Bay Minette, Alabama Cost Of Living

Buy Rent

B

Overall 8%

Goods & Services 7%

Housing 36%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Bay Minette	Alabama	National
Cost of living	92	89	100
Goods & Services	107	98	100
Groceries	101	96	100
Health care	109	91	100
Housing	64	72	100
Transportation	94	91	100
Utilities	102	103	100

Key findings

The cost of living in Bay Minette is 2% higher than the Alabama average
The cost of living in Bay Minette is 8% lower than the national average
Bay Minette housing is 36% lower than the national average
Alabama general sales tax is 21% lower than the national average
Alabama state income tax is 19% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$49,663	$4,139	$1,159	$1,490
Renters	$21,609	$1,801	$504	$648

The affordability of the housing market in Bay Minette, AL as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Bay Minette homeowners, the median income is $49,663. This indicates that a monthly maximum of $1,159 should be spent by homeowners on all housing related costs. Renters have a median income of $21,609. This indicates that renters would have a maximum of $504 for their rent related monthly costs.

Alabama Sales Tax

State	General Sales Tax	With Max Surtax
Alabama	4%	13.5%

Alabama Income Tax

State	Income Tax (Low)	Income Tax (High)
Alabama	2%	5%

Goods & Services

Item	Bay Minette	National avg.	Difference
Haircut	$15.00	$17.49	14.2%
Beauty Salon	$37.75	$38.17	1.1%
Toothpaste	$1.71	$2.32	26.3%
Shampoo	$0.83	$1.01	18.0%
Movie	$12.51	$10.72	16.7%
Bowling	$18.00	$13.86	29.9%

Groceries

Item	Bay Minette	National avg.	Difference
Ground Beef	$4.58	$3.90	17.4%
Fried Chicken	$1.28	$1.40	8.3%
Milk	$2.40	$1.96	22.3%
Potatoes	$4.20	$3.18	32.0%
Pizza	$9.79	$10.39	5.8%
Beer	$9.47	$9.23	2.6%

Health Care

Item	Bay Minette	National avg.	Difference
Optometrist	$134.60	$106.34	26.6%
Doctor	$117.00	$115.25	1.5%
Dentist	$113.50	$98.38	15.4%
Ibuprofen	$9.98	$9.26	7.8%
Lipitor	$493.71	$466.47	5.8%

Housing

Item	Bay Minette	National avg.	Difference
Home Price	$119,400.00	$184,700.00	35.4%
Avg. Mortgage Payment	$890.75	$1,273.32	30.0%
Apartment Rent	$584.00	$949.00	38.5%

Transportation

Item	Bay Minette	National avg.	Difference
Gasoline	$2.41	$2.59	7.2%
Tire Balancing	$47.74	$48.90	2.4%

Utilities

Item	Bay Minette	National avg.	Difference
All Electricity	$174.87	$167.60	4.3%
Phone	$178.98	$163.42	9.5%

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, State	Population	Cost of Living Index	National Avg.
Bucks, AL	51	104	4%
Mount Vernon, AL	1,329	88	-12%
Axis, AL	992	91	-9%
Movico, AL	111	91	-9%
Mobile, AL	193,717	93	-7%
Bay Minette, AL	9,019	92	-8%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Covington, TN	9,016	78	-22%
Exeter, NH	9,022	112	12%
Pine Lake Park, NJ	9,016	117	17%
Blacklick Estates, OH	9,022	87	-13%
Mapleton, UT	9,014	119	19%
Bay Minette, AL	9,019	92	-8%

Source: The Bay Minette, AL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.