Is It Expensive To Live In Atlanta?
Atlanta is the capital of the
Southeast. The region continues to outgrow and outpace other metro regions in
the country. In this video I break down the cost of living in Atlanta vs. Los
Angeles.
So you’re looking at Atlanta and wondering how expensive it is to live here? Let’s start with current statistics.
According to the Metro Atlanta Chamber of Commerce, trees aren’t the only things growing here. In 2019 there were 30 fortune 500/1000 companies with an average revenue of $438 Billion. Just recently Amazon and Microsoft have said they will expand their operation in the region.
The current population of Atlanta is around 6 million compared to population of LA at around 13 million. The trend for growth is about 8% or 500,000 additional people by 2025.
The Atlanta metro area consists of 29 counties and 149 cities and towns – so it’s a sprawling region much like that of LA.
Property tax rates are set locally by each county and city. Real and personal property are assessed at 40% of fair market value.
We have an extensive Healthcare
system here with 45 hospitals, approximately 11,500 total beds and more than
75,000 hospital workers.
Atlanta ranks #1 in the country as a growth leader in technology for jobs and new business.
Hartsfield-Jackson airport is
#1 for world’s busiest airport with over 107 million passengers in 2019 and
also #1 in the world for the most efficient airport.
What does all this mean?
It means that we’re poised to
continue to see growth here for years to come!
Now, let’s look at key factors when considering living expenses with the first being housing costs, according to the Chamber of Commerce, housing costs are 56% less in Atlanta than that of Los Angeles.
Atlanta is slightly above the national average in monthly apartment rent it is still well below that of LA - averaging about $1,200 per month
Home prices here average around $365,000 compared to LA where the average cost is in the low $800,000s.
Now costs will vary depending on whether you are in the city verses that of the suburb.
Utility costs in Atlanta are lower than LA and the national average at approximately $123 for heating and cooling per month compared to that of $183 per month in Los Angeles.
As mentioned earlier, property taxes are typically 40% of your home’s fair market value. Georgia’s income tax is between 1-6%. Sales tax will vary depending on where you are in the region but expect to see 8-9% in the City of Atlanta.
The average household income is $51,000.
Finally, you’ll need to consider owning a car here. Because the metro region is so vast in size, most people do own their own transportation. We do have some public transit but it doesn’t cover the entire region and if you don’t live close to where you work you may find it difficult to get around. The average commute time is 26.3 minutes.
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