muscle shoals cost of living

The annual event, named in honor of W.C.

Expect to pay more for groceries if youre living in a larger urban city like Huntsville versus a smaller city like Decatur. Using cost of living data from the nonprofift think tank Economic Policy Institute, 24/7 Wall St. estimated the cost of living in Muscle Shoals and over 29,000 other cities and towns in the US. internet only or TV and internet). Its hard to go wrong if youre looking to settle down without paying an arm and a leg. The Shoals area includes Lauderdale and Colbert Counties, both of which make up the U.S. Census designated Florence-Muscle Shoals MSA. These estimates are calculated for a nutritionally adequate diet of food purchased at a grocery store for at-home preparation. However bear in mind that these expenses will vary depending on where you live within Alabama. Weve broken out some common utility costs below. The festival is 7 full days each year in June filled with historical tours, entertainment,artsand crafts. This is good news for anyone whos thinking of moving to Alabama, as MERICs 2021 Cost of Living Index actually ranked Alabama as having the 4th lowest cost of living in the United States. Keller Kids(a free all-day program for 4th, 5thand 6thgraders teaching them about living with and overcoming disabilities), Kids on Commons(a free event featuring activities such as childrens arts and crafts booths, face painting, balloons, inflatables, games, etc. Muscle Shoals is a city in Colbert County, Alabama, with a population of 13,874. The Bureau of Economic Analysis cites that the average cost of living in Alabama is around $35,859 per year for a typical single individual. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. With some of the best college football legacies in the nation, its delicious southern cuisines, or the fact that Mobile, Alabama was actually the site of the first celebration of Mardis Gras, its not surprising why Alabamans are so proud to hail from the Heart of Dixie. This contention plays out between neighbors, coworkers, and even within families. Per capita state tax collections in Alabama total $2,262 per year, compared to the $3,151 average across all states. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, years of professional experience, income, and a variety of other factors. Members get 10% off their trust, will, or guardianship estate plans. Earn points for making moves toward financial independenceevery step of the way. Its top marginal tax rate isnt too bad, especially when stacked against other southern states like South Carolina and West Virginia, which have top marginal tax rates of 7% and 6.5%, respectively. Terms, conditions, and state restrictions apply. The federal minimum wage is $7.25 per hour while Alabama's state law sets the minimum wage rate at $7.25 per hour in 2022. The area known as The Shoals is located along the Tennessee River in Northwest Alabama. The fireworks show is one of the largest in the Tennessee Valley. Costs are dropping at a rapid rate. Learn more, 2750 East Cottonwood Parkway #300 Cost of Living The Shoals area continues to have one of the lowest costs of living among all of MSAs in the U.S. The exact monthly tally will depend on your property, utility usage habits, and the type of services you choose (e.g. The major metropolitan areas of Huntsville, Birmingham, Nashville, Memphis, and Atlanta are all within easy driving distance of the Shoals. Thousands of people gather each year to enjoy live music from some of the biggest names in the music business, family fun, and various other activities. The average annual pay in Muscle Shoals is $42,215.00, which is $2,617.00 lower than the salary average in Alabama and lower than the U.S. average yearly wages by $11,406.00.

Food is another every day expense that has a significant impact on overall cost of living.

The event includes the"Largest Organized Motorcycle Ride in the South", with as many as 10,000 participants in this historic event to honor the many Native Americans who perished and sufferedas a result of the Indian Removal Act of 1830. Here is the table with the State Income Taxes in the state of Alabama: In Muscle Shoals, Alabama, 76% of the population owns their homes, while approximately 24% rent. SoFi Mortgages Just want to talk? Some of the favorite events of the Festival include Handy Nights at local restaurants and outdoor concerts at parks throughout the Shoals. The University of Alabama-Auburn University rivalry is one of the most heated rivalries in American football, and this matchup plays out every year at the annual Iron Bowl. set you up for success with your money, The annual event, named in honor of W.C. One of the things that continues to draw in new residents is no doubt Alabamas affordable cost of living. Because the. For places that span multiple counties, data was aggregated based on the percentage of boundary overlap. Alabama has a graduated-rate income tax structure where the highest tax bracket is assessed at a 5% marginal tax rate, according to the Tax Foundations State Individual Income Tax Rates and Brackets for 2021 . Depending on your personal tastes and income, a comfortable life in Alabama is more within reach than you may think. Local property taxes are low, as well as the state personal income tax. Out-of-pocket health care costs and insurance premiums assuming at least a basic level of health insurance coverage are slightly higher than they are on average nationwide in Muscle Shoals but below what they are across Alabama as a whole. In Muscle Shoals, the average annual cost of child care for two children one 4 year old and one 8 year old is $12,700, about $200 less than the comparable average of $12,931 across all of Alabama. Hiking Shoal Creek Preserve, fishing and water sports on Wheeler, Wilson, and Pickwick lakes, golfing the 36 hole Robert Trent Jones Shoals, or kayaking Cypress or Shoals creeks are just a few of the adventures awaiting the outdoor enthusiast.

Arts & crafts, wandering minstrels, magicians, and chamber singers are also part of the festivities, as you step back in time. Arts Alive is a family event, and families flock to the Park to participate! Alabamans can shop for health insurance providers using the federal insurance marketplace, healthcare.gov . The major urban center of the Florence-Muscle Shoals MSA, commonly referred to as the quad cities, includes the cities of Muscle Shoals, Sheffield, Tuscumbia, and Florence. An estimated 60.80% of workers commute to jobs outside of Muscle Shoals, a larger share than the 43.7% share of commuters nationwide who live and work in different cities. Increasing rapidly. Home prices and rental costs vary widely depending on where you live. Goods, services and housing are all very affordable. When calculating your monthly budget, dont forget to factor in other costs like utilities, taxes, and maintenance in addition to your monthly mortgage payment. While healthcare costs can vary depending on your age, health history, and location, you can minimize your expenses by shopping policies across multiple insurance providers. SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC), and by SoFi Lending Corp. NMLS #1121636 , a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law (License # 6054612) and by other states. Weve broken down estimates of these costs as calculated by MITs Living Wage Calculator . Participants dress in authentic, period costumes. A hot summer is usually followed by cooler temperatures during the winter months when heating expenses may be low. The city is surrounded by scenic views and woodlands. Gallon of Milos Famous Sweet Tea: $2.98, Tickets to the Iron Bowl: $236 to $1,422, Adult tickets to the U.S. Space and & Rocket Center: $25. Meanwhile, across the U.S. as a whole, childcare expenses for two children averages $15,853 per year. Average Grocery & Food Costs in Alabama: $260.50 per person, per month. 24/7 Wall St. has published detailed cost of living analysis for all 50 states and over 29,000 cities across the country.

The Shoals offers revitalized downtown areas with great shopping, fabulous restaurants, music and nightlife. Some events require admission, but most are free.

Accounting for these taxes, while excluding taxes levied at the federal level, Muscle Shoals residents live in a state with a low average tax burden. However, the one defining feature of Alabama is football. What are the Average Monthly Expenses for One Person? The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Muscle Shoals, AL, as well as what the overall cost of living might be. Weve broken down the major costs of living into five key categories to help paint a picture of what annual expenses look like in Alabama. In Muscle Shoals, some 24.20% of occupied homes are rented, less than the 36.2% national renter rate. Architecture critic Peter Blake wrote in 1960 that during the 1930s, Wright built four structures of a beauty unexcelled in America before or since. Three of those are Fallingwater, the Johnson Wax Administrative Building, and Taliesin West. Average Transportation Costs in Alabama: $5,113 to $13,896 per year, If youre planning to drive through the Land of Dixie, youll want to keep an eye on your transportation costs. Within the Southeast, Alabama has the second-lowest healthcare costs, with only South Carolina coming in cheaper. 2022 Shoals Economic Development Authority. Last year, the average property taxes paid was 0.4% Muscle Shoals, Alabama. See SoFi.com/eligibility for more information. The Shoals currently has a C2ER cost of living index of 88.1 and is one of the lowest among its size in the State of Alabama. You'll have to take out a loan to live here. Depending on the type of care you need, childcare can cost thousands of dollars a month. Northwest Alabama Regional Airport serves the Shoals region, located in the northwest section of the state. The Southeast region of the United States pays the third-lowest healthcare costs of any region in America after the Southwestern and Rocky Mountain states. Automatically get personalized recommendations on where to move. Average Child Care Costs in Alabama: $813 to $1,031 per child, per month. Alabamas collection of beautiful woodlands and gulf shores certainly doesnt cost anything to visit; its one of those unique states where individuals can hike the Appalachian trail and enjoy sandy coastal beaches within the same day. It is the largest ofall ofthe area festivals. This can be especially unforgiving for younger families where both spouses have to work. Pope's Tavern Museum is located at the corner of Hermitage Drive and Seminary Street. Below are the typical 2021 home prices for major cities in Alabama, according to Zillow. The only other Southeastern state to beat Alabama on that list was Mississippi. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. View future changes in the minimum wage in your location by visiting, If you move from Chicago IL, Dallas, TX, or Miami, FL, the percent increase of your, If you move from New York, NY, San Francisco, CA, or Washington, DC, the percent reduction of your. Not registered? Learn more about our mission and values, how we started, and what weve accomplished since then. Read through the latest SoFi news coverage. In Muscle Shoals, the median home value is $143,100, less than the national median home value of $204,900. If you need help paying for childcare costs, the Alabama Department of Human Resources lets eligible families apply for Subsidized Day Care Services. The festival is 7 full days each year in June filled with historical tours, entertainment, arts and crafts. If the money you save doesnt go directly to game tickets, you might find Alabama to be an affordable place to live and raise a family. The cost of living in Muscle Shoals, Alabama (AL) is lower than the average cost of living in the state of Alabama and lower than the nationwide city average. Poor. While the amount you need to live comfortably will vary based on your lifestyle, MITs Living Wage Calculator cites that the typical single Alabaman will need to earn $13.77 an hour, or $28,642 per year, to qualify for a living wage in the state. In Muscle Shoals, 96.20% of commuters drive to work, compared to 85.5% of commuters nationwide. We recommend that you review the privacy policy of the site you are entering. to exclusive benefits designed to help The cost of living in Muscle Shoals, Alabama is the lowestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and the lowestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in Alabama, while median household income in Muscle Shoals is $60,629 which is high Analytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in Alabama. Arts Alive attracts hundreds of art and craft lovers from a three-state region and beyond. It has the lowest housing costs of any major cities in Alabama according to the CCERs 2021 data. Increasing steadily. To help you compare the cost of living across different cities in Alabama, weve displayed the three cities with the lowest cost of living in the State. Average Annual Per-Capita Cost in Alabama, Average Housing Costs in Alabama: $562 to $1,186 per month. Admission is free.

When we get comments from people on Pros and Cons of living in Muscle Shoals, Alabama, we publish them here. Information for investors in SOFI common stock. Held annually on July 4th at McFarland Park in Florence. Data from the U.S. Department of Agriculture shows that the cost of food varies from city to city and town to town. If you got a letter stating that youre pre-selected for a SoFi loan, youre in the right place. The fourth was the Usonian prototype of which the Rosenbaum House is one of the purest examples. 6054612. Housing is one of the largest components of cost of living. The city ranked well because it had the lowest healthcare costs of Alabamas major cities. In 2017, the Festival moved to the historic Shoals Theatre in downtown Florence and was renamed The Shoals Storytelling Festival. Everything is more expensive than I'd like. Keller Kids(a free all-day program for 4th, 5thand 6thgraders teaching them about living with and overcoming disabilities), Kids on Commons(a free event featuring activities such as childrens arts and crafts booths, face painting, balloons, inflatables, games, etc. The Celebration includes dulcimer music and educational demonstrations of arts and crafts by artisans in costume. Handy, Alabama's "Father of the Blues", features blues, jazz, and gospel music, educational events, coordinated art shows, athletic events, street parties, great food, and much more. 20 Hightower Place, Suite 1Florence, AL 35630P 256.349.5632E info@shoalseda.com. Handy, Alabama's "Father of the Blues", features blues, jazz, and gospel music, educational events, coordinated art shows, athletic events, street parties, great food, and much more. When it comes to costs, Alabama doesnt do half bad, as U.S. News & World Reports Affordability Rankings ranked Alabama the 18th most affordable state in the union. The sales tax rate in Muscle Shoals, Alabama is 9%. Originally an iron town founded in 1872, Anniston sits at the foothills of the Appalachian mountains on the cusp of the Talladega National Forest. ), athletic events, car shows and much, much more. FAME Studios and Muscle Shoals Sound Studio were the recording spaces for many hit songs from artists like the Rolling Stones, Bob Dylan, Aretha Franklin, Percy Sledge, and Carrie Underwood. Home Value - Alabama and The Shoals boast some of the best value for homes in the U.S. ), athletic events, car shows and much, much more. Whether Tiger or Crimson Tide, theres no doubt that Alabamans are intensely proud of their state. The Shoals EDA serves as the areas lead organization to design and implement strategies that create new business and employment opportunities essential for sustainable economic growth. Links are provided for informational purposes and should not be viewed as an endorsement. The average cost of a single-family home in Muscle Shoals, Alabama in 2021 is $113,964 which is lowAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and moderateAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in Alabama. In Muscle Shoals, homeowners have a median income of $61,176. Alabamas ranks continue to grow, as its population has risen by 5.1% since 2010 and now numbers over 5,000,000 residents. Average Utility Costs in Alabama: $400.01 per month. Alabamas grocery and food costs are fairly cheap when compared to the rest of the nation; this is fairly typical of Southeastern states in general, with the exception of Virginia and North Carolina where groceries costs are above the national average. The median price of a home built in 1939 or earlier is $66,000, while the median value of a home built in 2014 or later is $156,000. 2022 Social Finance, Inc. All rights reserved. The average commute in Muscle Shoals is 19.9 minutes long, compared to the 26.6-minute average commute nationwide. Sources: U.S. Energy Information Administration, Electric Sales, Revenue, and Average Price, 2021; Inspirecleanenergy.com; DoxoInsights, U.S. Cable & Internet Market Size and Household Spending Report 2021; and Rentcafe.com, What Is the Average Water Bill?

Alabamians can expect to pay a total of $400.01 per month on their utility bills. Fortunately, Alabama happens to have the second-lowest childcare costs in the country, according to the Economic Policy Institute. Alabama certainly has its vibes. Is it expensive to live in Muscle Shoals, Alabama? Using that number, a maximum of $1,427 per month should be allocated to housing expenses. Source: Wikipedia (as of 04/11/2019). To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. Demands for a living wage that is fair to workers have resulted in numerous location-based changes to minimum wage levels. Trail of Tears Remembrance Motorcycle Ride. Cottonwood Heights, Utah 84121, Terms and Conditions Apply. You are now leaving the SoFi website and entering a third-party website. This could contribute to higher energy costs during the summer based on your thermostat setting and preference for a cool indoor climate. Questions? Click here to see detailed analysis about crime in every state, Click here to see updated data about coronavirus in every state. Many of the crafts are available for sale. The Trail of Tears Remembrance Motorcycle Ride is held annually on the third Saturday of September. Not all products are available in all states. The obesity epidemic in the U.S. is a major health issue See a list of all available cities in Alabama by clicking here. The Shoals Storytelling Festival, listed as a Top Twenty Events in the Southeast, began in 2011 as the Front Porch Storytelling Festival, was originally hosted on the campus of the University of North Alabama (UNA) in Florence, a city on the banks of the Tennessee River in northwestern Alabama. The city is host to gorgeous views of the riverfront and is home to the University of North Alabama, the oldest collegiate institution in the state. Held the last full week of July throughout the Shoals. From the famous Trowbridge's sandwiches, the folksy Rivertown Coffee, the fine dining at Odette, to many ethnic dining spots, a businessperson in The Shoals can enjoy quality food perfect for chatting about business or refueling after a hard day's work. SOHL1021046, Stay up to date on the latest business news and stock

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