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.
The above illustration supplies generalized information for the Springville, AL cost of living index. Compared to other cities in Alabama and cities across the country, the cost of living index in Springville, AL is 96, which is 7% higher than the Alabama average and 4% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Springville, AL are 5% lower than the average for Alabama and 8% lower than the rest of the country.
Find Real Estate Listings In Springville
New Real Estate Listings In Springville
Did you know?
The cost of living in Springville is 7% higher than the Alabama average.
The cost of living in Springville is 4% lower than the national average.
The cost of housing in Springville is 2% higher than the national average.
Alabama general sales tax is 21% lower than the national average.
Alabama state income tax is 10% lower than the national average.
Compare Springville, AL Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator is used in order to provide a comparison of your current salary in Springville, AL 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 Springville, AL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Springville, AL 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
Max Budget (28% DTI)
Max Budget (36% DTI)
If you want to find a good determining factor for the cost of living and the general affordability of housing in Springville, AL, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Springville, AL, the median monthly income is $84,829 for those who own their own homes. Under the standard rule, that income level would allow for $1,979 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $37,250, per the median income in the area. That would allow for renters to spend up to $869 on monthly rental expenses.
Alabama Sales Tax
General Sales Tax
With Max Surtax
Alabama Income Tax
Income Tax (Low)
Income Tax (High)
When assessing the complete cost of living in Springville, AL, the Alabama income tax and the Alabama sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Alabama maximum surtax is 13.5%, and the Alabama sales tax is 4%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 2% to 5% in Alabama.
Goods & Services
Avg. Mortgage Payment
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.