Cost of living in Rainbow City, Alabama
Cost of living compared to USAlow
Cost of living compared to Alabamalow
Median household incomelow
Is it expensive to live in Rainbow City, Alabama? When calculating the cost of living in Rainbow City, Alabama we factor in state income tax rates, average housing rental prices, average property values, cost of living index, and more.
The cost of living in Rainbow City, Alabama is lowAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and lowAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in Alabama, while median household income in Rainbow City is $48,644 which is low Analytics 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.
Taxes in Rainbow City, Alabama
The sales tax rate in Rainbow City, Alabama is 10.0%. Last year, the average property taxes paid was 0.4% Rainbow City, Alabama.
Here is the table with the State Income Taxes in the state of Alabama:
State Income Tax Brackets (Single):
| Income Bracket Threshold | Income Bracket Ceiling | Alabama Income Tax Rate |
|---|---|---|
| $0 | $500 | 2.0% |
| $500 | $3,000 | 4.0% |
| $3,000 | $9,999,999 | 5.0% |
State Income Tax Brackets (Married):
| Income Bracket Threshold | Income Bracket Ceiling | Alabama Income Tax Rate |
|---|---|---|
| $0 | $1,000 | 2.0% |
| $1,000 | $6,000 | 4.0% |
| $6,000 | $9,999,999 | 5.0% |
Housing costs in Rainbow City, Alabama
The average cost of a single-family home compared to USAlow
The average cost of a single-family home compared to Alabamamoderate
In Rainbow City, Alabama, 63.0% of the population owns their homes, while approximately 37.0% rent. The average cost of a single-family home in Rainbow City, Alabama in 2022 is $171,630 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. The average one-bedroom apartment cost is approximately $666 per month.
| Rental Size | Monthly Cost | Compared to Alabama |
|---|---|---|
| 1 Bedroom | $666 | lowAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest |
| 2 Bedroom | $781 | the lowestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest |
| 3 Bedroom | $991 | the lowestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest |
| 4 Bedroom | $1,050 | the lowestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest |
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