Cost of living in Georgia: Average rent prices. Utility costs. Transportation expenses. Grocery prices. Healthcare costs. School tuition fees. Tax rates. Entertainment expenses. Insurance premiums. Cost of dining out.
Average rent prices
The median rent in Georgia is $2,000, reflecting a year-over-year increase of $35. Rent prices can vary significantly, ranging from $100 to $52,995 per month, depending on the property type and location. For a deeper insight into these trends and variations, you can explore more details on the Zillow Rental Manager website, which provides comprehensive market trends and data.
Utility costs
In Georgia, the average monthly utility costs total approximately $411, encompassing $134 for electricity, $141 for gas, $108 for cable and internet, and $28 for water. However, recent data indicates a significant rise in electricity bills, with expectations that they may reach a total of $201.47 per month during the summer, marking a $72.88 increase. For more detailed insights into the living expenses in the state, visit the comprehensive guide on the Cost of Living in Georgia.
Transportation expenses
Transportation expenses in Georgia can significantly vary, ranging from $5,477 to $15,530 annually. These costs are influenced by the household composition, including whether it's a single adult, two working adults without children, or a family with two working adults and three children. To gain deeper insights into these variations and other aspects of living expenses, you might explore the Cost of Living in Georgia, which provides comprehensive guidance on managing and anticipating transportation and other living costs across different family dynamics in the state.
Grocery prices
Grocery prices in Georgia are slightly above the national average, with costs varying by city. Interestingly, in Macon, groceries are about 3% less than the national average, providing some relief for residents. Meanwhile, in Savannah, the situation is slightly different as groceries are 2% more expensive, reflecting the diverse cost of living across the state. For more detailed insights into these economic variations, you can explore the Cost of Living in Georgia. Understanding these regional disparities is crucial for anyone considering relocating within the state.
Healthcare costs
In Georgia, the average cost per hospitalization is approximately $13,000, with inpatient services averaging over $28,000 per person per year for those hospitalized. The state's overall per-person health expenditures were around $7,914 in 2020, though this figure is expected to rise as the All-Payer Claims Database becomes more comprehensive.
School tuition fees
Beginning in the 2024-2025 academic year, students attending Georgia's public universities will experience increased tuition and fees. In-state undergraduate tuition will rise by 2.5%, bringing the average cost for two semesters to $6,466, while out-of-state tuition is set to increase by 5%. These adjustments illustrate the ongoing financial challenges within higher education. The tuition rates vary significantly across institutions, with costs ranging from $3,506 at East Georgia State College to $12,058 at Georgia Tech. For more detailed information, you can read the full article on Tuition and Fees Increase at Georgia's Public Universities.
Tax rates
In 2024, Georgia simplified its tax system to a flat state income tax rate of 5.49%, which will be further reduced to 5.39% under new legislation, affecting income earned in 2024 and reported on state tax returns in 2025. Previously, the state had six tax rates ranging from 1% to 5.75%, depending on filing status and taxable income. For more detailed information, visit the Georgia State Tax guide to understand the comprehensive changes and how they may impact your financial planning.
Entertainment expenses
In Georgia, entertainment expenses can be managed affordably, with examples including tickets to an Atlanta Braves game averaging $54, a three-course meal at a mid-range restaurant costing around $100 for two people, and various free or budget-friendly activities like visiting Stone Mountain or exploring the Atlanta Beltline.
Insurance premiums
In Georgia, auto insurance premiums reveal significant racial disparities, with drivers in predominantly Black areas paying up to 25.1% more than the state average. A study found that specific insurers, such as Geico, exhibit even more pronounced discrepancies, charging up to 63.3% higher premiums in Black-majority areas compared to white-majority areas. This disparity highlights the ongoing issue of inequality in insurance costs across different demographic groups within the state.
Cost of dining out
The cost of dining out in Georgia has significantly increased due to inflation and the impact of COVID-19, with menu prices 7.7% higher in June 2023 compared to June 2022. This rise in prices has made dining out a more expensive luxury, particularly with items like a 6-piece wing meal with fries and a drink costing around $25.