Cost of Living in Atlanta: What Renters Need to Know in 2024

Welcome to Atlanta: home to high rises, world-renowned attractions, and sweet southern hospitality. Whether you’re moving to Atlanta for the first time or are well acquainted with this city, you’ve likely weighed the costs of living in such a coveted location. Understanding how living expenses vary from city to city is crucial to planning your budget during a move, as well as understanding how suitable a town is for your lifestyle. By exploring the various aspects of Atlanta's cost of living, you'll gain valuable insights to help you navigate this city (and your finances) like a pro. 

Cost of Living in Atlanta 

How much does it cost to live in Atlanta? Compared to the national average, Atlanta, GA’s cost of living is 2% more expensive - slightly higher, though not as steep as some other major cities. This balance makes Atlanta an attractive option for many, without the large price tag associated with locations like New York or San Francisco. Compared to the rest of Georgia, Atlanta is pricier, which is to be expected given its status as the state’s economic and cultural hub. 

Is Atlanta Expensive? 

Atlanta’s affordability depends on your income and what standard of living you’re hoping to maintain. If you’re moving from a city with a lower cost of living, you may find it difficult to get as much for your money in a new location. For example, a $50,000 salary will not go as far in Atlanta as in other cities. If Atlanta’s cost of living is over 20% more expensive than your current location, you’d need to make $10,000 more to maintain the same lifestyle. 

Atlanta Housing Prices 

Housing is one of the most significant factors in Atlanta's cost of living. Overall, the price of living in Atlanta is 8% more expensive than the national average: 

• The average rent for a one-bedroom apartment in Atlanta is $1,563, compared to the national average of $1,516 

• The median home price in Atlanta is $418,000, compared to the national average of $407,000. 

Meanwhile, Atlanta's median household income is just over $83,000 according to census data, meaning that rent sits comfortably under 30% of most residents’ monthly income.  

Where Is Rent Lowest in Atlanta? 

On the hunt for the most affordable areas in the city of Atlanta? If you’re willing to put in the time and learn the tips, you can save some serious money. Not all Atlanta neighborhoods are equally expensive. For example, South Fulton, North Druid Hills, and Westside Atlanta all offer an average rent significantly below the city average. Know how to spot an affordable area in the city.  

• Check for high vacancy rates: The more available rentals in a given area, the more inclined property managers are to fill units! Think about it – a higher supply of rentals in a city means property owners are competing with other communities to fill spots. Because of this, you might find lower rents as apartments try to offer the most competitive price.  

• Search for rent concessions: As apartments compete to fill spots, you might also come across promotional deals known as rent concessions. These concessions can include reduced rates, a month or two of free rent, or a waived security deposit. Usually, rent concessions are time-sensitive, so make sure to read the fine print as you look for deals.  

• Look just outside of the city: As you get closer to Atlanta’s center, rents tend to skyrocket. The nearer you are to top attractions and activities, the more you’ll typically pay. If being within walking distance to the Georgia Aquarium is not a top priority, consider looking outside of the perimeter (OTP, in Atlanta speak) or in nearby cities. Locations like Decatur, Dunwoody, or Smyrna are all a short commute from Downtown Atlanta and offer more affordable rent prices, too! 

Utility Costs in Atlanta 

Despite its reputation for pricy housing, Atlanta utilities are actually 14% less expensive than the national average. Residents should expect to pay the following: 

These costs can fluctuate based on usage, season, and service providers, but they generally don't exceed what most Americans pay. 

How to Save on Atlanta Utilities 

Although there aren’t too many corners to cut regarding utilities when you rent (especially in the South’s sweltering summer), there are small actions you can take to save a dollar here and there. Switch to energy-efficient lightbulbs and unplug your appliances when they’re not in use. Change your air filters to reduce the strain on your AC. Consider a cold-water detergent and run your washing machine on “cool” to save energy. Small changes can save in the long run.  

Atlanta Transportation 

Transportation in Atlanta includes a mix of driving and public transit options. Overall, transportation is 3% more expensive than the national average.  

• The average cost for a gallon of gas in Atlanta is $3.48, compared to the ever-fluctuating US average of $3.78 per gallon.  (Averages are current as of this publication date. Check back next week for another round of gas price roulette).  

• The average transit fare is $2.50 for a one-way trip, or up to $95/month for a 30-day pass. 

The city is renowned for its heavy traffic, making commute times a consideration for anyone living or working here. The MARTA system provides a reliable alternative to driving, with fares that compete with other major cities.  

Groceries in Atlanta 

When it comes to food and groceries, Atlanta offers a wide range of options. Groceries in Atlanta cost 7% less than the national average - surprising, considering the city’s culinary reputation. Obviously, you’ll pay according to where you shop, but prices are slightly lower than what you’ll find in other major metros. Average prices of grocery essentials include: 

Healthcare Costs in Atlanta 

Healthcare prices in Atlanta vary by provider and insurance coverage, but the overall cost is 7% higher than the national average. The average Atlanta health insurance premium costs around $590/month, compared to the national average of $477/month.

While you may be inclined to hedge your bets and wash your hands, keep in mind that an out-of-pocket doctor’s visit in Atlanta costs around $130 (around $125 nationally) per appointment, and that’s just routine care. Atlanta residents may also consider dental insurance, as the dentist costs around $115 per visit.

What Is Cost of Living? 

The cost of living is essentially a measurement of how much money you need to maintain a certain lifestyle in a specific location. It considers various expenses such as housing, transportation, groceries, utilities, and healthcare. Cost of living can also help renters compare one city’s affordability to another. Understanding cost of living can help renters determine if they can afford a comfortable lifestyle in a new city and what kind of salary they’ll need to do so.  

The Cost of Living Index Explained 

The cost of living index provides a standardized way of comparing the relative prices of goods and services across different cities. Pricing data is collected from each participating location and then turned into a composite score to reflect a cost of living specific to each city. This number can vary significantly from one city to another. The national average is set at 100, so a higher index means a higher cost of living compared to the national average. A city with a cost of living index of 120, for example, would be 20% more expensive than the national average.  

How Is Cost of Living Determined? 

Determining the cost of living involves considering the price of six main categories: 

• Housing (rent or mortgage) 

• Transportation expenses (public transit and car maintenance) 

• Food (specifically groceries) 

• Utilities (like electricity, water, and internet) 

• Healthcare costs (including insurance premiums and medical visits) 

• General goods and services (clothing, toiletries, etc.) 

The prices of these goods or services are calculated specifically by location and give an insight into what a renter can expect to spend on a regular basis. 

Ready to Make the Move?

After understanding of the cost of living in Atlanta, you're better equipped to make an informed decision about your move. Whether you're drawn by the southern culture, thriving job market, or the diverse neighborhoods, Atlanta has something to offer everyone.

Don't wait—explore our extensive listings on Apartments.com to find the perfect home that fits your budget and lifestyle. Start your new adventure in Atlanta today!

*Regional and national statistics sourced from PayScale and the U.S. Bureau of Labor Statistics.