Cost of Living in Montgomery, AL

Housing

The housing market plays a significant role in determining the cost of living in Montgomery, AL.

• Housing Index: 89.0 / 100
• Median Home Price is: $250000
• Average Rent (2 BR Apartment): $950 per month
• Average Rent (2 BR House): $1000 per month

Considering a move to Montgomery, AL? The housing index shows a favorable score of 89.0, indicating a relatively affordable market. With a median home price of 250000, this sum suggests purchasing a home could be within reach for many families. Additionally, rental options are accessible, with an average rent of 950 for a 2-bedroom apartment and 1000 for a 2-bedroom house. As you evaluate your options, it's worth noting that home values have historically appreciated over time, positioning homeownership as a wise long-term investment.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Montgomery, AL.

• Electricity Price: 15.03 USD (median by state)
• Natural Gas Price: $21.76 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $220 per month

Living in Montgomery, AL could entail higher utility costs. Electricity costs sit at 15.03, while natural gas is priced at 21.76 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 220 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 95.5

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $54166

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Montgomery, AL, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.