Griffin cost of living index

A general overview of the cost of living index for Griffin, GA is displayed above. In Griffin, GA, the overall cost of living index is 89, which is 5% 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 Griffin, GA, the city's goods and services are 7% higher than the Georgia average and 2% higher than the U.S. average.

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Salary Calculator

Use the salary calculator to compare your current salary in Griffin, GA to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Griffin, GA, then you would need to earn more income in order to maintain the same standard of living. To use the Griffin, GA salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

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 Griffin, 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. Griffin, GA has a median income of about $56,250 for people who own homes. Based on that number, a person should spend a maximum of $1,312 on expenses related to housing. Renters have a slightly different median income, which is $22,180. Based on this average, renters should spend no more than $517 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Georgia Sales Tax

Georgia Income Tax

For those who live in Griffin, GA and want to know what the true cost of living is, they ought to look at both the Georgia income tax rate and the Georgia sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Georgia, the sales tax is 4%, while the most you'll pay in surtax is 8%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Georgia, the income tax rate ranges between 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 Griffin, GA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.