A+
13%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
38%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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 Fairfield Alabama National
Cost of living8788100
Goods & Services9896100
Groceries9796100
Health care9487100
Housing6272100
Transportation9191100
Utilities108102100

An Overview of Cost of Living in Fairfield, AL

Understanding the cost of living in Fairfield can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Fairfield cost of living index is 87, which is 13% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Is Fairfield Affordable?

Wondering if Fairfield is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Fairfield, for example, the median home price is 48.3% lower than what folks pay nationally, and monthly rent is 15.1% lower than the usual rates. Plus, income levels matter too, with Fairfield boasting a median household income of $41,439, which is 25.1% lower than the national average.

What Factors can Influence the Cost of Living in Fairfield?

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Fairfield, the utilities index registers at 7.5% higher than the national average.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Fairfield, healthcare costs are 6.3% lower than the national average.

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Fairfield starts at 4% and the income tax rates start at 2%.

Where is the Data From?

The cost of living data in Fairfield displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Fairfield is 2% lower than the Alabama average
  • The cost of living in Fairfield is 13% lower than the national average
  • Fairfield housing is 38% lower than the national average
  • Alabama general sales tax is 22% lower than the national average
  • Alabama state income tax is 23% lower than the national average

Most Affordable Places to Live in and Around Fairfield

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Compare Fairfield, AL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$53,221$4,435$1,242$1,597
      Renters$26,609$2,217$621$798
      A good indicator of the general affordability of housing in Fairfield, AL, 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 Fairfield, the median monthly income is $53,221 for those who own their own homes. Under the standard rule, that income level would allow for $1,242 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $26,609, per the median income in the area. That would allow for renters to spend up to $621 on monthly rental expenses.

      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 Fairfield National avg. Difference
      Haircut $20.07$24.2617.3%
      Beauty Salon $45.74$45.560.4%
      Toothpaste $3.76$3.701.6%
      Shampoo $1.33$1.284.1%
      Movie $12.54$12.133.3%
      Bowling $16.37$18.009.1%

      Groceries

      Item Fairfield National avg. Difference
      Ground Beef $6.01$5.843.0%
      Fried Chicken $1.66$1.575.5%
      Milk $4.54$4.672.9%
      Potatoes $5.23$4.936.0%
      Pizza $10.99$12.099.1%
      Beer $10.40$10.410.1%

      Health Care

      Item Fairfield National avg. Difference
      Optometrist $92.33$125.6826.5%
      Doctor $101.83$135.7825.0%
      Dentist $125.78$113.2911.0%
      Ibuprofen $10.28$10.653.5%
      Lipitor $460.79$468.601.7%

      Housing

      Item Fairfield National avg. Difference
      Home Price $95,400.00$184,700.0048.3%
      Avg. Mortgage Payment $1,935.73$2,346.6917.5%
      Apartment Rent $806.00$949.0015.1%

      Transportation

      Item Fairfield National avg. Difference
      Gasoline $3.13$3.469.7%
      Tire Balancing $54.52$59.929.0%

      Utilities

      Item Fairfield National avg. Difference
      All Electricity $219.40$193.9913.1%
      Phone $188.55$192.251.9%
      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 Population Cost of Living Index National Avg.
      Cardiff, AL467723.5%
      Mount Olive CDP (Coosa County), AL2757920.7%
      Edgewater, AL8328218.1%
      Brighton, AL2,8738317.4%
      North Johns, AL1528317.4%
      Fairfield, AL10,7498713.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Batesville, AR10,7498614.5%
      Ironton, OH10,7498415.9%
      Waipio, HI10,74517070.0%
      Fair Oaks Ranch, TX10,75315050.1%
      Northbrook, OH10,744918.9%
      Fairfield, AL10,7498713.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.