Monthly rent for a one-bedroom in the state is $600, while the typical rent for a unit with five or more bedrooms is $1,130. Across the state, 31.4% of occupied homes are rented, less than the 36.2% national average and the 15th lowest renter rate of any state.
How much money do you need to live in Alabama?
Typical Expenses
| 1 ADULT | ||
|---|---|---|
| 0 Children | 1 Child | |
| Required annual income after taxes | $26,822 | $50,257 |
| Annual taxes | $6,271 | $11,750 |
| Required annual income before taxes | $33,094 | $62,007 |
Is Alabama an expensive place to live?
Alabama has one of the lowest housing costs in the country. Most people generally take for granted that Alabama has one of the lowest costs of living in the country.
How much does it cost to live in an apartment in Alabama?
The typical renter in Alabama spends $772 a month on housing, $251 less than the $1,023 national median monthly rent. The monthly rent for a one-bedroom rental in the state is $600, while the typical rent for a unit with five bedrooms is $1,130.
Is living in Alabama affordable?
Alabama is one of the most affordable states in the country, and home to several beautiful and safe cities. Enjoy southern hospitality, tasty restaurants, and college football without breaking your wallet. NewHomeSource has found the top 10 most affordable cities in Alabama to help you make the best financial decision.
What is a comfortable salary in Alabama?
While ZipRecruiter is seeing salaries as high as $72,631 and as low as $20,935, the majority of salaries within the Comfortable jobs category currently range between $24,779 (25th percentile) to $38,878 (75th percentile) with top earners (90th percentile) making $55,540 annually in Alabama.
Which state has lowest cost of living?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
Where is the cheapest state to live?
Mississippi
Mississippi is the cheapest state to live in in the United States. Overall, costs in the state are 17% lower than the national average. Housing costs in Mississippi are the lowest in the nation.
What is the cheapest and safest state to live in?
Here are the 10 most affordable states in the U.S.:
- Indiana. Average cost of living index: 90.57.
- Michigan. Average cost of living index: 90.40.
- Missouri. Average cost of living index: 89.75.
- Tennessee. Average cost of living index: 89.49.
- Georgia. Average cost of living index: 89.30.
- Arkansas.
- Alabama.
- Oklahoma.
Why is it so cheap to live in Alabama?
Sales Tax. Another money-saving bonus to living in Alabama is the low sales tax of just 4%. This makes Alabama one of the more tax-friendly states in the nation. State income tax is also pretty low at 2.5%.
Is it cheaper to live in Al or Fl?
Alabama is 3.1% more expensive than Florida.
How much are utilities per month in Alabama?
The website move.org released their study that looked at the average costs of electricity, natural gas, water, internet and cable in each state. The ranking is based on which residents spend the most on the utilities per month. The study found Alabama residents average $448.73 per month in utilities alone.
What are the negatives of living in Alabama?
List of the Cons of Living in Alabama
- Watch out for the cockroaches.
- Some places are still closed on Sunday in Alabama.
- Alabama might have beer, but it isn’t easy to get a drink sometimes.
- Some of the kind phrases are really insults.
- The weather can take a severe turn for the worse.
What city in Alabama has the lowest cost of living?
The 10 Most Affordable Places To Live In Alabama In 2020
- Russellville.
- Roanoke.
- Attalla. wikipedia/Chris Pruitt.
- Hamilton. facebook/Hamilton Area Chamber of Commerce.
- Hartselle. wikimedia commons/Chris Pruitt.
- Clay. wikimedia commons/John Phelan.
- Pinson. wikimedia commons/Kylestonephotgraphy.
- Glencoe.
How much is housing in Alabama?
Alabama Housing Costs
The typical renter in Alabama spends $772 a month on housing, $251 less than the $1,023 national median monthly rent. Monthly rent for a one-bedroom in the state is $600, while the typical rent for a unit with five or more bedrooms is $1,130.
What is a good hourly wage in Alabama?
Hourly Salary in Alabama
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $53,404 | $26 |
| 75th Percentile | $37,596 | $18 |
| Average | $38,035 | $18 |
| 25th Percentile | $23,498 | $11 |
What are the best paying jobs in Alabama?
Highest-paying jobs in Alabama
- No. 1 – Orthopedic surgeons, except pediatric.
- No. 2 – Cardiologists.
- No. 3 Radiologists.
- No 4 – Obstetricians and gynecologists.
- No. 5 – Family medicine physicians.
- No. 1 – Family medicine physicians.
- No. 2 Chief executives.
- No. 3 – Dentists, general.
What is middle class in Alabama?
Here are the income levels that qualify Alabamians as middle class: 2-person family middle class income range: $37,172.94 to $110,964. 3-person family middle-class income range: $42,604.63 to $127,178. 4-person family middle-class income range: $52,438.89 to $156,534.
What is the best state to live in financially?
Alaska is the top state for fiscal stability. It’s followed by South Dakota, Tennessee, Idaho and Utah to round out the top five. Half of the 10 states with the best fiscal stability also rank among the top 10 Best States overall.
Which state has the cheapest food?
The most notable exception is New Hampshire, which, despite being an East Coast state, actually has the lowest food costs in the nation.
What state is most expensive to live in?
Hawaii
Hawaii. Hawaii is the most expensive state to live in the United States. With a cost of living index of 193.3, the cost of living in Hawaii is nearly twice the national average. Hawaii has the highest costs across all indexes, except healthcare.