Rome cost of living index

Displayed above is a general overview of the Rome, GA cost of living index. The overall cost of living index in Rome, GA is 88, which is 6% lower than the Georgia average and 12% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Rome, GA are 1% lower than the Georgia average and 5% lower than the national average.

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Salary Calculator

The salary calculator is meant to help you compare your salary in Rome, GA to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Rome, GA, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Rome, GA salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

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 Rome, 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. Rome, GA has a median income of about $56,173 for people who own homes. Based on that number, a person should spend a maximum of $1,311 on expenses related to housing. Renters have a slightly different median income, which is $27,736. Based on this average, renters should spend no more than $647 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Georgia Sales Tax

Georgia Income Tax

One thing to keep in mind when considering the cost of living in Rome, GA is the Georgia sales tax and Georgia income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Georgia sales tax rate is 4% and the maximum surtax that can be charged is 8%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Georgia income tax rates 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 Rome, GA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.