Sheffield, Alabama Cost Of Living

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A

Overall 19%

Goods & Services 4%

Housing 47%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; 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	Sheffield	Alabama	National
Cost of living	81	89	100
Goods & Services	96	98	100
Groceries	91	96	100
Health care	77	91	100
Housing	53	72	100
Transportation	89	91	100
Utilities	100	103	100

Key findings

The cost of living in Sheffield is 9% lower than the Alabama average
The cost of living in Sheffield is 19% lower than the national average
Sheffield housing is 47% lower than the national average
Alabama general sales tax is 21% lower than the national average
Alabama state income tax is 19% 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	$49,429	$4,119	$1,153	$1,483
Renters	$17,447	$1,454	$407	$523

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Sheffield, AL, 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 Sheffield, homeowners have a median income of $49,429. Using that number, a maximum of $1,153 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $17,447, which means there is a maximum of $407 to be spent on the costs of renting a home or apartment.

Alabama Sales Tax

State	General Sales Tax	With Max Surtax
Alabama	4%	13.5%

Alabama Income Tax

State	Income Tax (Low)	Income Tax (High)
Alabama	2%	5%

Goods & Services

Item	Sheffield	National avg.	Difference
Haircut	$14.10	$17.49	19.4%
Beauty Salon	$29.40	$38.17	23.0%
Toothpaste	$2.06	$2.32	11.2%
Shampoo	$1.17	$1.01	15.6%
Movie	$13.13	$10.72	22.4%
Bowling	$15.00	$13.86	8.2%

Groceries

Item	Sheffield	National avg.	Difference
Ground Beef	$2.74	$3.90	29.7%
Fried Chicken	$1.33	$1.40	4.7%
Milk	$1.51	$1.96	23.0%
Potatoes	$2.10	$3.18	34.0%
Pizza	$9.94	$10.39	4.4%
Beer	$9.33	$9.23	1.1%

Health Care

Item	Sheffield	National avg.	Difference
Optometrist	$75.60	$106.34	28.9%
Doctor	$70.00	$115.25	39.3%
Dentist	$71.00	$98.38	27.8%
Ibuprofen	$8.82	$9.26	4.8%
Lipitor	$471.68	$466.47	1.1%

Housing

Item	Sheffield	National avg.	Difference
Home Price	$88,900.00	$184,700.00	51.9%
Avg. Mortgage Payment	$966.05	$1,273.32	24.1%
Apartment Rent	$607.00	$949.00	36.0%

Transportation

Item	Sheffield	National avg.	Difference
Gasoline	$2.39	$2.59	7.9%
Tire Balancing	$42.60	$48.90	12.9%

Utilities

Item	Sheffield	National avg.	Difference
All Electricity	$168.39	$167.60	0.5%
Phone	$178.98	$163.42	9.5%

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.
Leighton, AL	934	77	-23%
Cherokee, AL	853	79	-21%
Littleville, AL	1,045	82	-18%
Tuscumbia, AL	8,506	83	-17%
Underwood-Petersville, AL	3,723	84	-16%
Sheffield, AL	9,067	81	-19%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Newark, NY	9,068	88	-12%
Picnic Point, WA	9,068	149	49%
Berkeley, MO	9,068	83	-17%
Smithville, MO	9,069	99	-1%
Hondo, TX	9,071	85	-15%
Sheffield, AL	9,067	81	-19%

Source: The Sheffield, AL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Sheffield, AL Cost of Living

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