Financial Profile: Alabama
Financial landscape, tax rates, cost of living, and median income scoring for Alabama residents.
Alabama at a Glance
Avg Salary
$52,000
Cost of Living
89
Top Tax Rate
5.0%
Adjusted Income
$58,426
Monthly Take-Home
$3,431
Max Rent (30%)
$1,299
Financial Genome at Median Income
Scores calculated for someone earning $52,000/yr in Alabama with typical expenses.
PPI
40
C
FPI
25
F
LRS
56
C+
REW
30
D
Living in Alabama: Financial Overview
Alabama has a graduated income tax with rates from 2% to 5%. Some cities also levy local income taxes.
- Low cost of living
- Growing tech hub in Huntsville
- Local taxes in some cities
Major Cities
Birmingham, Montgomery, Huntsville, Mobile
With a cost of living index of 89 (below the national average of 100), your dollar goes further in Alabama. A $60,000 salary here has the purchasing power equivalent of $67,415 in an average-cost area.
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