A-
1%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
3%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Georgetown Georgia National
Cost of living9993100
Goods & Services9897100
Groceries10298100
Health care109100100
Housing10386100
Transportation9694100
Utilities9086100

An Overview of Cost of Living in Georgetown, GA

The cost of living in Georgetown affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Georgetown is 99, which is 1% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Georgetown closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Georgetown can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Is Georgetown Affordable?

Wondering if Georgetown is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Georgetown, for example, the median home price is 1.5% lower than what folks pay nationally, and monthly rent is 12.2% higher than the usual rates. Plus, income levels matter too, with Georgetown boasting a median household income of $61,523, which is 11.2% higher than the national average.

What Factors can Influence the Cost of Living in Georgetown?

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Georgetown, the prevailing sales tax rate starts at 4%, and income tax rates kick off at 1%.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Georgetown, the housing index stands at 2.6% higher than the national average.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Where is the Data From?

The cost of living data in Georgetown displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Georgetown is 7% higher than the Georgia average
  • The cost of living in Georgetown is 1% lower than the national average
  • Georgetown housing is 3% higher than the national average
  • Georgia general sales tax is 22% lower than the national average
  • Georgia state income tax is 61% lower than the national average

Most Affordable Places to Live in and Around Georgetown

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Compare Georgetown, GA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$85,809$7,151$2,002$2,575
      Renters$47,993$3,999$1,120$1,440
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Georgetown, GA, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Georgetown homeowners, is $85,809. This would allow for a maximum of $2,002 per month to be spent on housing costs. For renters, the median monthly income is $47,993 which would result in a maximum of $1,120 to be spent on rental costs.

      Georgia Sales Tax

      State General Sales Tax With Max Surtax
      Georgia 4% 8%

      Georgia Income Tax

      State Income Tax (Low) Income Tax (High)
      Georgia 1% 5.57%

      Goods & Services

      Item Georgetown National avg. Difference
      Haircut $23.25$24.264.2%
      Beauty Salon $38.33$45.5615.9%
      Toothpaste $3.66$3.701.1%
      Shampoo $1.30$1.281.8%
      Movie $12.10$12.130.3%
      Bowling $22.40$18.0024.4%

      Groceries

      Item Georgetown National avg. Difference
      Ground Beef $6.23$5.846.7%
      Fried Chicken $1.46$1.577.4%
      Milk $4.75$4.671.7%
      Potatoes $5.33$4.938.0%
      Pizza $14.38$12.0919.0%
      Beer $10.13$10.412.7%

      Health Care

      Item Georgetown National avg. Difference
      Optometrist $93.17$125.6825.9%
      Doctor $135.16$135.780.5%
      Dentist $142.17$113.2925.5%
      Ibuprofen $10.63$10.650.2%
      Lipitor $518.07$468.6010.6%

      Housing

      Item Georgetown National avg. Difference
      Home Price $181,900.00$184,700.001.5%
      Avg. Mortgage Payment $1,681.21$2,346.6928.4%
      Apartment Rent $1,065.00$949.0012.2%

      Transportation

      Item Georgetown National avg. Difference
      Gasoline $3.33$3.463.6%
      Tire Balancing $57.68$59.923.7%

      Utilities

      Item Georgetown National avg. Difference
      All Electricity $163.38$193.9915.8%
      Phone $188.43$192.252.0%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Garden City, GA8,957928.1%
      Bloomingdale, GA2,801936.7%
      Midway, GA2,075963.8%
      Savannah, GA145,492973.0%
      Port Wentworth, GA8,8861022.2%
      Georgetown, GA12,545990.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Middleburg, FL12,544946.4%
      Vinings, GA12,54613838.0%
      Gulf Shores, AL12,5501066.3%
      St. Andrews, MB12,535n/a 
      Leeds, AL12,555964.4%
      Georgetown, GA12,545990.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.