A+
10%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
28%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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 Sylacauga Alabama National
Cost of living9088100
Goods & Services9896100
Groceries9796100
Health care9487100
Housing7272100
Transportation9191100
Utilities108102100

An Overview of Cost of Living in Sylacauga, AL

The cost of living in Sylacauga affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Sylacauga is 90, which is 10% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Is Sylacauga Affordable?

Is Sylacauga affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Sylacauga, for instance, where the median home price falls 27.2% lower than the national average, and monthly rent rates are 30.6% lower than usual. Additionally, median income levels contribute to the equation, with Sylacauga flaunting a median household income of $37,093, 33% lower than the national norm.

What Factors can Influence the Cost of Living in Sylacauga?

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Sylacauga, the utilities index registers 7.5% higher than the national average.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Sylacauga, the housing index is 28.2% lower than the national average.

Where is the Data From?

The Sylacauga cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Sylacauga is 2% higher than the Alabama average
  • The cost of living in Sylacauga is 10% lower than the national average
  • Sylacauga housing is 28% lower than the national average
  • Alabama general sales tax is 22% lower than the national average
  • Alabama state income tax is 11% lower than the national average

Most Affordable Places to Live in and Around Sylacauga

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Compare Sylacauga, AL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$58,779$4,898$1,371$1,764
      Renters$19,187$1,599$448$576
      The affordability of the housing market in Sylacauga, AL as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Sylacauga homeowners, the median income is $58,779. This indicates that a monthly maximum of $1,371 should be spent by homeowners on all housing related costs. Renters have a median income of $19,187. This indicates that renters would have a maximum of $448 for their rent related monthly costs.

      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 Sylacauga National avg. Difference
      Haircut $20.07$24.2617.3%
      Beauty Salon $45.74$45.560.4%
      Toothpaste $3.76$3.701.6%
      Shampoo $1.33$1.284.1%
      Movie $12.54$12.133.3%
      Bowling $16.37$18.009.1%

      Groceries

      Item Sylacauga National avg. Difference
      Ground Beef $6.01$5.843.0%
      Fried Chicken $1.66$1.575.5%
      Milk $4.54$4.672.9%
      Potatoes $5.23$4.936.0%
      Pizza $10.99$12.099.1%
      Beer $10.40$10.410.1%

      Health Care

      Item Sylacauga National avg. Difference
      Optometrist $92.33$125.6826.5%
      Doctor $101.83$135.7825.0%
      Dentist $125.78$113.2911.0%
      Ibuprofen $10.28$10.653.5%
      Lipitor $460.79$468.601.7%

      Housing

      Item Sylacauga National avg. Difference
      Home Price $134,500.00$184,700.0027.2%
      Avg. Mortgage Payment $1,935.73$2,346.6917.5%
      Apartment Rent $659.00$949.0030.6%

      Transportation

      Item Sylacauga National avg. Difference
      Gasoline $3.13$3.469.7%
      Tire Balancing $54.52$59.929.0%

      Utilities

      Item Sylacauga National avg. Difference
      All Electricity $219.40$193.9913.1%
      Phone $188.55$192.251.9%
      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.
      Mignon, AL7717821.7%
      Hollins, AL9677821.9%
      Kellyton, AL1758218.4%
      Bon Air, AL778217.9%
      Goodwater, AL1,3768119.0%
      Sylacauga, AL12,1329010.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Cascades, VA12,13215150.9%
      Baraboo, WI12,133990.8%
      Lake Tapps, WA12,12914747.3%
      Fortuna, CA12,13511918.7%
      Somerville, NJ12,13912727.2%
      Sylacauga, AL12,1329010.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.