image from US Mint
This is part one of a new series here at Ultimate Money Blog. I’m going to be featuring fun money facts about all 50 states in America and why it is frugal to live in that particular state.
What do you picture when you hear about the state of Alabama? Is it banjos, warm weather, and the ocean? There’s more to Alabama than that! Alabama is a great place to live for frugal people for many reasons.
Alabama’s economy heavily relies on agriculture. They produce cattle, poultry, eggs, corn, sorghum, grains, and peaches. Cotton is one of the main crops, and Alabama is also known as “The Cotton State”.
Their industrial economy produces steel, iron, paper, lumber, and even some aerospace products.
The state’s general sales tax sits at 4%, which I think is fabulous! However, there may be city and/or county taxes, so don’t too excited.
The current unemployment rate in Alabama is 11%. If you are interested in a career in banking, auto manufacturing, or telecommunications, you may want to move to Alabama.
One of the most affordable areas to live in Alabama is Florence-Muscle Shoals, where the average house price is just $97,000. Wow!
Do you live in Alabama? Would you ever consider moving there?