when evaluating the usefulness of Georgia’s cost of living. While low housing costs may be enticing, other elements like transportation, education, and healthcare quality should also be taken into account. Georgia’s public transportation system is limited in many areas, which can lead to longer commutes and potentially higher car maintenance costs. Higher education institutions in Georgia may not have the same reputation or resources as those in other states, which could impact job prospects and career opportunities.

When it comes to healthcare, while costs may be lower in Georgia, access to quality care can vary depending on where you live in the state. Rural areas may have fewer healthcare facilities or specialized providers, which could lead to longer wait times or travel for necessary medical procedures. This lack of accessibility can be a significant concern for individuals with chronic health conditions or in need of specialized care.

Furthermore, the lower cost of living in Georgia may also come with trade-offs in terms of climate, cultural amenities, and overall quality of life. Summers in Georgia can be hot and humid, which may not appeal to everyone. Additionally, cultural offerings such as museums, theaters, or outdoor recreational activities may be more limited in some areas compared to other states.

In conclusion, while the low cost of living in Georgia can be a major advantage for many individuals and families, it’s important to weigh all the factors that contribute to a high quality of life. Factors like transportation, education, healthcare, and overall climate should be carefully considered when evaluating the usefulness of Georgia’s cost of living. Ultimately, finding the right balance of affordability and quality of life is key when deciding where to call home.

Reference

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1. smartasset – https://smartasset.com/mortgage/the-true-cost-of-living-in-georgia
2. sofi – https://www.sofi.com/cost-of-living-in-georgia/
3. payscale – https://www.payscale.com/cost-of-living-calculator/Georgia-Atlanta
4. upnest – https://www.upnest.com/1/post/cost-of-living-georgia/
5. nerdwallet – https://www.nerdwallet.com/cost-of-living-calculator/compare/atlanta-ga-vs-san-francisco-ca