Alabama comes in on the low end of the scale. You’ll need $39,920 a year, or $3,326 a month, to afford the median rent in Alabama ($998) and adhere to the 30 percent threshold guide. That’s the 48th lowest salary needed in the U.S., behind only Arkansas ($38,120), Oklahoma ($38,000) and West Virginia ($35,520.)
What is a livable salary in Alabama?
Living Wage Calculation for Alabama
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 3 Children | |
| Living Wage | $15.91 | $24.43 |
| Poverty Wage | $6.19 | $7.46 |
| Minimum Wage | $7.25 | $7.25 |
How much does it cost to live in Alabama per month?
The typical renter in Alabama spends $772 a month on housing, $251 less than the $1,023 national median monthly rent. Monthly rent for a one-bedroom in the state is $600, while the typical rent for a unit with five or more bedrooms is $1,130.
Is it cheap to live in Alabama?
Alabama has one of the lowest housing costs in the country. Most people generally take for granted that Alabama has one of the lowest costs of living in the country.
What is a comfortable salary in Alabama?
As of May 14, 2022, the average annual pay for the Comfortable jobs category in Alabama is $39,063 a year. Just in case you need a simple salary calculator, that works out to be approximately $18.78 an hour. This is the equivalent of $751/week or $3,255/month.
What is the average single income in Alabama?
Alabama Per Capita Income
The ACS survey shows the median per capita income for Alabama was $28,650 in 2019. Compared to the US per capita income, Alabama per capita income is $7,022 lower.
What is the cheapest state to live in?
Mississippi
Mississippi. Mississippi is the cheapest state to live in in the United States. Overall, costs in the state are 17% lower than the national average. Housing costs in Mississippi are the lowest in the nation.
What is the cheapest city in Alabama to live in?
Gadsden. Gadsen tops our list of the most affordable cities in Alabama.
What is the lowest Cost of Living state?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
Is it cheaper to live in FL or Al?
Alabama is 1.4% cheaper than Florida.
Is it good to move to Alabama?
Boasting some of the country’s most affordable home prices, lowest cost-of-living indexes, and relatively low taxes, Alabama is a very affordable state to live in. The median home value in Alabama in a given year ranges between $135,000 and $145,000, giving you much more value than other housing markets in the country.
What are the pros and cons of living in Alabama?
Pros & Cons of Living in Alabama
| Pros of living in Alabama | Cons of living in Alabama |
|---|---|
| There are top-quality educational opportunities in Alabama | Some of the public schools in Alabama are known for poor quality |
| Low housing costs | You’ll have to put up with many socially conservative people in Alabama |
What jobs are in demand in Alabama?
Alabama High Demand Occupations Base Year 2014 and Projected Year 2024 Table of Contents
| SOC | Occupation | 2024 |
|---|---|---|
| 131111 | Management Analysts | 6,080 |
| 151151 | Computer User Support Specialists | 7,080 |
| 413021 | Insurance Sales Agents | 7,610 |
| 312021 | Physical Therapist Assistants | 2,610 |
What’s the highest paying job in Alabama?
Highest-paying jobs in Alabama
- No. 1 – Orthopedic surgeons, except pediatric.
- No. 2 – Cardiologists.
- No. 3 Radiologists.
- No 4 – Obstetricians and gynecologists.
- No. 5 – Family medicine physicians.
- No. 1 – Family medicine physicians.
- No. 2 Chief executives.
- No. 3 – Dentists, general.
What is middle class in Alabama?
Here are the income levels that qualify Alabamians as middle class: 2-person family middle class income range: $37,172.94 to $110,964. 3-person family middle-class income range: $42,604.63 to $127,178. 4-person family middle-class income range: $52,438.89 to $156,534.
What is considered low income in Alabama?
Alabama is the fifth poorest state in the U.S., and 16.8% of Alabamians live below the federal poverty threshold – a noticeably larger percentage than the national average of 13.1%. The federal poverty thresholds range from $12,784 for one person to $25,701 for a family of four.
What is considered rich in Alabama?
Alabama ranked eighth on the list for places where you can be considered “rich” if your household income is less than $100,000 a year. Alabama’s wealth threshold is $88,984.
What percentage of Americans make under 40k a year?
Households with annual income of less than $25,000, constituted 28.22% of all households, while households with incomes between $25,000 and $50,000 represented 23.25% of the population.
How can I live for free?
14 Ways to Live Rent-Free
- Teach English Abroad.
- Volunteer with Peace Corps or AmeriCorps.
- Become an Au Pair.
- Trade Services for Free Rent.
- Become a House Sitter.
- Become a Resident Assistant at Your College.
- Find a Job That Provides Housing.
What is the best state to live in financially?
Overall ranking of best states for your finances
| Rank | State | Score |
|---|---|---|
| 1 | Tennessee | 4.33 |
| 2 | Utah | 4.45 |
| 3 | Idaho | 4.59 |
| 4 | Arkansas | 4.91 |
What is the cheapest state to live in 2022?
Most affordable states to live in 2022 are
- Mississippi. Mississippi has the lowest cost out of living of all 50 states.
- Kansas. Kansas State has the second lowest cost of living in USA, with the overall cost of living index is 86.8.
- Oklahoma.
- Arkansas.
- Missouri.
- Alabama.
- New Mexico.
- Georgia.
