Atlanta, well-known for its diversity and cosmopolitan vibe, is Georgia’s state capital and the seat of Fulton County. Boasting a GDP of $370 billion, the city and its metropolitan area have the 10th-largest economy in the nation and one of the 20 largest in the world. It’s also among the largest major cities in the Southeastern U.S.
What was once a major railroad hub that was almost burnt down entirely during the Civil War has grown back bigger and stronger than ever. Nowadays, Atlanta has an extremely diverse economy with job opportunities across a variety of industries. In 1996, it even hosted the summer Olympics and has been recognized as a global city ever since.
With so much to offer, you might expect the cost of living in Atlanta to be high. However, living here is actually less expensive than it is in many other cities in the U.S. Nevertheless, if you’re planning to move to Atlanta, it’s essential to crunch the numbers and create an accurate budget. In this guide, we’ll cover expenses for everything from housing to taxes to entertainment.
Housing
Many neighborhoods and districts across Atlanta have seen significant revitalization efforts, originally spurred by the Olympic Games in 1996. Since then, modernization has continued — and even intensified — therefore changing the city’s dynamics considerably. In turn, this has pushed up house prices over the decades, but not to the sky-high levels of cities such as Los Angeles or New York City.
What Is the Average Home Price in Atlanta?
The median sale price of a home in Atlanta is around $430,000 while the average price sits at $519,000 and is far lower than in many other major cities in the U.S. However, these figures are significantly higher than real estate prices for Georgia as a whole, which hover around $370,000.
If you’re planning to take out a mortgage to buy a house in Atlanta, expect an interest rate of 4.77% for a typical 20-year, fixed-rate mortgage. Additionally, housing costs average at $1,300 per month and this incorporates mortgage payments, utilities, home association fees and any other housing-related expenses.
Atlanta condos are typically costlier in central districts and neighborhoods, with an average price of around $412 per square foot downtown, compared to $175 in the outskirts.
How Much Is Rent in Atlanta?
Renting an apartment in Atlanta costs around $1,800 per month on average, based on an average apartment size of 970 square feet — on par with the national average. Of course, prices differ depending on location and size, so you could pay as little as $700 per month in some areas.
The average rent for an Atlanta studio is between $800 and $10,800, while a one-bedroom apartment in Atlanta is between $740 and $13,700. You can also find two-bed apartments in Atlanta ranging from $740 to $18,800 per month and Atlanta three-bed rentals between $800 and $17,800.
Different areas demand different rents. Some of the most affordable neighborhoods in Atlanta include:
- Adams Park ($1,100 per month)
- Audobon Forest ($1,100 per month)
- Audobon Forest West ($1,100 per month)
At the other end of the spectrum, the most expensive neighborhoods in Atlanta are:
- Sherwood Forest ($2,400 per month)
- Buckhead Heights ($2,400 per month)
- Lenox ($2,400 per month)
Meanwhile, the most popular Atlanta neighborhoods for renters fall somewhere in the middle in terms of price:
- Midtown Atlanta ($2,300 per month)
- Frontier Woods ($1,600 per month)
- Chattahoochee Bluffs ($1,900 per month)
What Is the Average Cost of Utilities in Atlanta?
Two people sharing a 900-square-foot apartment can expect to pay around $250 each month on basic utilities, including heating, cooling, water, electricity and garbage disposal. Similarly, one person in a smaller, 480-square-foot studio will pay about $120.
Internet expenses hover around $70 per month, while a basic, prepaid, local mobile tariff will typically cost $0.21 per minute.
Incomes & Taxes
Atlanta has an extremely diverse job market and economy, offering a wide range of job opportunities across a broad spectrum of industries. As a matter of fact, it ranks third in terms of the number of Fortune 500 companies headquartered within the city limits. IT and tech jobs are increasingly popular, and you’ll also find plenty of opportunities in finance, manufacturing and healthcare.
As a state, Georgia’s tax system is in the middle when it comes to the burden its taxes place on taxpayers. It has the 35th highest individual income tax in the country, while combined state and local sales taxes position it on the 19th spot.
What Is the Average Salary in Atlanta?
In Atlanta, workers earn an average monthly net salary of $4,800 after taxes, which is considerably higher than the national average of $3,700. The city’s median household income hovers around $64,200 per year, while the average figure is at $111,000.
In Atlanta, the most common jobs held by residents are in management, with around 18% of the workforce hired in such roles and earning a typical annual salary of $88,500. What’s more, about 11% of the workforce is employed in business and financial operations, with a yearly wage of approximately $79,300.
What Is the Income Tax in Atlanta?
Georgia uses a simple progressive income tax system. Rates range from 1% up to 5.75%, with single filers who earn more than $7,000 in taxable income paying the top rate. For those filing jointly, this minimum increases to $10,000. However, taxpayers in Georgia can claim a standard deduction of $4,600 for single filers or $6,000 for joint filers.
What Is the Sales Tax in Atlanta?
At 4%, Georgia has one of the lowest state-wide sales taxes in the U.S. However, each county levies an additional local tax of up to 4.9%. On top of that, Atlanta adds its own sales tax of 1.15%, which brings the total sales tax to 8.90% in the city. And, while most products are subject to full sales tax, a lot of grocery products are exempt and only subject to local taxes. Automobiles also have their own rules, with a 6.6% tax being levied on the vehicle’s market value — not the sales price.
There are also usually two annual tax holidays in Georgia. The first one is in late July, runs for a day and applies to back-to-school shopping, including clothing, school supplies and computers. A second tax holiday usually runs later in the year and focuses on water and energy-efficient appliances.
How Much Is Property Tax in Atlanta?
Across Georgia, the average effective property tax rate is 0.87%, which is lower than the national average of 1.07%. Specifically, in Fulton County and Atlanta, the rate is 1.00%.
Transportation
Atlanta workers have an average commute time of around 25 minutes. Overall, the city has a rather mediocre walk score and is mostly car-dependent. However, there are several walkable neighborhoods, particularly in the downtown area. The South Downtown neighborhood is a good example, as it has excellent public transit connections and a wealth of local amenities.
Public transportation in Atlanta is provided by MARTA (Metropolitan Atlanta Rapid Transit Authority), which operates numerous bus lines, as well as light and heavy rail services. In fact, the Atlanta subway system is the eighth busiest in the nation, providing convenient travel throughout the city proper and the metropolitan area.
How Much Is Owning a Car in Atlanta?
If you plan to purchase a private vehicle in Atlanta, expect to pay around $24,000 for a Volkswagen Golf 1.4 90 KW Trendline (or equivalent), or $21,100 for a Toyota Corolla Sedan 1.6l 97kW Comfort (or equivalent). Once you’re up and running, a gallon of gasoline will typically cost $5.
Parking in Atlanta can be tricky but isn’t overly expensive. For instance, the city provides multiple parking spaces that cost between $2 and $20 per hour. As far as garages, most MARTA stations offer free parking for customers.
What Is the Cost of Public Transportation in Atlanta?
A standard one-way fare on MARTA bus and rail services costs $2.50, which allows for four transfers during a three-hour period. The easiest way to get around is to purchase a “Breeze Card,” which costs $2 and can be reloaded as often as necessary. Regular users can also benefit from several passes, including:
- A one-day pass for $9
- A two-day pass for $14
- A three-day pass for $16
- A four-day pass for $19
- A seven-day pass for $23.75
- A 30-day pass for $95
Plus, university students at participating colleges can buy a university pass for $68.50 each month, while school children (K-12) are entitled to a weekly pass for $14.40.
Healthcare & Childcare
Healthcare costs in Atlanta are generally in line with national averages, although some medicines are a little more expensive. Emory Healthcare is the largest healthcare system in the state and provides hospitals and clinics throughout the city.
Childcare costs in Georgia aren’t exactly cheap, but they are less expensive than in other parts of the U.S. For example, average infant costs across the state come in at around $8,500 per year or $710 per month. In Atlanta, you can typically expect costs to exceed these figures.
How Much Is a Visit to the Doctor in Atlanta?
In Atlanta, a 15-minute visit to the doctor will cost around $120 on average. Going to the dentist costs about the same, while a visit to an optometrist is slightly lower at $110. When it comes to medicine, you’ll pay around $20 for a pack of antibiotics (12 doses), while six-days’ worth of cold medicine, such as Coldrex or Frenadol, costs $6 on average.
What Is the Average Childcare Cost in Atlanta?
The average cost of full-time daycare in Atlanta is $1,700 per month, including daycare centers and home daycare. This works out to around $20,000 each year — more than college tuition. However, there is a childcare tax credit available to low-income families that meet the criteria.
Preschool monthly fees in Atlanta average at about $1,200 as well, although they can be as low as $830 or as high as $1,670. If you’re considering a private primary school, expect to pay between $12,000 and $30,000 per year.
Food
Atlanta has a buzzing food scene with various local and ethnic classics served up on restaurant plates across the city. Some Southern classics include barbecue, fried chicken and burgers, as well as fried pies. In particular, Buford Highway is home to a wide array of ethnic restaurants and food stands featuring tastes and flavors from almost every corner of the globe, including Korea, Latin America and Southeast Asia. To wash it all down, sweet iced tea is the perfect refresher on a hot Southern day.
You’ll also find all the usual grocery stores in the city, as well as several bustling local markets providing fresh, local produce to use at home.
How Much Does It Cost to Dine Out in Atlanta?
Eating out in Atlanta isn’t overly expensive. Expect to pay around $50 to $180 for a three-course meal for two in a mid-range restaurant, while a typical meal for two in a neighborhood joint will cost about $65.
A basic lunchtime menu with a drink generally costs around $15, while a combo meal in a fast-food joint is about $8. A regular coffee in a cafe or restaurant will average at approximately $5, while a small water bottle should be about $2.
What Is the Cost of Food in Atlanta, at the Grocery Store?
Grocery prices are affordable in Atlanta, although market prices might be slightly higher than standard grocery stores. In general, expect to pay around $3 for a loaf of fresh white bread, $2 for a dozen eggs, $5 for a pound of chicken fillets and about $3 for a gallon of milk.
A pound of common fruit and vegetables — such as onions, potatoes, apples, bananas and tomatoes — will typically cost between $2 and $6. Finally, a 1.5-liter bottle of water is around $2 on average.
Shopping
Atlanta is home to many exciting shopping districts providing everything from boutique stores to global brands. Here, you’ll find malls and strip malls throughout both the city proper and the metropolitan area, as well as several unique shopping districts.
For art and antiques, you can find a great variety of stores in the Bennet Street District, while Little Five Points is the place to go for trendy clothing and alternative attire. When it comes to high-end brands, Phipps Plaza is the place to be.
What Is the Average Cost of Clothing in Atlanta?
In Atlanta, expect to pay a bit over $50 for a pair of new jeans and about $45 for a new summer dress. Running shoes and sneakers typically work out to around $100, while a pair of leather business shoes should be around $110.
How Much Do Personal Care Products Cost in Atlanta?
Staying fresh is relatively affordable in Atlanta. Specifically, a bottle of shampoo is about $4, while a roll-on deodorant will be around $3. Expect to pay $5 for four rolls of toilet paper and $2 for a tube of toothpaste. A trip to the barbershop will generally cost $25 for a standard men’s haircut in Atlanta.
Leisure
Boasting fantastic sunny weather for much of the year and around 340 parks, there’s always something to do outside in Atlanta. In fact, around 72% of Atlantans live within a 10-minute walk of a park — each of which is filled with things to see and do, including sculptures, art, picnic areas, playgrounds and more. There’s also the stunning Botanical Garden, capturing everything from deserts and rainforests to woodlands and a Japanese garden.
With a rich arts and cultural scene, you can also find an array of galleries, live concert venues, museums, theaters and opera houses. Atlanta also hosts a ton of festivals.
What Is the Cost of Entertainment in Atlanta?
If you’re looking to catch a play, musical or some live music in Atlanta, you can expect two tickets to cost slightly more than $240 for the best seats in the house. Alternatively, two tickets to the movies should be around $30.
Meanwhile, if you’re planning to take in some of Atlanta’s iconic attractions, entry to the fantastic Fernbank Museum costs $25 for adults and $23 for kids. Alternatively, you can seek out the secret recipe for Coca-Cola at the World of Coca-Cola, where tickets cost $19 for adults and $15 for kids.
How Much Is a Gym Membership in Atlanta?
On average, expect to pay about $60 per month for a gym membership in Atlanta. Tennis is another popular pastime here, with several courts dotted throughout the city, and it generally costs around $17 to rent one for an hour. The Zonolite Trail is also a great place to enjoy a 1.5-mile hike through beautiful wetlands and creeks.
Methodology
The information in this article was compiled using data from the following sources:
- Atlanta Realtors and Georgia MLS for homes prices
- RENTCafé for rent stats
- Point2Homes Atlanta Demographics page for housing costs and household incomes
- Numbeo and Expatistan for utility costs, transportation costs, healthcare and childcare spending, food, shopping and leisure expenses, home prices, mortgage interest rates and wages
- Data USA for income, tax and commute data
- SmartAsset for tax information
- TOOTRiS for childcare costs
- NerdWallet for healthcare costs
- Parkopedia for parking costs