Cost of living (moving to Atlanta) (Roswell, Alpharetta: 2013, apartments, rentals)

[sraghav20]

Hi,

Would probably be moving to Atlanta (from outside US) in a couple of months time. Currently trying understand the city, costs, locations to live in etc...

Please help -

1. Budget => ?? dont know whats good enough...
2. House/Condo/Townhome? => prefer renting an apartment
3. Employment Status(commute/work from home) => commute... hopefully not long
4. Children(public school vs. private) => 2 kids, 1 elementary school going, which schools are better ??
5. Suburban or Urban lifestyle preference or a mix of the two => prefer a balanced mix
6. Easy access to public transit, important or not? => quite important
7. Preferable demographics of desired neighborhood. => doesnt matter really, peaceful people I hope...
8. Family of 4, Couple + 2Kids
9 hoping to rent a 2bed apartment, work location around piedmont road

What are the average numbers for the most cost heads, rent, utlitiies, groceries, med insurance, surviving a few months without car.

It would be our first time living in the US, therefore some questions might look silly, but I have to put them forward anyway - What all comes included in a rental apartment ? furniture ? lighting ? washing machine ? oven ? kitchen basics ? How about renting a furnished apartment (with stuff like furniture etc) vs an unfurnished one ? costs ? pros / cons ? life in apartments vs houses ? costs ? pros ? / cons ?

I have lived in Europe for some time, and there its nothing, except the kitchen (gas/oven etc) nothing comes.. a bare apartment.. howz it in the US ? in Atlanta area ??

I might be tentative a bit/lot, please excuse me for that, quite a lot of things are uncertain for me right now, therefore trying to keep questions as open as possible

PS - Whats the gross tax rate in Atlanta ? cumulative (state+federal+others...) ? I dont seem to be able to find that..

Looking forward to a lot of help...

thanks in advance

[lorilove]

Tax rates are based on income - so the more you make the higher the tax rate. Which is why you won't find a flat amount.

To give you a better idea of what to expect in costs, can you give us an idea of what your annual or monthly income level will. Typically we would not be so specifc but given you circumstances it would help. You can be a little general if that would help like 80-100K or low 100's

[sraghav20]

@lorilove - As far as I am informed at this point in time, the gross salary is pegged around 80k p.a.

appreciate your inputs...

[lorilove]

Here is what you can expect as far as taxes:

A typical US Citizen would pay:
Social Security 6.2%
Medicare 1.45%
Federal Income Tax varies based on number of dependents claimed
State Income Tax varies based on number of dependents claimed

You may not have to pay Social Security and Medicare - check with your employer. We have temporary foreign workers at our company and they do not pay but I am not sure of those exact rules.

For Income Taxes - you basically withhold taxes throughout the year and then at year end you file your tax return and true up based on your return (pay more or get a refund). You only pay taxes on taxable income which for most people is their gross wage less their pretax deductions including health insurance and retirement savings (401K). You then take these taxable wages and get to take a variety of deductions or a standard deduction amount. If you make 80K your adjusted taxable income is probably going to be around 60K (on average)

Taxes are then calculated as follows:

Tax Brackets (Federal Income Tax Rates) 2000 through 2013


To take an example, suppose your taxable income (after deductions and exemptions) is exactly $100,000 in 2012 and your status is Married filing jointly; then your tax would be calculated like this:
($ 17,400 minus 0 )x .10 :$ 1,740.00(70,700 minus 17,400 )x .15 :7,995.00(100,000 minus 70,700 )x .25 :7,325.00Total: $ 17,060.00

State works basically the same way but fewer tax brackets - I would just estimate 6% to be conservative

Overall I think you should plan for at 20% to go to income taxes.

For a family of 4, given your income level I would look at a possible rental rate of 1800-2000 per month although others with more recent experience would have better input.

[PeteATL41]

Not sure where you are coming from...but there a number of other expenses on top of taxes that you might not be used to... health insurance can be very expensive and not cover everything so definately something to keep in mind if you are coming from a country with a national health plan like the UK. Most people get their health insurance thru their job so your out of pocket can vary greatly. For example, my family coverage (medical, dentalm vision, life disability etc.) all-in costs $25,000 p.a with my employer picking up 80% of that. Also, educational expenses can be very high as well. You definately want to live in an area with good public schools. It looks like your job is in Buckhead based on your post, but I would look to live a bit further out to get a better housing options in your price range and a better public school system. Perhaps Roswell or even parts of southern Gwinnett might be good alternatives. Many people commute from even further out in Alpharetta and betyond, but traffic can be a real issue at times so it would not be for me.

[sraghav20]

Thanks for all the responses.

@PeteATL41, I am coming from India, and this will be our fist time in US. However, I have spent a few years in Europe, and have a bit of idea about such costs, though I am sure that these costs change from county to county, let alone different countries or continents

So, yes, I am aware these things exist, trying to ascertain how much they pinch the pocket... and what all heads exist...

Also, culturally or however you put it, i wanted to know what to expect when i am renting an apartment. what all comes in ? what does not ? whats the tentative rent for a region with decent schools and a good public transportation connectivity ?

please put in your inputs, I really need them...

regards

[jeoff]

Most apartments have all major kitchen appliances. Most do not include a washer and dryer, and may or may not have room for or hook-ups for a washer and dryer (you can rent or buy those --long-term it is worth buying those). Electricity, gas, cable TV/Satalite TV, phone, are paid to individual companies/municipalities monthly and not generally included in the rent (a deposit is often required for utilities--depending on your credit), water is often included in the price of rent. Most apartments come unfurnished, and it is probably more cost effective to buy your own furniture-- you may want to buy some used furniture, but not matresses. Some apartments may require renter's insurance (not that expensive and probably worth it) --some folks only keep renter's insurance long enough to sign their lease and then cancel. Start of lease document and have repaired any damage to apartment, and at end document and walk-through that no damage was done. Any lease for less than one year will generally cost more per month than a 1 year or more lease. Better places will require a deposit roughly equal to one months rent. Pet deposits (where pets are allowed) are extra.

[lorilove]

--some folks only keep renter's insurance long enough to sign their lease and then cancel.

True but sad - at a cost less than $150 per year a very foolish decision.

[Mattie]

OP, will you have a car? It will make a big difference in where you must live in order to have access to public transportation. You will get more bang for your buck as far as schools and rentals outside the MARTA route.

[cqholt]

Good neighborhoods, with proximity to MARTA transit stations will cost more than car-only areas.