Atlanta is not simply Atlanta’s capital; it is also the cultural and economic hub of the Atlanta metro area. As with any metropolis, there are many factors to take into consideration when working out the cost of living in Atlanta Georgia. 

Atlanta is the ninth-largest metropolitan region in the United States, with a population of about 5.7 million people. Atlanta’s history extends back to the early 1800s, with a rich and vibrant history.  Step back in time at places like The Atlanta History Center, which encompasses key cultural, political, humanitarian, and literary events.

For many people, living in the ATL is a dream come true. Skyscrapers soar over the throngs of young artists, entrepreneurs, and hustlers on the street. 

If you’re considering moving to Atlanta, knowing the cost of living in Atlanta Georgia, can help you make an informed decision and prepare for your move. 

Let’s look at the cost of living in Atlanta Georgia.

Cost Of Living In Atlanta Georgia: Your Relocation Guide

Housing/ Real Estate

Housing is a major contributor to the cost of living in Atlanta Georgia. What should you expect to pay for a property in Atlanta? Which parts of Atlanta are affordable and which are expensive?

Buying Property

Atlanta’s appreciation rates are on the rise. From 2000 to 2018, the total rate was 67.68 percent. While this may appear to be a high percentage, it is just slightly higher than the national average.

The median sales price of a family house in the Atlanta metro area is $216,100. This makes buying a home in the city a viable option, especially when compared to cities like DC and New York.. 

Once you’ve decided to buy a house, you’ll need to decide which type of property is best for you, based on your budget and how much time you’re ready to devote to upkeep. Based on your budget, Atlanta has the following options:

• Tudor: The Tudor Revival style is seen in locations such as Peachtree Heights, Druid Hills, Midtown, Buckhead, and Morningside, and is inspired by design aspects of early 16th-century architecture in Tudor England.
• Condos:  in areas such as downtown, Buckhead, and Midtown. Buckhead Grand provides unparalleled views.
• Bungalows: Bungalows from the 1920s and 1930s can be seen in Edgewood and Grant Park

Rental Market 

If you think renting would be a better option to manage the cost of living in Atlanta Georgia, you’re not alone. The rate of homeownership is only 45%, which is significantly lower than the national average. Atlanta’s average rent is $1,692. On average, a one-bedroom apartment costs $1,446.

However, rent prices in Atlanta vary significantly by neighborhood. The following areas are considered the most expensive:

• Midtown costs roughly  $1,970p/m
• Downtown costs about $1,867p/m
• Old Fourth Ward  costs roughly $1,881p/m
• Five Points costs about  $1,867p/m
• Morningside-Lenox Park costs about  $1,608p/m
• Poncey-Highland costs about  $2,236p/m
• Atlanta-Inman Park costs about $1,938p/m

Midtown is home to several workplaces and high-rise apartments and is within walking distance of the famous  Piedmont Park. In Midtown, a two-bedroom apartment costs roughly $2,675. 

Buckhead is an upmarket district that’s not far from downtown Atlanta. It’s densely populated by people starting their careers as well as recent graduates. It’s less expensive than Midtown, with plenty of dining and shopping. A two-bedroom apartment will set you back at around $2,090. The Bryant at Buckhead Village, a new building with high-quality amenities, is one of the greatest locations to rent in Buckhead.

The Downtown area has added a lot of new housing, tourist attractions, and employment. Virginia Highland is a popular destination for families and professionals looking for a small-town feel. A two-bedroom apartment costs roughly $2,000 in the downtown area. The renowned Fourth Ward Park is surrounded by a number of outstanding apartment structures.

Food 

Since A-Town is one of the United States’ culinary capitals, you have to consider the price of food when working out the cost of living in Atlanta Georgia. A three-course lunch for two in a mid-range restaurant will set you back $50. 

The average cost of a supper for one person in a low-cost restaurant is $15. Research estimates that Atlanta households will have to pay $312.65p/m on food. This is less than the national average of $324.33.

Atlanta has all the delectable pleasures that one would expect from a Southern metropolis. Waffle House and Chick-Fil-A are popular chains, but there is also a booming independent food sector. A meal in a low-cost restaurant will set you back around $14.00. 

The annual Atlanta Food and Wine Festival is a great way to experience everything the city has to offer. A one-day pass costs $175, and a weekend three-day pass costs $500.

ATL is known for its fantastic dining scene, so whether you and your significant other appreciate mouthwatering steaks, barbecues, or Mexican food, a meal in a mid-range restaurant would set you back about $50.00.

Transportation

Transport must be considered when figuring out the cost of living in Atlanta Georgia. MARTA, the public transport system will set you back $95 for a 30-day pass. Unlike New York, you’ll need a car in this city. Because of that, gas will come into play when calculating the cost of living in Atlanta Georgia.

Atlanta’s average daily commute time is 62 minutes, which is among the worst in the country.

The price for a gallon of gas in Atlanta is $2.72. This is a bit more pricey than the $2.66 state average but less expensive than the $2.86 national average.

When it comes to walkability, Atlanta is a far cry from New York City. Apart from the downtown area, which has walkable streets, the rest of the city is extremely dispersed. 

That is why having a car is advised. Fortunately, according to Expatistan data, the average price of a gallon of ordinary gas is $2.44, which is still less than the $3.06 per gallon in California.

Gas

Fuel is one of the contributing factors to the affordable cost of living in Atlanta Georgia. Fuel prices might range from $1.80 to $4.00 depending on your car model and the type of petrol you’re used to buying. Despite this, Georgia has some of the lowest gas costs in the country. 

Taxes

People rarely consider taxes when they think about the cost of living in Atlanta Georgia.

Georgia has a mixed tax situation due to its low property taxes combined with high grocery prices and a high sales tax. We’ve broken down some of the most significant components of Atlanta’s tax system so you can learn more about it before relocating to ATL.

Income Tax Rate

Georgia used to have a simple progressive income tax system with rates from 1% to 5.75%. Georgia has one of the tightest income tax bands among other states with the same system, with each rate applying to very tiny income levels. For singles, the highest marginal tax rate of 5.75 percent begins at $7,000 in taxable income.

Georgia is drafting legislation to combine these tax bands into a single, flat rate of income tax.

Property Tax Rate

Property taxes in the state of Georgia are based on the assessment of the value of your home and are average for the United States. A 40% assessment percentage is used in Atlanta. The assessed value of a residence with a valuation of $200,000 is $80,000. A regular homestead exemption of $2,000 is also available.

How is property tax calculated? You use the millage rate, which is the amount of taxes you pay per $1,000 of assessed value. 

One mill equals one dollar for every $1,000 in assessed value. The rate of property tax in Atlanta is 33.565 mills, with a tax rate in the county of 9.98 mills. This equates to a total rate of $43.545 per $1,000 of assessed value.

Sales Tax Rate

The state sales tax rate in Georgia is  4.0 percent, making it one of the lowest in the country. This does not, however, include county and city taxes. The sales tax in Atlanta is 8.9%, the highest in Georgia. Based on the total state and average local tax rates, Georgia has the 19th highest sales tax rate in the country.

Childcare

Infant care costs around $640p/m for a baby, and $540p/m for a 4-year-old. And if you have two children, you’ll have to pay $14,150 per year, which is over 46% higher than the average rent in Georgia.

Other Costs

You might feel that going to the gym is a no-brainer if you want to balance out all of the Southern delights offered in Atlanta. According to Numbeo, you will pay roughly $35 each month if you do. 

If you’d rather watch sports than exercise, go watch a game of basketball at Truist Park in Atlanta. According to Statista.com’s 2018 analysis on Major League Baseball ticket pricing, Braves tickets average roughly $32.

It would be a pity to live in Atlanta and not learn about the city’s fascinating history. You are definitely spoiled for choice, and not all of them are prohibitively expensive. The Martin Luther King, Jr. National Historic Center is open to the public for free. 

Anyone 16 and under gets admitted free to Atlanta’s Jimmy Carter Presidential Library and Museum, but a single adult will pay $12. Adult tickets to Atlanta’s Center for Civil and Human Rights are $19.99, while children’s tickets are $15.99. 

Cost of Living In Atlanta Index

How much money do you need to make in Atlanta? Comparing the cost of living in Atlanta Georgia. to your present city, can be beneficial when considering relocating to A-Town. This is a helpful tool for comparing common expenses in major cities, but bear in mind that the cost of living in Atlanta will vary depending on your lifestyle, household size, location in the city, and other factors.

Atlanta’s cost of living index is 102.4%. Atlanta is only 2.4% more expensive than the national average, which is a rare discovery for a major metro area!

What is the breakdown of this by category? Atlanta’s average grocery bill is only 3% higher than the national average. Transportation is also relatively close, as is housing, both of which are only 2-3% higher than the average cost of living in the United States. 

You’ll likely save money on utilities in Atlanta, which are 15% lower than the national average. The Atlanta metro area’s Consumer Price Index climbed 1.2% in the previous year.

All expenses outside food and energy, which includes apparel, used automobiles, and shelter – went up by 1.7%, while the food index increased by 4.5%. In Atlanta, the energy index fell by 9%. This index does not compare the cost of living in Atlanta Georgia to the cost of living in any other city.

How Much Should You Be Making

To live in Atlanta, how much money do you need? Start with the average pay in Atlanta, which is $69,000 or $18.41 per hour. In the city, wages have fallen by around 0.7%.

Atlanta’s median household income is $65,345, up 13.5% over the previous year. On the other hand, the average household income is $90,879. Median income differs from average income in that it divides every household income into two equal groups before arriving at the median income. This means that half of all households earn more than the median income, while the other half earn less.

Final Thoughts

Atlanta, Georgia has a lot to offer. With a vibrant history,  great cuisine, and a decent cost of living, you might seriously consider moving. 
Feeling overwhelmed or not ready to start your move? Consider hiring the best moving company in Atlanta. Contact us today to get your move started.