An Overview of Cost of Living in Hartselle, AL
Understanding the cost of living in Hartselle 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 Hartselle cost of living index is 89, which is 11% 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.
What Do Locals Say About the Cost of Living in Hartselle?
The most insightful perspective on a city comes from its residents. We recently surveyed 5 locals to gauge their perception of the cost of living in Hartselle. The feedback revealed that 80% of respondents found the cost of living to be reasonable, with prices on the decline, while 20% regarded it as notably expensive with prices that continue to rise.
Is Hartselle Affordable?
Is Hartselle affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Hartselle, for instance, where the median home price falls 19.3% lower than the national average, and monthly rent rates are 26% lower than usual. Additionally, median income levels contribute to the equation, with Hartselle flaunting a median household income of $56,323, 1.8% higher than the national norm.
What Factors can Influence the Cost of Living in Hartselle?
Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Hartselle, the groceries index is 4.1% lower than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Hartselle, the transportation index is 12% lower than the national average.
Where is the Data From?
The Hartselle cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.
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