What is the cost of living in Alabama?
The cost of living in Alabama is 10.0% lower than the US average. According to MIT, the required living wage for a family of four with two working parents in Alabama is $80,777 vs the national average for a family of four with two working parents of $89,744. The median income of a Alabama household is $52,035.
The average home price in Alabama is $149,600, which is lower than the US average home price of $229,800. Median rent in Alabama is $811/mo which is lower than the US average rent of $1,096/mo. If you want to adjust homes prices to local incomes, the ratio of home prices to median household income is about 2.9 to 1. That means it takes roughly 2.9 years of a full salary to pay off a house. That compares to the national average of 3.5 to 1.
All in all, Alabama has a low cost of living compared to America as a whole.
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People Also Ask About Alabama
Is Alabama a dangerous state?
Yes, Alabama is a dangerous state as it ranks as the #12 most dangerous state in the United States based on our analysis of the latest FBI Crime Data. The violent crime rate in Alabama ranks 14th most dangerous in the United States -- 22.65% worse than US average violent crime rate. The property crime rate in the Heart of Dixie ranks 19th most dangerous in the United States -- 9.33% worse than US average property crime rate. The latest reporting year from the FBI was 2022.
Is Huntsville, AL a dangerous city?
No, Huntsville is not a dangerous city. Huntsville ranks as the #55 safest out of 328 major cities over 100,000 people in the United States based on our analysis of the latest FBI Crime Data. Keep in mind that are always safe and dangerous parts of any city, so even though Huntsville might be considered safe you still need to be aware of where you are.
Compared to other big cities, the violent crime rate in Huntsville ranks 239th highest in America -- 46.02% better than US average violent crime rate. The property crime rate in the ranks 275th highest in the United States -- 44.8% better than US average property crime rate. Note the latest reporting year from the FBI was 2022 and that no city in America is "dangerous". Despite the uptick in murders, it's nothing like you'd see in Tijuana or Caracas where the murder rate is 2x any American city.
What county in Alabama has the lowest cost of living?
The county in Alabama with the lowest cost of living is DeKalb County. The average living wage in DeKalb County is $74,765 according to MIT data. DeKalb County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Alabama as a whole. Childcare costs $8,562 a year in DeKalb County for two children compared to the Alabama average of $11,652. Housing costs, defined as a blend of the average rent and average mortgage payment, are $7,608 per year in DeKalb County compared to $9,794 on average in Alabama.
What is the cheapest housing market in Alabama?
The cheapest housing market in Alabama is Prichard. The average home value in Prichard is $66,100, the lowest in the state. The average home value in Alabama is $149,600, almost 2.3 times higher than Prichard.
