Cost of Living in Atlanta, Georgia
Atlanta, Georgia, is known for its rich history, booming job market, and diverse cultural scene. As a major business hub in the Southeast, Atlanta offers plenty of opportunities for career growth and a relatively affordable cost of living compared to other major U.S. cities. Whether you’re considering a move for work or lifestyle, it’s important to understand the costs associated with living in Atlanta.
In this guide, we’ll break down the cost of living in Atlanta, covering housing, utilities, transportation, groceries, and more. We’ll also explore how you can invest your savings in real estate through mogul, where you can earn monthly dividends and benefit from property appreciation.
Additional reading: How to Choose a Property Management Company
Housing Costs in Atlanta
Housing in Atlanta is more affordable than in many other large cities, making it an attractive option for people looking to buy or rent. However, costs can vary significantly depending on the neighborhood.
- Rent: The average rent for a one-bedroom apartment in Atlanta is about $1,700 per month, while a two-bedroom apartment averages around $2,200. Rent tends to be higher in popular neighborhoods like Midtown, Buckhead, and Inman Park, while more affordable options can be found in areas like East Atlanta and West End.
- Home Prices: As of 2023, the median home price in Atlanta is approximately $430,000. Home prices have been rising due to the city’s growth, but there are still more affordable options in suburban areas like Decatur, Smyrna, and Marietta.
- Property Taxes: The property tax rate in Atlanta is about 1.06% of a home’s assessed value, slightly below the national average but still significant given the rising home values.
Utility Costs
Atlanta’s hot and humid summers and mild winters affect utility costs, with air conditioning being a major expense during the warmer months.
- Electricity: The average electricity bill in Atlanta is around $150-$180 per month, though this can rise in the summer when air conditioning use is at its peak.
- Gas: Natural gas costs in Atlanta average about $50-$80 per month, mostly used for heating during the cooler winter months.
- Water: Water bills typically range from $30-$60 per month, depending on household size and usage.
- Internet: High-speed internet in Atlanta generally costs between $50 and $80 per month, depending on the service provider and package.
Due to the hot summers, many residents find that their electricity bills spike in July and August, but the milder winters help offset these costs.
Transportation Costs
Atlanta is a car-centric city, though public transportation options like MARTA (Metropolitan Atlanta Rapid Transit Authority) are available. Transportation costs can vary depending on whether you drive or rely on public transit.
- Gas: The average price of gas in Atlanta is about $3.50 per gallon, though this can fluctuate based on national trends.
- Public Transit: A monthly MARTA pass costs around $95, providing unlimited access to buses and trains. MARTA is a cost-effective option for those commuting into the city for work.
- Parking: Parking in downtown Atlanta can be expensive, with monthly parking fees ranging from $100 to $200. However, parking in residential neighborhoods is generally more affordable or free.
Many people choose to drive in Atlanta due to its sprawling layout, but MARTA is a popular option for those commuting into the city from the suburbs.
Grocery Costs
Grocery prices in Atlanta are close to the national average, though costs can vary depending on where you shop.
- Milk: A gallon of milk costs around $3.80.
- Eggs: A dozen eggs typically costs about $4.10.
- Bread: A loaf of bread is priced around $2.80.
- Chicken: A pound of boneless chicken breasts costs approximately $5.00.
- Fruits and Vegetables: Fresh produce prices vary, with a pound of apples costing about $2.40, and potatoes about $1.80 per pound.
Shopping at discount grocery stores like Walmart, Kroger, or Aldi can help keep your grocery bill manageable.
Healthcare Costs
Healthcare costs in Atlanta are in line with the national average, though out-of-pocket expenses and insurance premiums can vary depending on coverage.
- Doctor’s Visit: A routine doctor’s visit without insurance typically costs around $120-$150.
- Health Insurance: The average cost of individual health insurance in Georgia is about $470 per month.
- Prescription Drugs: Prescription medication costs generally range from $15-$40, depending on your insurance plan.
Atlanta has a variety of healthcare providers, with several well-regarded hospitals and medical centers, including Emory University Hospital and Piedmont Hospital.
Entertainment and Lifestyle
Atlanta offers plenty of entertainment options, from museums and parks to a thriving food scene and professional sports teams. Here’s what you can expect in terms of entertainment costs:
- Dining Out: A meal at a mid-range restaurant typically costs around $20-$30 per person, while fast-food meals are closer to $10-$12.
- Fitness Memberships: Gym memberships in Atlanta range from $40 to $70 per month, depending on the facility and amenities.
- Movie Tickets: A movie ticket typically costs about $14-$16.
- Outdoor Activities: Atlanta offers plenty of free or low-cost outdoor activities, from hiking trails at Stone Mountain to exploring the BeltLine, a popular multi-use trail that runs through the city.
With a mix of free and low-cost activities, you can enjoy all that Atlanta has to offer without overspending.
Taxes
Georgia’s tax structure is fairly average compared to other states, with income and sales taxes contributing to the overall cost of living in Atlanta.
- State Income Tax: Georgia has a state income tax with rates ranging from 1% to 5.75%, depending on your income level.
- Sales Tax: The sales tax rate in Atlanta is 8.9%, which applies to most goods and services.
- Property Tax: As mentioned earlier, Atlanta’s property tax rate is about 1.06%, making it relatively affordable compared to other large cities.
How to Make the Most of Your Money in Atlanta
Living in Atlanta can be affordable compared to other major cities, but costs can still add up. By managing housing, transportation, and entertainment expenses, you can free up more money for savings or investments.
One smart way to put your savings to work is by investing in real estate through mogul, where you can earn monthly dividends and benefit from property appreciation.
Invest with mogul and Grow Your Wealth
Here’s why mogul is an excellent option for putting your savings to work:
- Low minimum investment: Start investing in real estate with just $250, making it accessible for investors at all levels.
- Monthly dividends: Enjoy consistent income from rental properties, helping you grow your savings steadily over time.
- Property appreciation: As real estate values increase, your investment grows, providing long-term financial benefits.
- Hassle-free investing: All properties are professionally managed by mogul, so you don’t have to worry about day-to-day property management.
By investing through mogul, you can turn your savings into a profitable investment that helps build wealth over time.
The Bottom Line
The cost of living in Atlanta is generally affordable, especially compared to other major cities like New York or San Francisco. However, managing your housing, transportation, and entertainment expenses can help you make the most of your income.
Once you’ve saved on living costs, consider investing those savings through mogul to take advantage of monthly dividends and property appreciation from real estate investments. With a low minimum investment of $250, mogul makes real estate investing simple and accessible.
Ready to make your money work for you? Join mogul today and start investing in real estate for long-term financial success.
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Disclaimer: The information provided in this guide is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult with a licensed professional before making any financial or investment decisions.