How High is the Cost of Living in North Carolina?
Southern charm and a low cost of living characterize North Carolina life, which requires a single adult to make around $32,908 per year.
Written by Kathryn Mae Kurlychek
Reviewed by Melanie Reiff
The cost of living in
North Carolina
is below the national average, but depending on what city you live in, you may face costs that exceed even state norms. Even so, the average single adult needs to make $32,908 per year to live comfortably in The Tar Heel State. If you can’t help but find yourself in a Carolina state of mind, it may be time to start planning your move—but what exactly does it cost to make your dreams of coastal living and homemade southern cuisine a reality?
Here to break down the real costs of living in North Carolina is
Jerry
, the car and home insurance
comparison super app
that can help you save time and money. In this article, we’ll cover what it takes to pay for the non-negotiable essentials of living versus what you’ll need to make to live comfortably—and how you can find savings along the way. RECOMMENDED
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How high is the cost of living in North Carolina?
If you’re already planning your move, you’ll be happy to know that North Carolina ranks among the top 25 cheapest states to live in the US (it’s number 24), with a cost of living index of 90.6.
What exactly does that number mean? Well, a cost of living index score helps us understand how prices for different essentials, goods, and services vary regionally across the US. The average cost of living index is an even 100, so any number above 100 indicates a higher than average cost of living—and likewise, any number below 100 means a lower than average cost.
North Carolina’s score of 90.6 means residents across the state tend to see lower overall costs for essentials like food, healthcare, housing, and transportation. Below, we’ll take a closer look at what you can expect to pay for these non-negotiables and how that compares to the national average.
Food: $289 per month
Known for tangy barbeque, sugary peach cobbler, and prize-winning sweet potatoes, the southern cooking in North Carolina is unbeatable—but how much should you be budgeting for your monthly grocery bill?
The answer is about $289 per person per month, according to the US Bureau of Economic Analysis. Compared to the national average of $411 per month, that’s not too shabby. Of course, exactly how much you spend on food will also depend on the size of your household—a family of four, for example, will spend closer to $1,000 per month on food costs.
Keep in mind that in this case, we’re discussing the cost of your grocery bill only. Your morning coffee from Starbucks, afternoon Shake Shack, or Friday night out are all additional expenses.
Healthcare: $504 per month
In North Carolina, the average single adult can expect to pay about $504 per month on health insurance. That works out to about $6,048 a year, which still beats the national average of $7,739 by over a thousand dollars!
Families in North Carolina will pay more for each extra person included in a plan. So, the larger your family size, the more you’ll pay for insurance (and that’s before you factor in prescription medicine costs or ongoing medical care). A family of four could expect to pay closer to $7,548 for health insurance.
Housing: $1,305 to $2,225 per month
Overall, housing prices across the state fall below the national average. The median home value rests at $315,331, which is still less than the national median of $349,816.
As is the case with real estate, when it comes to finding a home or apartment in North Carolina, it all comes down to one thing: location, location, location! Here’s a look at some average housing costs across the state:
- Median monthly mortgage payment: $1,318
- Average studio rent: $1,200
- Average one-bedroom rent: $1,305
- Average two-bedroom rent: $1,644
- Average three-bedroom rent: $1,950
- Average four-bedroom rent: $2,225
Keep in mind that these averages represent a wide range of homes and cities—in some areas of the state, you can find housing for significantly cheaper. We’d recommend starting with a budget, then seeing what cities and neighborhoods best meet your needs.
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Transportation: $426 to $975 per month
Whether you’re interested in exploring Raleigh’s vibrant arts district or digging your toes in the Outer Banks sand, you’ll need to budget for getting around. The average single adult should plan to spend around $426/month, but a family of four can expect to pay over double that.
If you’re someone who prefers to rely on public transit, you’ll be pleased to hear you’ll spend less on average than vehicle owners—even if it’s your main mode of transportation! Let’s take a closer look at a few important figures:
- Average annual cost of car insurance in North Carolina: $492 to $1,325 (liabilityonly vs.full coverage)
- Average cost of a gallon of gas, July 2022: $4.22
- Cost of a Charlotte Area Transit (CAT) pass: $121/month
How much you need to live comfortably in North Carolina: $32,908 to $80,716 per year
Food, housing, healthcare, and transportation are all non-negotiable life expenses—and to afford them in North Carolina, a single adult will want to make at least $32,908 per year or $17.14/hour!
That number comes from
MIT’s Living Wage Calculator
, which differentiates wages based on the state minimum versus what it actually takes to live comfortably. A single working adult with two children will want to make closer to $80,000, while a family of four needs $91,430 per year, or $23.81/per hour! That’s almost double North Carolina’s state minimum wage of $12/hour. That said, the median annual salary among North Carolinians is around $59,893 per year.
At a minimum, a single adult will want to make at least $30,000 a year to get by—but for many, living comfortably in North Carolina is a real possibility. Let’s take a closer look at some basic non-essentials to see how they compare:
- Average cost of a date: $88.63 (US average: $116)
- Average cost of a week in OBX: $1,276 per person (US average cost of a 7-day vacation: $1,558)
- Average cost of a Big Mac: $4.15 (US average: $3.99)
- Carowinds Amusement Park tickets:$79.99 per person (US average theme park ticket price: $91)
- Average sales tax: 4.75% (US average: 5.09%)
The North Carolina cities with the lowest cost of living
What makes for a comfortable living can vary from person to person—but if you’re moving to North Carolina on a budget, keep these five cities in your sights:
- Concord(COLI: 93.3): Just east of Charlotte, this charming southern town is famous for hosting big attractions like NASCAR’s Charlotte Motor Speedway and Concord Mills.
- Greensboro(COLI: 82.7): Don’t let the low cost of living fool you—Greensboro is one of North Carolina’s most populous cities, set close to a biodiverse wetland perfect for nature lovers.
- Winston-Salem(COLI: 51.3): You can find rent as low as $600 in parts of this city, despite being the second-largest municipality in the region.
- Wilmington(COLI: 99.3): A historic downtown district blends with modern restaurants and boutiques in this picturesque coastal city.
- Durham(COLI: 97.5): Here, you can walk through the ivy-strewn campus of Duke University and find affordable living close to Raleigh.
How to easily find home and car insurance in North Carolina
The average cost of
car insurance
in North Carolina is $110 per month—and whether you’re looking to save money or add coverage, Jerry
can find you the perfect policy at the right price, all in under a minute. A licensed broker and the #1 rated insurance app, Jerry does the hard work of gathering quotes from the nation’s top providers, helping you purchase a new policy, and even canceling your old insurance for you.
“I was literally floored by the savingsJerryfound for me. I was paying close to $960 every six months and now I’m paying $380 every six months for IDENTICAL COVERAGE in North Carolina!” —Olivia Z., satisfied Jerry user.
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FAQ
How much does it cost to live in North Carolina per month?
How much you’ll need to live in North Carolina depends on several factors, like what part of the state you’re in and the size of your household. Generally speaking, a single adult will want to bring home around $2,800 per month to live comfortably, while a family of four needs closer to $3,800.
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