Lanett 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.
IndexLanettAlabamaNational
Cost of living index8589100
IndexLanettAlabamaNational
Goods & Services index11098100
Groceries index10198100
Health care index8785100
Housing index4873100
Transportation index9292100
Utilities index8699100
Displayed above is a general overview of the Lanett, AL cost of living index. The overall cost of living index in Lanett, AL is 85, which is 5% lower than the Alabama average and 15% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Lanett, AL are 12% higher than the Alabama average and 10% higher than the national average.

Did you know?

  • The cost of living in Lanett is 5% lower than the Alabama average.
  • The cost of living in Lanett is 15% lower than the national average.
  • The cost of housing in Lanett is 52% lower 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 Lanett, AL Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Cost of living index
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Groceries index
Health care index
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Using the salary calculator lets you compare the salary you earn in Lanett, AL to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Lanett, AL, you have to earn a higher income in order to still have the same standard of living. To operate the Lanett, AL salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$33,000$2,750$770$990
Renters$20,259$1,688$473$608
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Lanett, AL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Lanett, AL has a median income of about $33,000 for people who own homes. Based on that number, a person should spend a maximum of $770 on expenses related to housing. Renters have a slightly different median income, which is $20,259. Based on this average, renters should spend no more than $473 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Alabama Sales Tax

StateGeneral Sales TaxWith Max Surtax
Alabama4%10%

Alabama Income Tax

StateIncome Tax (Low)Income Tax (High)
Alabama2%5%
One thing to keep in mind when considering the cost of living in Lanett, AL is the Alabama sales tax and Alabama income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Alabama sales tax rate is 4% and the maximum surtax that can be charged is 10%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Alabama income tax rates range from 2% to 5%.

Goods & Services

ItemLanettNational avg.Difference
Haircut $14.67$14.590.5%
Beauty Salon $42.00$34.6821.1%
Toothpaste $2.81$2.4713.6%
Shampoo $1.62$1.0258.5%
Movie $12.50$9.8726.7%
Bowling $4.79$4.399.1%

Groceries

ItemLanettNational avg.Difference
Ground Beef $5.81$4.4829.8%
Fried Chicken $1.26$1.4613.9%
Milk $2.17$2.367.9%
Potatoes $3.48$3.0613.7%
Pizza $9.00$9.242.6%
Beer $8.89$8.633.0%

Health Care

ItemLanettNational avg.Difference
Optometrist $74.67$99.7825.2%
Doctor $81.67$105.0322.2%
Dentist $70.00$88.7021.1%
Ibuprofen $8.45$9.4110.2%
Lipitor $327.99$298.509.9%

Housing

ItemLanettNational avg.Difference
Home Price $76,500.00$175,700.0056.5%
Avg. Mortgage Payment $797.54$1,081.0326.2%
Apartment Rent $542.00$920.0041.1%

Transportation

ItemLanettNational avg.Difference
Gasoline $1.98$2.095.2%
Tire Balancing $38.67$45.2914.6%

Utilities

ItemLanettNational avg.Difference
All Electricity$161.13$170.805.7%
Phone $21.01$28.2625.6%
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.
Five Points, AL14683-17%
Cusseta, AL13383-17%
La Fayette, AL2,99385-15%
Huguley, AL2,44986-14%
Valley, AL9,45688-12%
Lanett, AL6,45585-15%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Rittman, OH6,45787-13%
Valley Center, KS6,44992-8%
De Soto, MO6,44987-13%
Gladewater, TX6,46190-10%
Franklin city, PA6,44875-25%
Lanett, AL6,45585-15%
Source: The Lanett, AL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.