Oakwood 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.
IndexOakwoodGeorgiaNational
Cost of living index9294100
IndexOakwoodGeorgiaNational
Goods & Services index10296100
Groceries index107100100
Health care index10394100
Housing index6787100
Transportation index10996100
Utilities index9197100
An overview of the general cost of living index for Oakwood, GA is displayed above for your reference. Residents in Oakwood, GA enjoy a cost of living index of 92. This index is 2% lower than the Georgia average, and 8% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Oakwood, GA, the average cost of goods and services is 6% higher than it is in Georgia, and it is 2% higher than the national average.

Did you know?

  • The cost of living in Oakwood is 2% lower than the Georgia average.
  • The cost of living in Oakwood is 8% lower than the national average.
  • The cost of housing in Oakwood is 33% lower than the national average.
  • Georgia general sales tax is 21% lower than the national average.
  • Georgia state income tax is 55% lower than the national average.

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Compare Oakwood, GA Cost of living To Other Cities

Salary Calculator

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Health care index
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Use the salary calculator to compare your current salary in Oakwood, GA to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Oakwood, GA, then you would need to earn more income in order to maintain the same standard of living. To use the Oakwood, GA salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$54,926$4,577$1,282$1,648
Renters$33,750$2,813$787$1,013
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Oakwood, GA, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Oakwood, GA homeowners have a median income of $54,926. Using that number, you will come up with a maximum of $1,282 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $33,750, which means there is a maximum of $787 to be spent on the costs of renting a home or apartment.

Georgia Sales Tax

StateGeneral Sales TaxWith Max Surtax
Georgia4%8%

Georgia Income Tax

StateIncome Tax (Low)Income Tax (High)
Georgia1%6%
The Georgia sales tax and Georgia income tax rates should definitely be considered when determining the overall cost of living in Oakwood, GA. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Georgia sales tax is 4% and the maximum surtax is 8%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Georgia income tax rates range from 1% to 6%.

Goods & Services

ItemOakwoodNational avg.Difference
Haircut $17.70$14.5921.3%
Beauty Salon $43.70$34.6826.0%
Toothpaste $2.57$2.473.9%
Shampoo $0.75$1.0226.6%
Movie $12.24$9.8724.0%
Bowling $5.21$4.3918.6%

Groceries

ItemOakwoodNational avg.Difference
Ground Beef $4.74$4.485.9%
Fried Chicken $1.54$1.465.2%
Milk $2.42$2.362.7%
Potatoes $3.74$3.0622.2%
Pizza $8.09$9.2412.5%
Beer $8.97$8.633.9%

Health Care

ItemOakwoodNational avg.Difference
Optometrist $88.57$99.7811.2%
Doctor $96.50$105.038.1%
Dentist $105.50$88.7018.9%
Ibuprofen $6.29$9.4133.2%
Lipitor $324.65$298.508.8%

Housing

ItemOakwoodNational avg.Difference
Home Price $97,600.00$175,700.0044.5%
Avg. Mortgage Payment $1,027.50$1,081.035.0%
Apartment Rent $848.00$920.007.8%

Transportation

ItemOakwoodNational avg.Difference
Gasoline $2.25$2.097.8%
Tire Balancing $51.19$45.2913.0%

Utilities

ItemOakwoodNational avg.Difference
All Electricity$146.37$170.8014.3%
Phone $27.94$28.261.1%
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.
Rest Haven, GA5484-16%
Gillsville, GA26785-15%
Auburn, GA7,38893-7%
Lula, GA2,77189-11%
Gainesville, GA34,93898-2%
Oakwood, GA4,08992-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Baden, PA4,08989-11%
Weston, WV4,08888-12%
Vilonia, AR4,09195-5%
Sullivan City, TX4,08767-33%
Hyde Park, UT4,0851077%
Oakwood, GA4,08992-8%
Source: The Oakwood, GA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.