Tags: Retirement | retirement in georgia | cost of living

Retirement Cost of Living in Georgia

By    |   Wednesday, 10 Jun 2015 11:19 AM

If you're considering a retirement in Georgia, first consider the associated cost of living. You worked hard to save money for retirement. You want to make sure that that money goes as far as possible towards making your retirement enjoyable by choosing a retirement destination with a low cost of living.

Here are several things to consider:

1. Tax Burden
Georgia ranks 32 in the United States in terms of tax burden. This may be surprising to those who consider Georgia taxes to be extreme because they tax income. Alaska is an example of a state that does not tax income, but still has a higher tax burden than Georgia.

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2. Price of Homes
Homes in Georgia are more affordable that you might expect. The median home value in Georgia, according to Zillow, is $139,300, compared to the national average of $178,400. The average rent in Georgia is $1,100, compared to the national average of $1,550.

3. Cost of Travel
If you plan on traveling a lot during your retirement, make sure to consider proximity to an airport and the cost of flights at that airport. If you are close to Atlanta, you should have no problem securing cheap, convenient flights.

Hartsfield-Jackson Atlanta International Airport is a hub for Delta Air Lines and has been the world's busiest airport by passenger traffic and by planes taking off and landing since 1998. Unfortunately, after the Atlanta airport, your airport options are limited to small local airports with few destinations and high prices.

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If you plan to travel primarily by car, Georgia has the 24th lowest gas prices in the U.S., according to Gas Buddy.

4. Crime Rate

While crime rate my not initially seem like it has much impact on cost of living, consider the cost associated with security systems and gated communities. Also, consider the financial and emotional hardship caused by a robbery.

Georgia rates 15th nationally in terms of crime rate and Atlanta was recently ranked the sixth-most dangerous city in the U.S. in terms of violent crime. However, many Atlanta communities are exceptionally safe. In Johns Creek, a town of 80,000, there was not a single murder or rape last year and very few robberies.

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If you're considering a retirement in Georgia, first consider the associated cost of living. You worked hard to save money for retirement.
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2015-19-10
Wednesday, 10 Jun 2015 11:19 AM
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