Palmetto 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.
IndexPalmettoGeorgiaNational
Cost of living index9294100
IndexPalmettoGeorgiaNational
Goods & Services index10296100
Groceries index107100100
Health care index10394100
Housing index6887100
Transportation index10996100
Utilities index9197100
A general summary of the cost of living index in Palmetto, GA is shown above. Compared to the state average of Georgia the cost of living index in Palmetto, GA is 92, which is 2% lower than the average in Georgia and compared to the national average it is 8% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Palmetto, GA goods and services come in at 6% higher than the average in Georgia and are 2% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Palmetto is 2% lower than the Georgia average.
  • The cost of living in Palmetto is 8% lower than the national average.
  • The cost of housing in Palmetto is 32% 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 Palmetto, GA Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Groceries index
Health care index
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Transportation index
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Using the salary calculator lets you compare the salary you earn in Palmetto, GA 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 Palmetto, GA, you have to earn a higher income in order to still have the same standard of living. To operate the Palmetto, GA 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$51,773$4,314$1,208$1,553
Renters$30,688$2,557$716$921
One can approximate the cost of living and the housing affordability in Palmetto, GA by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Palmetto, GA have a median income of $51,773. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,208 per month to avoid calamity and poverty. The renters in the city have an income of about $30,688, which would make their monthly maximum allowable rental costs $716.

Georgia Sales Tax

StateGeneral Sales TaxWith Max Surtax
Georgia4%8%

Georgia Income Tax

StateIncome Tax (Low)Income Tax (High)
Georgia1%6%
For those who live in Palmetto, GA and want to know what the true cost of living is, they ought to look at both the Georgia income tax rate and the Georgia sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Georgia, the sales tax is 4%, while the most you'll pay in surtax is 8%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Georgia, the income tax rate ranges between 1% to 6%.

Goods & Services

ItemPalmettoNational 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

ItemPalmettoNational 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

ItemPalmettoNational 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

ItemPalmettoNational avg.Difference
Home Price $103,400.00$175,700.0041.1%
Avg. Mortgage Payment $1,027.50$1,081.035.0%
Apartment Rent $830.00$920.009.8%

Transportation

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

Utilities

ItemPalmettoNational 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.
Whitesburg, GA59289-11%
Union City, GA20,20091-9%
East Point, GA35,07092-8%
East Newnan, GA1,77193-7%
Fairburn, GA13,52095-5%
Palmetto, GA4,89392-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Thatcher, AZ4,89495-5%
Denair, CA4,8921055%
Glasgow Village, MO4,89586-14%
West Salem, WI4,8951011%
Welcome, NC4,89190-10%
Palmetto, GA4,89392-8%
Source: The Palmetto, GA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.