Fairhope cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexFairhopeAlabamaNational
Cost of living index10789100
IndexFairhopeAlabamaNational
Goods & Services index9698100
Groceries index10398100
Health care index8885100
Housing index12673100
Transportation index9692100
Utilities index10799100
Here we can see a simple outline of the cost of living in Fairhope, AL. As you can see, with the average cost of living in Fairhope, AL being 107, that puts it 19% higher than the average of Alabama and 7% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Fairhope, AL, the price of goods and services are 2% lower than the average of Alabama as well as 5% lower than the nation's average.

Did you know?

  • The cost of living in Fairhope is 19% higher than the Alabama average.
  • The cost of living in Fairhope is 7% higher than the national average.
  • The cost of housing in Fairhope is 26% higher than the national average.
  • Alabama general sales tax is 21% lower than the national average.
  • Alabama state income tax is 10% lower than the national average.

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Compare Fairhope, AL Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Fairhope, AL to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Fairhope, AL, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Fairhope, AL salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$70,652$5,888$1,648$2,120
Renters$41,101$3,425$959$1,233
The affordability of the housing market in Fairhope, AL as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Fairhope, AL homeowners, the median income is $70,652. This indicates that a monthly maximum of $1,648 should be spent by homeowners on all housing related costs. Renters have a median income of $41,101. This indicates that renters should have a maximum of $959 used for their rent related monthly costs.

Alabama Sales Tax

StateGeneral Sales TaxWith Max Surtax
Alabama4%10%

Alabama Income Tax

StateIncome Tax (Low)Income Tax (High)
Alabama2%5%
When assessing the complete cost of living in Fairhope, AL, the Alabama income tax and the Alabama sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Alabama maximum surtax is 10%, and the Alabama sales tax is 4%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 2% to 5% in Alabama.

Goods & Services

ItemFairhopeNational avg.Difference
Haircut $13.38$14.598.3%
Beauty Salon $33.88$34.682.3%
Toothpaste $3.04$2.4722.9%
Shampoo $1.04$1.021.8%
Movie $9.75$9.871.2%
Bowling $4.02$4.398.5%

Groceries

ItemFairhopeNational avg.Difference
Ground Beef $3.83$4.4814.4%
Fried Chicken $1.47$1.460.4%
Milk $2.61$2.3610.7%
Potatoes $3.72$3.0621.5%
Pizza $8.00$9.2413.4%
Beer $8.82$8.632.2%

Health Care

ItemFairhopeNational avg.Difference
Optometrist $94.50$99.785.3%
Doctor $78.60$105.0325.2%
Dentist $79.40$88.7010.5%
Ibuprofen $9.84$9.414.5%
Lipitor $273.56$298.508.4%

Housing

ItemFairhopeNational avg.Difference
Home Price $232,500.00$175,700.0032.3%
Avg. Mortgage Payment $832.83$1,081.0323.0%
Apartment Rent $1,034.00$920.0012.4%

Transportation

ItemFairhopeNational avg.Difference
Gasoline $1.92$2.098.2%
Tire Balancing $47.96$45.295.9%

Utilities

ItemFairhopeNational avg.Difference
All Electricity$188.02$170.8010.1%
Phone $29.01$28.262.7%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Belle Fontaine, AL55786-14%
Mobile, AL194,94291-9%
Summerdale, AL1,07692-8%
Loxley, AL2,17092-8%
Robertsdale, AL5,55692-8%
Fairhope, AL16,6611077%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Centralia, WA16,66497-3%
Opelousas, LA16,66881-19%
Highland Springs, VA16,67396-4%
Suwanee, GA16,64811111%
Defiance, OH16,64689-11%
Fairhope, AL16,6611077%
Source: The Fairhope, AL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.