Cost of Living in Russell, Georgia
Russell is a Census-designated place in Barrow County, Georgia, with a population of 1,229. The total cost of housing, food, child care, transportation, health care, taxes, and other necessities for a single adult in Russell is $40,211 a year — greater than the annual cost of living for Georgia of $38,488 and greater than the national figure of $38,433.
Using cost of living data from the nonprofift think tank Economic Policy Institute, 24/7 Wall St. estimated the cost of living in Russell and over 29,000 other cities and towns in the US.
Housing Costs in Russell, Georgia
Housing is one of the largest components of cost of living. In Russell, the median home value is $85,500, less than the national median home value of $204,900.
Renting is a sometimes lower cost alternative to homeownership. In Russell, some 45.90% of occupied homes are rented, greater than the 36.2% national renter rate. The typical renter in Russell spends $829 a month on housing, greater than the $1,023 national median monthly rent.
In addition to home value, one of the largest determinants of housing affordability is area income. While nationwide the price of a typical U.S. home is 3.4 times the $60,293 U.S. median household income, housing affordability ratios range from approximately 1.0 in the least expensive cities to more than 10.0 in the country's most expensive markets. In Russell, the median household income is $31,250, 2.7 times the median home value.
Transportation Costs in Russell, Georgia
Transportation can also be a significant component of cost of living. In Russell, 94.30% of commuters drive to work, compared to 85.5% of commuters nationwide. An estimated 100.00% of workers commute to jobs outside of Russell, a larger share than the 43.7% share of commuters nationwide who live and work in different cities. The average commute in Russell is 27 minutes long, compared to the 26.6-minute average commute nationwide. Taking into account the cost of gas, as well as public transit and car maintenance, the EPI estimates that a single person in Russell spends $11,182 a year on transportation, more than the national average of $9,760.
Health Care Costs in Russell, Georgia
Out-of-pocket health care costs and insurance premiums — assuming at least a basic level of health insurance coverage — are slightly lower than they are on average nationwide in Russell and also well below what they are across Georgia as a whole.
For a single adult living in the area, average health care costs come out to $3,728 per year, compared to an average of $4,352 across Georgia and $4,266 nationwide.
Child care Costs in Russell, Georgia
For families with children, child care adds thousands of dollars to overall annual spending. In Russell, the average annual cost of child care for two children — one 4 year old and one 8 year old — is $11,149, about $500 more than the comparable average of $10,670 across all of Georgia. Meanwhile, across the U.S. as a whole, childcare expenses for two children averages $15,853 per year.
Food Costs in Russell, Georgia
In Russell, a single adult spends an average of $3,027 on food annually, and a family of four spends $8,743 on average. For context, average annual food expenditure across Georgia and the U.S., respectively, are $3,156 and $3,240 for a single adult, and $9,115 and $9,354 for a family of four. These estimates are calculated for a nutritionally adequate diet of food purchased at a grocery store for at-home preparation.
Taxes in Russell, Georgia
Few expenses vary as much from city to city and town to town as taxes. Accounting for state and federal income taxes, as well as Social Security contributions and Medicare payroll taxes, the average adult working in Russell, Georgia pays $7,403 annually — closely in line with the statewide average of $7,010.
It is important to note that these calculations do not include other common taxes such as property, sales, and excise taxes. Accounting for these taxes, while excluding taxes levied at the federal level, Russell residents live in a state with a low average tax burden. Per capita state tax collections in Georgia total $2,244 per year, compared to the $3,151 average across all states.
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