Margaret 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.
IndexMargaretAlabamaNational
Cost of living index9289100
IndexMargaretAlabamaNational
Goods & Services index9998100
Groceries index10298100
Health care index8185100
Housing index8473100
Transportation index8992100
Utilities index9399100
The above illustration supplies generalized information for the Margaret, AL cost of living index. Compared to other cities in Alabama and cities across the country, the cost of living index in Margaret, AL is 92, which is 3% higher than the Alabama average and 8% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Margaret, AL are 1% higher than the average for Alabama and 1% lower than the rest of the country.

Did you know?

  • The cost of living in Margaret is 3% higher than the Alabama average.
  • The cost of living in Margaret is 8% lower than the national average.
  • The cost of housing in Margaret is 16% 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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Salary Calculator

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Use the salary calculator to compare your current income in Margaret, 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 Margaret, AL, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Margaret, 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$64,125$5,344$1,496$1,924
Renters$41,071$3,423$958$1,232
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 Margaret, 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. Margaret, AL has a median income of about $64,125 for people who own homes. Based on that number, a person should spend a maximum of $1,496 on expenses related to housing. Renters have a slightly different median income, which is $41,071. Based on this average, renters should spend no more than $958 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%
When assessing the complete cost of living in Margaret, 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

ItemMargaretNational avg.Difference
Haircut $14.50$14.590.6%
Beauty Salon $29.50$34.6814.9%
Toothpaste $2.49$2.470.7%
Shampoo $0.92$1.0210.0%
Movie $10.06$9.871.9%
Bowling $4.65$4.395.9%

Groceries

ItemMargaretNational avg.Difference
Ground Beef $4.47$4.480.2%
Fried Chicken $1.34$1.468.5%
Milk $2.29$2.362.8%
Potatoes $4.38$3.0643.1%
Pizza $10.00$9.248.2%
Beer $7.93$8.638.1%

Health Care

ItemMargaretNational avg.Difference
Optometrist $109.33$99.789.6%
Doctor $86.00$105.0318.1%
Dentist $65.67$88.7026.0%
Ibuprofen $7.69$9.4118.3%
Lipitor $247.00$298.5017.3%

Housing

ItemMargaretNational avg.Difference
Home Price $135,400.00$175,700.0022.9%
Avg. Mortgage Payment $846.13$1,081.0321.7%
Apartment Rent $917.00$920.000.3%

Transportation

ItemMargaretNational avg.Difference
Gasoline $1.90$2.098.9%
Tire Balancing $37.90$45.2916.3%

Utilities

ItemMargaretNational avg.Difference
All Electricity$166.92$170.802.3%
Phone $24.33$28.2613.9%
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.
County Line, AL27680-20%
Vandiver, AL1,09080-20%
Ashville, AL2,22582-18%
Center Point, AL16,87688-12%
Dunnavant, AL83189-11%
Margaret, AL4,47592-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Wanamassa, NJ4,47715050%
Adamsville, AL4,47285-15%
Portola Valley, CA4,478222122%
Saukville, WI4,4791011%
Beaver, PA4,47995-5%
Margaret, AL4,47592-8%
Source: The Margaret, AL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.