Montgomery, GA Cost Of Living

Montgomery cost of living index

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.
Index	Montgomery	Georgia	National
Cost of living index	97	93	100
Index	Montgomery	Georgia	National
Goods & Services index	98	96	100
Groceries index	94	99	100
Health care index	98	96	100
Housing index	92	86	100
Transportation index	97	96	100
Utilities index	109	97	100

An overview of the general cost of living index for Montgomery, GA is displayed above for your reference. Residents in Montgomery, GA enjoy a cost of living index of 97. This index is 3% higher than the Georgia average, and 3% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Montgomery, GA, the average cost of goods and services is 2% higher than it is in Georgia, and it is 2% lower than the national average.

Did you know?

The cost of living in Montgomery is 3% higher than the Georgia average.
The cost of living in Montgomery is 3% lower than the national average.
The cost of housing in Montgomery is 8% 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.

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Salary Calculator

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

The salary calculator is used in order to provide a comparison of your current salary in Montgomery, 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 Montgomery, GA, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Montgomery, 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

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$53,681	$4,473	$1,252	$1,611
Renters	$53,100	$4,425	$1,239	$1,593

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 Montgomery, 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. Montgomery, GA has a median income of about $53,681 for people who own homes. Based on that number, a person should spend a maximum of $1,252 on expenses related to housing. Renters have a slightly different median income, which is $53,100. Based on this average, renters should spend no more than $1,239 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Georgia Sales Tax

State	General Sales Tax	With Max Surtax
Georgia	4%	8%

Georgia Income Tax

State	Income Tax (Low)	Income Tax (High)
Georgia	1%	6%

The Georgia sales tax and Georgia income tax rates should definitely be considered when determining the overall cost of living in Montgomery, GA. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Georgia sales tax is 4% and the maximum surtax is 8%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Georgia income tax rates range from 1% to 6%.

Goods & Services

Item	Montgomery	National avg.	Difference
Haircut	$15.76	$16.09	2.0%
Beauty Salon	$33.04	$37.33	11.5%
Toothpaste	$2.14	$2.45	12.7%
Shampoo	$0.85	$1.00	15.4%
Movie	$10.32	$10.28	0.4%
Bowling	$5.42	$4.93	9.9%

Groceries

Item	Montgomery	National avg.	Difference
Ground Beef	$3.58	$3.80	5.8%
Fried Chicken	$1.33	$1.40	5.0%
Milk	$2.01	$2.01	0.1%
Potatoes	$3.12	$3.01	3.5%
Pizza	$8.42	$9.89	14.9%
Beer	$8.79	$8.90	1.2%

Health Care

Item	Montgomery	National avg.	Difference
Optometrist	$82.91	$102.16	18.8%
Doctor	$108.10	$108.36	0.2%
Dentist	$90.53	$92.53	2.2%
Ibuprofen	$7.83	$9.28	15.6%
Lipitor	$440.80	$425.82	3.5%

Housing

Item	Montgomery	National avg.	Difference
Home Price	$177,000.00	$184,700.00	4.2%
Avg. Mortgage Payment	$748.65	$1,202.44	37.7%
Apartment Rent	$795.00	$949.00	16.2%

Transportation

Item	Montgomery	National avg.	Difference
Gasoline	$2.08	$2.24	7.4%
Tire Balancing	$49.20	$46.29	6.3%

Utilities

Item	Montgomery	National avg.	Difference
All Electricity	$153.19	$165.96	7.7%
Phone	$37.43	$28.68	30.5%

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, State	Population	Cost of Living Index	National Avg.
Garden City, GA	8,889	88	-12%
Bloomingdale, GA	2,703	93	-7%
Savannah, GA	144,717	94	-6%
Thunderbolt, GA	2,606	97	-3%
Port Wentworth, GA	7,052	98	-2%
Montgomery, GA	4,222	97	-3%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Rockmart, GA	4,222	88	-12%
Goddard, KS	4,224	95	-5%
Chariton, IA	4,219	78	-22%
Calcium, NY	4,225	97	-3%
Falls City, NE	4,225	83	-17%
Montgomery, GA	4,222	97	-3%

Source: The Montgomery, GA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Montgomery, GA Cost of Living