Statistics About The Average Cost Of Living In Alabama

In this post, we will explore the average cost of living in Alabama based on a range of statistics. From housing expenses and transportation costs to healthcare and childcare, we will break down the essential figures to provide you with a comprehensive overview of the financial aspects of residing in Alabama. Understanding these key metrics can help you make informed decisions about your budget and lifestyle in the state.

Statistic 1

"The average monthly rent for a one-bedroom apartment in Alabama is $675."

Statistic 2

"The average cost of gasoline in Alabama is $2.30 per gallon."

Statistic 3

"The average annual salary in Alabama is $48,110."

Statistic 4

"The average grocery bill in Alabama is 6% lower than the U.S. average."

Statistic 5

"Alabama ranks 6th in the U.S. for affordable utilities cost."

Statistic 6

"The average insurance premium for renters in Alabama is $172 annually."

Statistic 7

"Childcare costs in Alabama are around $6,200 annually for one child."

Statistic 8

"Residents of Alabama pay an average of $1,643 annually for health insurance."

Statistic 9

"The average cost of living in Alabama is 11% lower than the national average."

Statistic 10

"The state sales tax rate in Alabama is 4%."

Statistic 11

"Alabama’s vehicle ownership costs average $8,700 annually."

Statistic 12

"The median home price in Alabama is $170,184."

Statistic 13

"Utilities in Alabama cost about 10% less than the U.S. average."

Statistic 14

"Transportation costs in Alabama are about 7% lower than the national average."

Statistic 15

"Alabama ranks 40th in the United States in terms of cost of living."

Statistic 16

"Housing costs in Alabama are approximately 25% lower than the national average."

Statistic 17

"The cost of dining out in Alabama is roughly 5% cheaper compared to the national average."

Statistic 18

"Healthcare costs in Alabama are approximately 3% lower than the U.S. average."

Statistic 19

"Alabama has the second-lowest property taxes in the U.S., with an average rate of 0.42%."

Statistic 20

"The overall cost of living index for Alabama is 89.3."

In conclusion, the statistics indicate that the average cost of living in Alabama is notably lower than the national average across various categories, such as housing, utilities, transportation, dining out, and healthcare. Residents benefit from affordable housing options, ranking 6th in utilities cost, and 2nd lowest property taxes in the U.S. Furthermore, with the average annual salary and insurance premiums also being relatively reasonable, Alabama presents a financially advantageous environment for its residents. This favorable cost of living index of 89.3, along with lower-than-average childcare and health insurance costs, positions Alabama as a cost-effective state to reside in.