Byron cost of living index

A general overview of the cost of living index for Byron, GA is displayed above. In Byron, GA, the overall cost of living index is 89, which is 4% lower than the Georgia average and 11% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Byron, GA, the city's goods and services are 13% lower than the Georgia average and 17% lower than the U.S. average.

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Salary Calculator

Using the salary calculator lets you compare the salary you earn in Byron, 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 Byron, GA, you have to earn a higher income in order to still have the same standard of living. To operate the Byron, 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

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 Byron, GA, 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. Byron, GA has a median income of about $75,400 for people who own homes. Based on that number, a person should spend a maximum of $1,759 on expenses related to housing. Renters have a slightly different median income, which is $26,544. Based on this average, renters should spend no more than $619 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Georgia Sales Tax

Georgia Income Tax

The Georgia sales tax and Georgia income tax rates should definitely be considered when determining the overall cost of living in Byron, 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

Groceries

Health Care

Housing

Transportation

Utilities

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.

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Source: The Byron, GA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.