Cost of Living in Auburn, AL

An Overview of Cost of Living in Auburn, AL

Understanding the cost of living in Auburn can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Auburn cost of living index is 108, which is 8% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Everyday expenditures like food, housing, goods and services, transportation and health care in Auburn are priced in a manner consistent with other areas. This means that residents of Auburn can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

When it comes to the cost of living in Auburn, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 30.5% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Auburn?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 11 locals to understand their opinions on the cost of living in Auburn. The results indicated that 27% found it reasonably priced with decreasing prices of goods and services, while 73% viewed it as quite expensive, with increasing prices.

Is Auburn Affordable?

Is Auburn an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Auburn is 46.4% higher than the national average, while the average monthly rent prices are 6.5% lower than average. The affordability of any location can also be influenced by median income levels. Auburn has a median household income of $49,028, which is 11.4% lower than the national average.

What Factors can Influence the Cost of Living in Auburn?

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Auburn, the utilities index registers 10.3% higher than the national average.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Auburn, the transportation index stands at 8.4% lower than the national average.

Where is the Data From?

The Auburn cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.