Saks 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.
IndexSaksAlabamaNational
Cost of living index8389100
IndexSaksAlabamaNational
Goods & Services index9498100
Groceries index9498100
Health care index8085100
Housing index5873100
Transportation index8992100
Utilities index9699100
Displayed above is a general overview of the Saks, AL cost of living index. The overall cost of living index in Saks, AL is 83, which is 8% lower than the Alabama average and 17% 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 Saks, AL are 4% lower than the Alabama average and 6% lower than the national average.

Did you know?

  • The cost of living in Saks is 8% lower than the Alabama average.
  • The cost of living in Saks is 17% lower than the national average.
  • The cost of housing in Saks is 42% 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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Groceries index
Health care index
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The salary calculator allows you to compare how much your current salary in Saks, AL would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Saks, AL, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Saks, AL salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$46,109$3,842$1,076$1,383
Renters$25,084$2,090$585$753
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 Saks, 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. Saks, AL has a median income of about $46,109 for people who own homes. Based on that number, a person should spend a maximum of $1,076 on expenses related to housing. Renters have a slightly different median income, which is $25,084. Based on this average, renters should spend no more than $585 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 Saks, 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

ItemSaksNational avg.Difference
Haircut $14.00$14.594.1%
Beauty Salon $29.20$34.6815.8%
Toothpaste $2.02$2.4718.3%
Shampoo $1.05$1.022.7%
Movie $9.25$9.876.3%
Bowling $7.00$4.3959.4%

Groceries

ItemSaksNational avg.Difference
Ground Beef $3.99$4.4810.9%
Fried Chicken $1.24$1.4615.3%
Milk $2.05$2.3613.0%
Potatoes $2.79$3.068.9%
Pizza $8.00$9.2413.4%
Beer $7.83$8.639.3%

Health Care

ItemSaksNational avg.Difference
Optometrist $86.00$99.7813.8%
Doctor $79.00$105.0324.8%
Dentist $74.40$88.7016.1%
Ibuprofen $9.36$9.410.6%
Lipitor $215.26$298.5027.9%

Housing

ItemSaksNational avg.Difference
Home Price $94,300.00$175,700.0046.3%
Avg. Mortgage Payment $821.09$1,081.0324.0%
Apartment Rent $634.00$920.0031.1%

Transportation

ItemSaksNational avg.Difference
Gasoline $1.89$2.099.4%
Tire Balancing $38.91$45.2914.1%

Utilities

ItemSaksNational avg.Difference
All Electricity$173.64$170.801.7%
Phone $25.01$28.2611.5%
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.
West End-Cobb Town, AL3,82177-23%
Hobson City, AL81278-22%
Piedmont, AL4,81179-21%
Munford, AL1,40182-18%
Weaver, AL3,07282-18%
Saks, AL10,44583-17%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bolivar, MO10,44387-13%
Vashon, WA10,44713737%
East Whittier, CA10,44013636%
Lawrenceburg, TN10,44084-16%
Lindon, UT10,43411818%
Saks, AL10,44583-17%
Source: The Saks, AL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.