Oakwood, Georgia Cost Of Living

A+

9%

Overall NAT. AVG.

4%

Goods & Services NAT. AVG.

29%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2023; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Oakwood	Georgia	National
Cost of living	91	91	100
Goods & Services	104	95	100
Groceries	93	95	100
Health care	107	94	100
Housing	71	86	100
Transportation	103	90	100
Utilities	86	91	100

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Cost Of Living Quick Facts

The cost of living in Oakwood is equal to the Georgia average
The cost of living in Oakwood is 9% lower than the national average
Oakwood housing is 29% lower than the national average
Georgia general sales tax is 22% lower than the national average
Georgia state income tax is 56% lower than the national average

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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

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$55,455	$4,621	$1,294	$1,664
Renters	$39,514	$3,293	$922	$1,186

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Oakwood, GA, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Oakwood, homeowners have a median income of $55,455. Using that number, a maximum of $1,294 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $39,514, which means there is a maximum of $922 to be spent on the costs of renting a home or apartment.

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%	5.75%

Goods & Services

Item	Oakwood	National avg.	Difference
Haircut	$24.88	$22.08	12.7%
Beauty Salon	$51.09	$42.88	19.2%
Toothpaste	$2.46	$2.57	4.2%
Shampoo	$1.03	$1.15	10.7%
Movie	$14.40	$11.51	25.2%
Bowling	$19.37	$16.62	16.6%

Groceries

Item	Oakwood	National avg.	Difference
Ground Beef	$4.57	$4.98	8.3%
Fried Chicken	$1.21	$1.58	23.6%
Milk	$1.94	$2.42	19.7%
Potatoes	$4.07	$3.54	15.0%
Pizza	$11.13	$11.49	3.1%
Beer	$10.74	$10.04	6.9%

Health Care

Item	Oakwood	National avg.	Difference
Optometrist	$128.60	$117.76	9.2%
Doctor	$115.86	$125.34	7.6%
Dentist	$132.58	$107.52	23.3%
Ibuprofen	$9.60	$10.26	6.4%
Lipitor	$488.57	$459.24	6.4%

Housing

Item	Oakwood	National avg.	Difference
Home Price	$143,900.00	$184,700.00	22.1%
Avg. Mortgage Payment	$1,847.96	$1,697.41	8.9%
Apartment Rent	$1,083.00	$949.00	14.1%

Transportation

Item	Oakwood	National avg.	Difference
Gasoline	$3.87	$3.85	0.5%
Tire Balancing	$61.39	$57.01	7.7%

Utilities

Item	Oakwood	National avg.	Difference
All Electricity	$134.75	$177.27	24.0%
Phone	$188.95	$189.62	0.4%

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	Population	Cost of Living Index	National Avg.
Auburn, GA	7,519	90	9.8%
Lula, GA	3,061	91	8.9%
Gillsville, GA	317	94	6.4%
Gainesville, GA	41,464	94	5.6%
Buford, GA	16,003	96	4.1%
Oakwood, GA	4,191	91	9.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Bancroft, ON	4,191	n/a
Spindale, NC	4,193	84	15.5%
Alfred, NY	4,193	91	8.7%
Bonsall, CA	4,194	161	60.9%
Tiptonville, TN	4,194	83	16.7%
Oakwood, GA	4,191	91	9.2%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2023; this is the most current data available.