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

One of the most prominent aspects of the Cost of Living in Georgia is the housing market. With the state experiencing a boom in population growth in recent years, housing prices have been steadily increasing, making it difficult for many residents to find affordable housing options. And while there are pockets of the state where housing costs remain relatively low, many find themselves facing daunting prices in more urban areas like Atlanta or Savannah.

In addition to housing, the cost of groceries and utilities have also been steadily on the rise in Georgia. Families are finding themselves spending more and more of their monthly budgets on basic necessities like food and electricity, making it harder to make ends meet and save for the future. With wages not increasing at the same rate as these expenses, many residents are feeling the squeeze on their finances.

Healthcare is another area where the Cost of Living in Georgia can pose significant challenges for residents. As the cost of medical services and insurance premiums continue to climb, many find themselves having to make difficult decisions about their health and well-being. For those without insurance or access to affordable healthcare options, the burden of medical expenses can be overwhelming and can have a significant impact on their overall quality of life.

While the Cost of Living in Georgia may be a useful measure for economists and policymakers to determine the overall affordability of the state, it often does not capture the day-to-day struggles that many residents face when trying to make ends meet. For those living on a fixed income or working low-wage jobs, the rising costs of living in Georgia can create real hardships and can force individuals and families to make difficult choices about how to spend their limited resources.

Ultimately, the usefulness of the Cost of Living in Georgia is in its ability to highlight the disparities and challenges that many residents face when it comes to affording the basic necessities of life. By acknowledging these struggles and working towards solutions that address the root causes of these issues, policymakers and community leaders can help to create a more equitable and affordable environment for all residents of the Peach State. Only by coming together and finding creative solutions to these challenges can we truly make living in Georgia a more sustainable and fulfilling experience for all who call it 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