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]

Also Read

How Useful is Georgia Cost of Living

One of the most noticeable aspects of the cost of living in Georgia is housing. Whether renting or buying a home, the cost of housing can make a significant dent in one’s budget. Hence, it is essential to weigh the options carefully and evaluate affordability based on income levels, household size, and desired lifestyle. While some areas in Georgia may have more expensive housing costs, others are relatively affordable, offering a range of choices to suit different preferences and needs.

Transportation is another significant component of the cost of living in Georgia. With the state’s expansive road networks and public transportation systems, residents have various options for getting around. However, the costs associated with commuting, owning a car, or using public transportation can add up over time. It is essential for individuals to consider transportation expenses when evaluating their overall financial situation and planning for the future.

Healthcare costs are also a crucial consideration when assessing the cost of living in Georgia. With the rising costs of medical services and insurance premiums, access to quality healthcare can become a major expense for individuals and families. It is crucial to have the necessary coverage and resources for healthcare needs while balancing other financial obligations to ensure overall well-being and quality of life.

When it comes to groceries and other daily necessities, the cost of living in Georgia can vary depending on location and lifestyle choices. While some areas may have higher prices for groceries and essentials, others may offer more affordable options that can help individuals save money and stretch their budgets further. Being mindful of spending habits and shopping wisely can make a significant difference in managing expenses and maintaining financial stability.

While the cost of living in Georgia presents challenges for residents, it also offers opportunities for individuals to make informed decisions and prioritize their financial goals. By considering factors such as housing, transportation, healthcare, and daily expenses, residents can better navigate the complexities of living in the state and make choices that align with their needs and values. With careful planning and budgeting, individuals can create a sustainable lifestyle that balances their income and expenses effectively, allowing them to enjoy a comfortable quality of life in Georgia.

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