Cost Of Living in Fayette, AL

Get crime, demographics and other data for any location in Fayette, AL

A+

15%

Overall NAT. AVG.

2%

Goods & Services NAT. AVG.

45%

Housing NAT. AVG.

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	Fayette	Alabama	National
Cost of living	85	88	100
Goods & Services	98	96	100
Groceries	97	96	100
Health care	94	87	100
Housing	55	72	100
Transportation	91	91	100
Utilities	108	102	100

See How Much House You Can Afford. Get Pre-Approved Today

Cost Of Living Quick Facts

The cost of living in Fayette is 4% lower than the Alabama average
The cost of living in Fayette is 15% lower than the national average
Fayette housing is 45% 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 Fayette

See all the best places to live around Fayette

Compare Fayette, AL Cost of Living

Write a review to give others more information about this area.

See all Fayette poll results

The best places in Alabama

Here are the best places to live in Alabama

Check out the 10 safest cities in Alabama

Check out the 10 most dangerous cities in Alabama

These are the largest cities in Alabama

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	$57,440	$4,787	$1,340	$1,723
Renters	$22,591	$1,883	$527	$678

The affordability of the housing market in Fayette, 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 Fayette homeowners, the median income is $57,440. This indicates that a monthly maximum of $1,340 should be spent by homeowners on all housing related costs. Renters have a median income of $22,591. This indicates that renters would have a maximum of $527 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	Fayette	National avg.	Difference
Haircut	$20.07	$24.26	17.3%
Beauty Salon	$45.74	$45.56	0.4%
Toothpaste	$3.76	$3.70	1.6%
Shampoo	$1.33	$1.28	4.1%
Movie	$12.54	$12.13	3.3%
Bowling	$16.37	$18.00	9.1%

Groceries

Item	Fayette	National avg.	Difference
Ground Beef	$6.01	$5.84	3.0%
Fried Chicken	$1.66	$1.57	5.5%
Milk	$4.54	$4.67	2.9%
Potatoes	$5.23	$4.93	6.0%
Pizza	$10.99	$12.09	9.1%
Beer	$10.40	$10.41	0.1%

Health Care

Item	Fayette	National avg.	Difference
Optometrist	$92.33	$125.68	26.5%
Doctor	$101.83	$135.78	25.0%
Dentist	$125.78	$113.29	11.0%
Ibuprofen	$10.28	$10.65	3.5%
Lipitor	$460.79	$468.60	1.7%

Housing

Item	Fayette	National avg.	Difference
Home Price	$102,100.00	$184,700.00	44.7%
Avg. Mortgage Payment	$1,935.73	$2,346.69	17.5%
Apartment Rent	$525.00	$949.00	44.7%

Transportation

Item	Fayette	National avg.	Difference
Gasoline	$3.13	$3.46	9.7%
Tire Balancing	$54.52	$59.92	9.0%

Utilities

Item	Fayette	National avg.	Difference
All Electricity	$219.40	$193.99	13.1%
Phone	$188.55	$192.25	1.9%

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.
Kennedy, AL	406	73	26.7%
Berry, AL	1,080	81	18.6%
Belk, AL	344	76	23.9%
Millport, AL	1,209	78	22.0%
Glen Allen, AL	363	88	12.4%
Fayette, AL	4,329	85	15.0%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Roseburg North, OR	4,328	100	0.2%
Selmer, TN	4,330	80	20.4%
Suquamish, WA	4,327	127	27.5%
Del Mar, CA	4,331	332	232.1%
Cumberland, BC	4,331	n/a
Fayette, AL	4,329	85	15.0%