Social Circle cost of living index

Displayed above is a general overview of the Social Circle, GA cost of living index. The overall cost of living index in Social Circle, GA is 92, which is 1% lower than the Georgia average and 8% 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 Social Circle, GA are 7% higher than the Georgia average and 2% higher than the national average.

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Salary Calculator

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

One can approximate the cost of living and the housing affordability in Social Circle, GA by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Social Circle, GA have a median income of $64,747. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,511 per month to avoid calamity and poverty. The renters in the city have an income of about $20,671, which would make their monthly maximum allowable rental costs $482.

Georgia Sales Tax

Georgia Income Tax

When you are determining the total cost of living in Social Circle, 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 Social Circle, GA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.