In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Here we can see a simple outline of the cost of living in Hannahs Mill, GA. As you can see, with the average cost of living in Hannahs Mill, GA being 84, that puts it 10% lower than the average of Georgia and 16% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Hannahs Mill, GA, the price of goods and services are 1% lower than the average of Georgia as well as 5% lower than the nation's average.
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Did you know?
The cost of living in Hannahs Mill is 10% lower than the Georgia average.
The cost of living in Hannahs Mill is 16% lower than the national average.
The cost of housing in Hannahs Mill is 45% lower than the national average.
Georgia general sales tax is 21% lower than the national average.
Georgia state income tax is 55% lower than the national average.
Compare Hannahs Mill, GA Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator is used in order to provide a comparison of your current salary in Hannahs Mill, GA to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Hannahs Mill, GA, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Hannahs Mill, GA salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
The affordability of the housing market in Hannahs Mill, GA as well as the overall cost of living can be indicated accurately 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 ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Hannahs Mill, GA homeowners, the median income is $37,480. This indicates that a monthly maximum of $874 should be spent by homeowners on all housing related costs. Renters have a median income of $26,676. This indicates that renters should have a maximum of $622 used for their rent related monthly costs.
Georgia Sales Tax
General Sales Tax
With Max Surtax
Georgia Income Tax
Income Tax (Low)
Income Tax (High)
When assessing the complete cost of living in Hannahs Mill, GA, the Georgia income tax and the Georgia sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Georgia maximum surtax is 8%, and the Georgia sales tax is 4%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 1% to 6% in Georgia.
Goods & Services
Avg. Mortgage Payment
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.