Is It Cheap to Live in Atlanta? A Cost Breakdown
Understand Atlanta's cost of living. This guide explores affordability, income viability, and how your lifestyle impacts expenses in the city.
Understanding Atlanta’s cost of living is essential for individuals and families contemplating a move or evaluating their financial standing within the city. This analysis explores the city’s economic landscape, detailing typical expenditures residents encounter.
Atlanta’s Cost of Living Overview
Atlanta’s cost of living is slightly higher than the national average, yet it remains more accessible than many other major U.S. metropolitan areas. The city’s Cost of Living Index (COLI) ranges from 95.7 to 115.4, with 100 representing the national average. This indicates expenses can be 4% lower to 13.3% higher than the U.S. average. Housing costs often trend lower, contributing to affordability. However, healthcare and transportation may exceed national averages.
Breakdown of Major Living Expenses
Housing represents a substantial portion of living expenses in Atlanta. The average rent for a one-bedroom apartment ranges from $1,627 to $1,750 per month. A two-bedroom apartment costs between $1,932 and $2,463 per month. For homeownership, the median home price in Atlanta is $360,000 to $415,000. Property taxes average around 1% of the home’s assessed value, which can be lower than in many other major cities.
Transportation
Transportation costs are notable, particularly given Atlanta’s reliance on personal vehicles. Gas prices average $3.43 per gallon. A single MARTA ride costs $2.50, and a 30-day pass is $95. These transit options offer alternatives to car ownership.
Utilities
Utility expenses in Atlanta generally hover around the national average. Basic utilities for an 85-square-meter apartment, including electricity, heating, cooling, water, and garbage, average $150 to $205 per month. Internet service adds an estimated $60 to $100 monthly. Seasonal fluctuations, particularly increased air conditioning use, can impact utility bills.
Food
A typical household in Atlanta spends $300 to $500 per month on groceries. The average weekly grocery bill is around $277.54. Dining out costs vary, with a casual meal priced from $15 to $20, and a three-course meal for two at a mid-range restaurant costing $50 to $65.
Healthcare
Healthcare costs in Atlanta are generally higher than the national average, sometimes by 8.2%. Health insurance premiums for an individual in Georgia range from $400 to $600 per month. Miscellaneous expenses, such as entertainment or personal care, contribute to the overall budget, with a movie ticket averaging $12 to $15.
Income Levels and Financial Viability
Understanding the income landscape is essential for financial viability in Atlanta. The average annual household income is $135,218, while the median household income is $81,938. For an individual, the median income for full-time workers is $58,155 for males and $38,684 for females. These income levels support varying lifestyles.
To live comfortably, a single person needs a minimum annual income of $61,600, while a family needs at least $69,840. Industries such as technology, film, and logistics contribute significantly to the city’s job market, influencing these income statistics.
Geographic and Lifestyle Impact on Costs
The cost of living in Atlanta varies significantly based on geographic location and individual lifestyle choices. Housing costs demonstrate differences between intown neighborhoods and suburban areas. Upscale areas may feature median home prices exceeding one million dollars, while budget-friendly options exist elsewhere. This geographic variation means residents can manage their housing budget by selecting locations aligning with their financial capacity.
Personal spending habits further influence an individual’s total cost of living. Choices like public transportation versus car ownership lead to substantial differences in monthly expenses. Frequent dining out or opting for luxury services increases expenditures compared to a frugal approach prioritizing home-cooked meals and low-cost activities. These personal decisions allow flexibility in how affordable living in Atlanta becomes for each resident.