Georgia is one of the popular states that Americans have been moving to for the past few years. Its low cost of living, strong job market, and abundance of welcoming communities are just some of the reasons people consider moving to the Peach State. To find out whether you can afford to live in Georgia, take a closer look at expenditures for items such as housing, taxes, food, and bills in Georgia.
Housing Costs
How expensive is an apartment in Georgia?
If you’re planning on renting a house, you can expect higher rent prices than the national average rates. In Atlanta, for example, a one-bedroom apartment costs about $1,450, a 2% increase compared to the previous year. That said, you can find affordable accommodation in the state if you look hard enough.
How do I find cheap apartments in Georgia?
Here are a few tips to help you find a cheap apartment in Georgia:
- Avoid popular moving seasons: While unit availability increases during popular moving times for renters, the increased demand usually drives rent prices up as well. To avoid this hike, make sure you understand how seasonality influences the rental market.
- Look beyond the city: Expand your search and look outside major cities in Georgia, especially nearby suburbs. If you can work remotely or don’t work in the city, you can live slightly further out. Not only are the prices lower on the outskirts, but you can often get a large apartment with a backyard or garden.
- Look at many apartments: Look at multiple apartments and compare them. Assess the potential and the pluses of each apartment you view.
- Make several offers: Rather than get attached to one apartment and risk being frustrated if you don’t get it, make offers on many apartments that you like.
What is the cheapest rent in Georgia?
The price range of a cheap apartment in Georgia is between $450 and $8,224.
Utility Costs
Atlanta has one of the highest average monthly utility bills in the U.S. For a single-family home, the monthly water costs average $70.39, natural gas $99.33, electricity $126.38, basic cable TV service $85, and internet around $60 a month. These basic expenses total $441.10 each month, which is more than the national average of $384.24.
Food Costs
Prices of food in Georgia vary from one city to another. In Atlanta, for example, a single adult will need to spend around $312.65 on food per month. In Macon, that amount shrinks to about $288.46. Either way, each of these estimates comes in below the $342 U.S. average.
If you love to dine out, expect to spend around $14 for an average meal. Breakfast prices are typically a little cheaper than dinner or lunch. The price of food in sit-down restaurants in Georgia is often higher than street food prices or fast food prices.
Transportation Costs
Georgia doesn’t have a metro rail system, but you have a lot of other ways to get around with public transportation. An extensive train and bus service provides public transportation to the area. Of the five cities in Georgia with train service, the average price of train tickets is $137.00 on the top routes. The most expensive ticket available costs $298.00, while the cheapest ticket is $14.00 at this time.
If you have a vehicle, you may spend about $2.74 for a gallon of unleaded regular gas, which is slightly lower than the national average of $2.86. You may also have to pay for car insurance. The average amount drivers are paying per year is $1,982 for full coverage and $756 for minimum coverage. This is higher than the national average, which is currently about $565 per year for minimum and $1,674 per year for full.
Healthcare Costs
The average cost of healthcare in Georgia is about $1,242 per person (2018 figure), which is lower than the national average. If you plan to purchase health insurance, you can expect to pay about $585 for a major medical individual health insurance plan. Prices, however, will vary depending on several factors, including your household income, the size of your family, and your chosen policy. Also, premiums can be lower if you’re in good health. The cheapest healthcare insurance in Georgia starts at about $197 per person for major medical plans.
Taxes
Georgia has a progressive tax system, where the tax rate increases as the taxable base salary increases. The tax rate in Georgia is between 1% and 6%. If you’re a single tax filer who makes over $7,000 per year, you’ll need to pay that 6% rate.
When it comes to property taxes, they are on the low side in Georgia. The average annual real estate tax payment in the state is $1,771 per year. However, property tax rates vary depending on the county where you live, ranging from 0.45% to 1.66%.
Education Costs
If you’re planning to complete higher education in Georgia, you may have to spend about $4,732 for in-state and $17,060 for out-of-state (including miscellaneous and tuition fees). These rates are lower than the national average of $6,540 for in-state students and $17,871 for out-of-state students.
What is the cost of living in Georgia? As you can see, you will find a competitive median cost to live in Georgia compared to other popular states in the US. Hopefully, this guide has given you an idea of what you can expect your cost of living to be if you move to the Peach State.
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