Decatur cost of living index

Displayed above is a general overview of the Decatur, AL cost of living index. The overall cost of living index in Decatur, AL is 86, which is 3% lower than the Alabama average and 14% 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 Decatur, AL are 1% lower than the Alabama average and 5% lower than the national average.

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Salary Calculator

The salary calculator is meant to help you compare your salary in Decatur, AL to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Decatur, AL, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Decatur, AL salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

If you want to find a good determining factor for the cost of living and the general affordability of housing in Decatur, AL, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Decatur, AL, the median monthly income is $58,909 for those who own their own homes. Under the standard rule, that income level would allow for $1,374 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $25,987, per the median income in the area. That would allow for renters to spend up to $606 on monthly rental expenses.

Alabama Sales Tax

Alabama Income Tax

The Alabama sales tax and Alabama income tax rates should definitely be considered when determining the overall cost of living in Decatur, AL. 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 Alabama sales tax is 4% and the maximum surtax is 13.5%. 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 Alabama income tax rates range from 2% to 5%.

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 Decatur, AL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.