If you are planning to retire in Dunwoody, GA and are pondering if it is an expensive place to live in, we will help you to break down the cost of living in Dunwoody, GA in this article. We will provide the answers to several questions that can help you make a well-informed decision on whether or not the city can meet your personal lifestyle needs while still being within your financial means.
Is Dunwoody, GA Expensive to Live in?
Dunwoody is part of the metro area of Atlanta-Sandy Springs-Roswell Metro. The city is ranked 76 out of 273 cities throughout the United States in terms of cost of living. According to the Council for Community and Economic Research, Dunwoody’s cost of living is estimated to be 101.6% of the national average which makes it an average U.S. city. You can expect total monthly expenditure that varies depending on the cost of food, housing, transportation, utilities, healthcare, and other miscellaneous goods and services. Do take note that your household composition and status of homeownership may also affect your monthly expenses.
Livable Salary in Dunwoody, GA
The median household income in a city can most definitely help gauge the cost of living. For Dunwoody, GA, its median household income is $96,057 which is 63% higher than that of the state. For individual median income in Dunwoody, GA, it is $63,324 which is 93% higher than that of the state. The minimum salary you need to live in Dunwoody is your total daily expenses, your monthly housing-related costs, any debts, and your overall savings and investments. When you understand the costs to be expected in Dunwoody, GA, you can determine whether your salary is considered a livable salary. Once you know the typical cost of housing in Dunwoody, GA, you can use simple rules that are widely followed to find out if you can afford it with your salary. A good rule of thumb to fall back on is the 28% rule which translates to your rent or mortgage, property taxes, and insurance should not be higher than 28% of your gross income.
Average Rent in Dunwoody, GA
Housing generally takes up the biggest portion of your salary. The average rent in the metro area of Dunwoody, GA for a 2-bedroom home is approximately $1,248. This is 6% higher than the average rent across the country. However, this average also factors in both suburban and metro areas. The costs may go down or up based on which neighborhood you eventually reside in.
Median Home Price in Dunwoody, GA
The median home price in Dunwoody, GA is $500,320 with the median price per sq ft being $240. The cost of housing in Dunwoody, GA is estimated to be 105% of the national average as projected by the cost of living index for housing. This again, makes Dunwoody, GA an average U.S. city.
Retiring at TerraBella Roswell
Retiring in a retirement community allows you to consolidate all your monthly expenses. Your rental will cover accommodation, meals, transportation, amenities, and care services. Schedule a tour of TerraBella Roswell to learn more about your options.