Cost of Living in Bonanza, GA

With a cost of living index of 96, Bonanza, GA is slightly more affordable than average. Living here is 4% cheaper than the national average and 14% above the Georgia state average of 82. Bonanza is a small community of 3,567 residents.

Housing costs are the biggest factor in Bonanza's cost of living. The median monthly rent is $1,521 (15% above the US median of $1,319), and the median home value sits at $179,800 (41% below the national median of $304,900). At current prices, the median home costs roughly 2.8x the median household income — well within traditional affordability guidelines.

The median household income in Bonanza is $63,308, which is 16% lower than the national median of $75,149. Residents spend roughly 29% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability.

Climate is another factor for anyone considering a move to Bonanza. The area sees an average annual temperature of 63.6°F, with summers averaging 80°F and winters around 47°F. Annual rainfall totals 50.4 inches spread over roughly 116 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Atlanta-Sandy Springs-Roswell, GA (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.