Milton cost of living index

The above illustration supplies generalized information for the Milton, GA cost of living index. Compared to other cities in Georgia and cities across the country, the cost of living index in Milton, GA is 138, which is 47% higher than the Georgia average and 38% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Milton, GA are 8% higher than the average for Georgia and 3% higher than the rest of the country.

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Salary Calculator

Using the salary calculator lets you compare the salary you earn in Milton, GA to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Milton, GA, you have to earn a higher income in order to still have the same standard of living. To operate the Milton, GA salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

The affordability of the housing market in Milton, 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 Milton, GA homeowners, the median income is $155,368. This indicates that a monthly maximum of $3,625 should be spent by homeowners on all housing related costs. Renters have a median income of $65,699. This indicates that renters should have a maximum of $1,533 used for their rent related monthly costs.

Georgia Sales Tax

Georgia Income Tax

When you are determining the total cost of living in Milton, GA you will want to make sure you consider both the Georgia sales tax and the Georgia income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Georgia is 4%, with the highest surtax being 8%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Georgia have a range from 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 Milton, GA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.