Cost of Living in Margaret, AL

With a cost of living index of 77, Margaret, AL is a very affordable place to live. Living here is 23% cheaper than the national average and 3% above the Alabama state average of 74. Margaret is a smaller community of 5,538 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Margaret's cost of living. The median monthly rent is $881 (33% below the US median of $1,319), and the median home value sits at $224,700 (26% below the national median of $304,900). At current prices, the median home costs roughly 2.3x the median household income — well within traditional affordability guidelines.

The median household income in Margaret is $97,075, which is 29% higher than the national median of $75,149. Residents spend roughly 11% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Margaret. The area sees an average annual temperature of 63.9°F, with summers averaging 80°F and winters around 47°F. Annual rainfall totals 56.6 inches spread over roughly 118 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Birmingham, AL (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.