Cost of Living in North Carolina 2022

Whether you’ve heard rumors about the rolling hills and massive mountains, you’re a fan of outdoor water adventures, or you’re looking to explore some untapped culture—North Carolina has a lot to offer, including a pretty affordable cost of living.

 

With this article, we’ll break down some of the key factors that contribute to the cost of living in North Carolina and explore some of the top reasons why people move to the state.

 

Overall cost of living in North Carolina

On an index of 100 where 100 is the average cost of living in the United States, North Carolina sits at around 91. But depending on your lifestyle and what’s important to you in your next chapter in life, it’s the more affordable aspects of North Carolina that might draw you in—the low cost of housing, for one.

 

Cost of housing in North Carolina

One of the leading contributors to the low cost of living in North Carolina is its affordable housing costs. You can find new home construction in North Carolina starting in the low $300k’s. Low property taxes in the state also help. The average effective property tax rate in North Carolina is 0.77 percent, lower than the national average of 1.07 percent.

 

Raleigh is a popular city worth considering in North Carolina. You’ll find easy access to both the mountains and the beach there. It also has a growing job market and plenty of opportunities to access dining, entertainment, and culture.

 

Cost of transportation in North Carolina

Affordable transportation also keeps the cost of living in North Carolina reasonably low, sitting on the index at around 84. Transportation costs include things like the cost of gas, car insurance, and overall vehicle maintenance. It might also surprise some people to know that North Carolina has a mass transit system that includes a rail line. Transit fairs in the state are also relatively low.

 

Cost of groceries, utilities, and other goods

The cost of living in North Carolina for things like groceries and utilities is about average, so you’re at least not losing money. That’s also true of dining out and entertainment in the area. Of course, the state is pretty famous for its barbeque, so you might consider it a good deal that you’ll pay about the same for barbeque there as you will in other states.

 

Cost of healthcare

One thing to note is that the cost of healthcare in North Carolina is slightly above average. However, while you might pay a premium—prices sit at around 108 on the index—you might get what you pay for if you live in a city like Durham, which is known as the “City of Medicine.”

 

However, the low cost of living in North Carolina isn’t the only reason people consider moving to the state. There are plenty of other reasons why you might enjoy the area—including access to all four seasons. It might also be a good place for you if you’re trying to raise a family. North Carolina offers quality education, natural beauty, and a thriving economy with diverse opportunities.

 

Discover some of the best places to live in North Carolina, or if you’re not sold on the state yet, consider this list of the ten cheapest places to live in the US.

 

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Published 03.03.2022

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