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 |
What salary do you need to live in Alabama?
Alabama comes in on the low end of the scale. You’ll need $39,920 a year, or $3,326 a month, to afford the median rent in Alabama ($998) and adhere to the 30 percent threshold guide. That’s the 48th lowest salary needed in the U.S., behind only Arkansas ($38,120), Oklahoma ($38,000) and West Virginia ($35,520.)
How much does it cost to live comfortably in Alabama?
The Bureau of Economic Analysis cites that the average cost of living in Alabama is around $35,859 per year for a typical single individual.
Average Cost of Living in Alabama: $35,859 per year.
| Category | Average Annual Per-Capita Cost in Alabama |
|---|---|
| Housing and Utilities | $6,535 |
| Health Care | $5,904 |
Is Alabama expensive to live in?
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 Alabama Monthly?
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 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 average single income in Alabama?
Table
| Population | |
|---|---|
| Mean travel time to work (minutes), workers age 16 years+, 2016-2020 | 25.2 |
| Income & Poverty | |
| Median household income (in 2020 dollars), 2016-2020 | $52,035 |
| Per capita income in past 12 months (in 2020 dollars), 2016-2020 | $28,934 |
What is the cheapest city in Alabama to live in?
The 10 Most Affordable Cities in Alabama
- Gadsden.
- Talladega.
- Bessemer.
- Birmingham.
- Fairfield.
- Anniston.
- Sylacauga.
- Selma.
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.
Is it cheaper to live in Al or Fl?
Alabama is 3.1% more expensive than Florida.
What is the poorest town in Alabama?
Oak Hill
With a median household income of $9,286 (compared to $44,758 for the state), Oak Hill is the poorest community in Alabama.
What is the average cost of a home in Alabama?
According to estimates from Zillow, a Seattle-based real estate data company, the value of a typical single-family home in Alabama is $175,586, lower than the national average.
Where should you not live in Alabama?
Here Are The 10 Most Dangerous Towns In Alabama To Live In
- Bessemer (Population: Approx. 27,000)
- Fairfield (Population: Approx. 11,000)
- Anniston (Population: Approx. 23,000)
- Lanett (Population: Approx.
- Selma (Population: Approx.
- Guntersville (Population: Approx.
- Gadsden (Population: Approx.
- Arab (Population: Approx.
What is low income Alabama?
Alabama is the sixth poorest state in the U.S., and 16.9% of Alabamians live below the federal poverty threshold – a noticeably larger percentage than the national average of 13.4%. The federal poverty threshold ranges from $12,488 for one person to $25,094 for a family of four.
What is the richest part of Alabama?
Mountain Brook is being credited as the richest town in the state of Alabama. Stacker.com compiled a list of the richest towns in all 50 U.S. states, which lists Mountain Brook as having a median household income of $152,355 (112.8% more than the U.S. median income).
What salary is considered rich in Alabama?
Alabama ranked eighth on the list for places where you can be considered “rich” if your household income is less than $100,000 a year. Alabama’s wealth threshold is $88,984.
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.
Where is the safest place to live in Alabama?
The Top 10 Safest Cities in Alabama
- Rainbow City.
- Mountain Brook.
- Vestavia Hills.
- Daleville.
- Southside.
- Pleasant Grove.
- Pelham.
- Glencoe.
What city has the cheapest rent in Alabama?
Average rent change in the past year: 1.29%
And the cheapest place to live in Alabama is Fairfield, only seven miles from Birmingham. At $583 per month on average for a one-bedroom, living in Fairfield is a steal.
What is the cheapest but nicest place to live?
Here are the top 10 most affordable cities to live in the U.S., according to the Council for Community and Economic Research’s Cost of Living report.
- Cedar Park, Texas.
- Midland, Texas.
- Ogden, Utah.
- Raleigh, North Carolina.
- Provo, Utah.
- Des Moines, Iowa.
- Austin, Texas.
- Minneapolis, Minnesota.
What is the best state to live in financially?
The five best states for your personal finances in 2022 are (No. 1 being best): Tennessee.
- New Jersey.
- Hawaii.
- Connecticut.
- Alaska.
- Illinois.