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North Carolina Yearly Expenses
Category:
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Multi-State
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US-175-AZ
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Word;
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Rich Text
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How to fill out Yearly Expenses?
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FAQ
North Carolina is still an affordable place in general since affordability doesn't exceed even 24% for most people. Households making $57,625, the country's median income, could likewise be comfortable here. We found that Monroe is the least affordable city for homeowners in the state.
The difficulty with this question is that housing costs vary widely in the state. In Raleigh, NC, the average resident would need to earn at least $4,005 monthly before taxes to live comfortably by that measure. This translates to an annual pre-tax wage of $48,060.
North Carolina is still an affordable place in general since affordability doesn't exceed even 24% for most people. Households making $57,625, the country's median income, could likewise be comfortable here.
You can even rent a two-bedroom apartment in the state for an average of $875 per month, which is lower than the national average price of a one-bedroom apartment, coming in at $930 per month. The median home price in the state is $187,300, while the national average is $231,200.
North Carolina is an exceptionally affordable place to live. According to AreaVibes, the overall cost of living index for the state is 95, five points below the national average of 100. In addition, home prices are plenty reasonable even in large metro areas.
Average Cost of Living in North Carolina: $38,295 per year North Carolina residents will find that they aren't spending drastically more or less than they would in other states. According to MERIC data gathered in the second quarter of 2021, North Carolina has the 24th-lowest cost of living in the United States.
Using Raleigh, North Carolina, as an example, the average resident would need to earn at least $4,540 monthly before taxes to live comfortably. This translates to an annual pre-tax wage of $54,480.
North Carolina has an affordable housing market. The cost of living for retirees is 3.7% cheaper than the national average and North Carolina no longer taxes Social Security income. Other taxes are generally low, too, making North Carolina a great place to settle down in your later years.
The good news is that the cost of living in North Carolina is relatively average, making it an affordable place to live. It's nowhere near the cost of some of the more notoriously expensive cities (looking at you, San Francisco), but it's also not the least costly place to live either.
