Inhabitants of North Carolina will discover that they are not spending much more or less than residents of other states. North Carolina has the 24th lowest cost of living in the United States, according to MERICdata collected in the second quarter of 2021.
How much would it cost you to relocate to the south? South Carolina residents should expect to spend less, as the state ranked three places ahead of North Carolina in terms of the least costly states to live in.
It can be difficult to understand what these rankings signify, so let’s take a deeper look at the Bureau of Economic Analysis’ 2020 data. North Carolina’s total personal consumption cost is $38,295 per year. Here’s how it works out.
Housing Costs in North Carolina
North Carolina has a large number of housing units (4 million, according to 2019 census data), which may explain why housing in the Tar Heel State is relatively affordable. In late 2021, Zillow estimated a typical North Carolina house value of $273,098.
According to the most recent census data, the cost of housing in North Carolina on a monthly basis is as follows.
- The average monthly mortgage payment is $1,314
- The average studio rent is $732.
- Rent for a one-bedroom apartment is $853 on average.
- Rent for a two-bedroom apartment is $878 on average.
- Rent for a three-bedroom apartment is $1,022.
- Rent for a four-bedroom house is $1,333 on average.
- The average gross rent is $931.
Because the location of your property has a significant impact on its price, let’s take a look at the typical home values in 20 major North Carolina cities in September 2021, according to Zillow.
Groceries & Food
Your dietary habits, as well as where you reside, can have a significant impact on how much money you spend on food each month. According to the Bureau of Economic Analysis, the average annual food expense per person in North Carolina is $3,470.
Your grocery expenditures may also be affected by where you live in North Carolina. The grocery costs in major North Carolina cities for the second quarter of 2021 were revealed by the Council for Community and Economic Research. From lowest to largest, here are the costs.
Transportation
Getting about North Carolina is expensive, whether you’re commuting to bustling downtown Raleigh or spending a weekend relaxing in the Outer Banks.
The amount of money you expect to spend will depend on the size of your household. From MIT’s Living Wage Calculator, here are a few samples of average transportation expenditures for various family arrangements.
Health Care
The average per-capita cost of health care in North Carolina is $6,250 per year, according to the Bureau of Economic Analysis’ Personal Consumption Expenditures by State report from 2020.
Your bottom-line cost is influenced by your location, the type of coverage you have, and how often you require care.
Child Care
North Carolina’s average monthly child care costs range from $1,038 to $1,170 per child.
Child care is a significant but necessary expense for most parents, while there is considerable leeway based on the type of care you require.
If you’re having trouble paying for child care, the Child Care Subsidy program for qualifying families in North Carolina is worth looking into.
Taxes
Because North Carolina has a single rate of 5.25 percent rather than a tiered rate, determining what you’ll owe in state income tax is rather simple.
North Carolina’s rate of 5.25 percent isn’t particularly high or low when compared to other states’ rates, according to the Tax Foundation’s State Individual Income Tax Rates and Brackets for 2021. The top marginal tax rate in California is 13.3%, although some states, such as Florida, have no state income tax at all.
Miscellaneous Costs
It’s understandable if you want to reward yourself after you’ve paid all of your bills. Some of these cheap delights could weigh in if each North Carolinian spends roughly $20,732 per year on personal expenses (costs correct as of Nov. 3, 2021):
- A day at the North Carolina Zoo will set you back $11 for children and $15 for adults.
- Chimney Rock State Park entrance fees range from $0 to $17, depending on age.
- The “Full Breakfast” at the famed Biscuit Head eatery costs $10.
The North Carolina Museum of Natural Sciences offers free general entry to museum visitors.
How much does a typical water bill in North Carolina cost?
Every year, Eskaf’s team examines rates from more than 500 water and wastewater companies in North Carolina, which serve more than 8 million people. Residents in North Carolina spend an average of $27 to $41 a month for 5,000 gallons of water, according to a 2018 report.
Are North Carolina’s utility costs high?
Utility prices are one of the most difficult budget line items to alter when moving to a new state since they vary so much depending on location, weather, provider, and personal usage.
Fortunately, most North Carolinians pay less than the national average of $240 for basic utilities. Here’s how much you can anticipate to pay for basic utilities in various cities in North Carolina.
- $151.76 in Greensboro
- $157.57 in Charlotte
Remember to factor in the cost of “common utilities” like cell phone and internet access, as basic utilities only cover gas, electricity, and water.
Cell phone service costs an average of $94 per month, and internet access costs anything from $30 to $60 per month. However, selecting a service provider and requesting a price online will provide more precise figures.
If you are a new customer, you may potentially be eligible for some fantastic discounts. For new clients, some cell phone and internet companies provide free memberships to film and music streaming services.
Is Huntersville, North Carolina, a nice place to call home?
- Excellent work! SABIC Innovative Plastics, Rubbermaid, Pactiv Corporation, Metrolina Greenhouses, Novant Health, Southwire, GM Financial, and Ensemble Health Partners are just a few of the national and international enterprises that call Huntersville home.
- Convenience
- I-77 and I-485 both lead to Huntersville. The community is located 13 miles north of Charlotte and 12 miles south of Mooresville, North Carolina.
- Family-Friendly Neighborhood
- Huntersville is home to family-friendly housing, nationally acclaimed preschools, outstanding educational institutions, and safe communities. Huntersville has been named as one of the best places to live in the United States. On Nerd Wallet’s 2017 Best Places for Young Families in North Carolina, it was ranked No. 19. In 2016, it was ranked No. 2 on Wallet Hub’s list of the Best Places to Raise a Family.
- Recreation and leisure opportunities come in a variety of shapes and sizes.
- Huntersville caters to a wide range of interests, including shopping, hiking, water sports, tennis, and golf. Year-round activities for all ages are available through Huntersville Parks & Recreation, including outdoor movies, festivals, a seasonal market, and athletic programming.
- Excellent Educational Institutions
- In the Huntersville region, there are a number of excellent public, private, and charter schools. Lake Norman Charter School was named one of the Best High Schools in the Country by U.S. News & World Report in 2017.
- Safety
- Huntersville is a secure community in which to live, work, and play. The Town has been named a safe city to reside in North Carolina for several years in a row. Huntersville was named one of the Top 20 Safest Cities in North Carolina by Safe Wise in 2017.
- Good Financial Situation
- Both Moody’s Investors Services and Standard & Poor’s have assigned Huntersville a AAA bond rating, the best credit rating a town can achieve. In 2017, Huntersville was honored with the Comprehensive Annual Financial Reporting Award.
What is the typical power bill in Charlotte, North Carolina?
Charlotte, North Carolina electricity bills The average monthly power bill for residential customers in Charlotte, North Carolina is $134, which is derived by multiplying the average monthly consumption by the average electricity rate: 1,241 kWh * 11 /kWh.
What is the typical monthly power bill in North Carolina?
The average monthly electricity bill for residential customers in North Carolina is $149, which is derived by multiplying the average monthly consumption by the average electricity rate: 1,262 kWh * 12 /kWh.
How much does a typical water bill cost?
In July, Auckland water prices will increase by 7%, bringing the average annual household water bill to $1224.
Watercare, the council-controlled organization in charge of the city’s water and wastewater services, authorized the additional rates today.
Auckland Council is also proposing a 6.1 percent rate hike beginning in July, with a climate-action targeted rate of 2.4 percent to fund new and frequent bus routes, native tree planting, and other emissions-reduction measures.
The past 12 months have been difficult for Watercare, according to chief executive Jon Lamonte, with Covid-19 driving up operational expenses and inflation driving up construction prices.
Why is it so inexpensive to live in North Carolina?
You’ve come to the perfect place if you’re moving to North Carolina and want to know what retirement life is like. Who wouldn’t want to spend their retirement in North Carolina, with its gorgeous mountains, incredible landscapes, and interesting hikes?
The stats back up the claim as well. The home market in North Carolina is reasonably priced. The cost of living for seniors is 3.7 percent lower than the national average, and Social Security income is no longer taxed in North Carolina. Other taxes are often inexpensive as well, making North Carolina an excellent place to retire to.