What is the Cost of Living in North Carolina?

• The average cost of a one-bedroom apartment for rent in North Carolina is between $1,294 and $1,492.
• The average cost of utilities in North Carolina is $370 per month.
• The average annual salary in North Carolina is $66,448 per year.
• The cost of living in Charlotte, North Carolina, is 3.5% lower than in Orlando, Florida.

If you’re contemplating a move to North Carolina, knowing what to expect when it comes to the cost of living is helpful as you plan and budget. Although the cost of living in North Carolina cities varies, the overall costs come in lower than the national average in most areas. Check out our guide to the cost of living in North Carolina as you determine whether the Tar Heel State is the right place for you. 

North Carolina cost of living at a glance

The cost of living in North Carolina depends on the city you call home. Charlotte has a 1.8% higher cost of living than the rest of the country. Raleigh’s cost of living is 5.1% higher than the national average. Durham is 4.3% more expensive than the U.S. average. Residents of North Carolina enjoy 19% lower housing and 16% lower transportation costs compared with the national average.

North Carolina housing costs

One of the areas in which the North Carolina cost of living is lower than the national average is housing. The average rent in North Carolina depends on location. A one-bedroom apartment in Charlotte costs $1,480, while a two-bedroom costs an average of $1,690 per month. The average cost of a one-bedroom apartment in Raleigh is slightly cheaper at $1,110 per month. Rent in Durham for a one-bedroom apartment is around $1,200 per month.

Housing, on average, is lower in North Carolina than the national average. North Carolina has an 81/100 score for housing, with the average U.S. household based at 100 points.

The median home price in the state is $315,331, while the national average is $349,816. Home prices have increased in the last few years. NeighborhoodScout reported a 7.5% increase in home values between 2017 and 2018 across the state. From 2021-2022, North Carolina experienced an increase in home prices of 27.8%.

Some of the most affordable cities in the state for housing include Fayetteville, Cary, Concord, Durham, Asheboro, Wilmington, Lexington, Chapel Hill, and Greenville.

Housing costs in North Carolina vary, depending on where you live. Find out what you can expect to pay in North Carolina’s largest cities:

Current rent prices in Charlotte

• Studio: $1,547 per month
• One-bedroom: $1,490 per month
• Two-bedroom: $1,700 per month

Current rent prices in Raleigh

• Studio: $1,429 per month
• One-bedroom: $1,294 per month
• Two-bedroom: $1,600 per month

Current rent prices in Durham

• Studio: $1,566 per month
• One-bedroom: $1,400 per month
• Two-bedroom: $1,603 per month

Raleigh is the state’s capital and one of the largest cities. The cost of living in Raleigh is slightly higher than the state average. If you live outside the city center, you can save several hundred dollars since the monthly average for a one-bedroom apartment is slightly more than $1,000.

North Carolina transportation costs

Depending on where you live in North Carolina, you might be able to get by on public transportation. The perks of living in Charlotte are many. Charlotte has a bus system, CATS (Charlotte Area Transit System), with lines running through much of the city. A monthly pass on the basic route costs approximately $88, while an Express Plus pass runs roughly $121 per month. Other cities that offer public transportation include Chapel Hill, Raleigh, Durham, Concord, Fayetteville, Asheville, Cary, Boone, Gastonia, Goldsboro, Greenville, High Point, Rock Mount, Winston-Salem, Wilmington, Wilson, Salisbury, and Hickory.

Many residents own private vehicles, and the lower-than-average gas prices make it easier to get around without breaking the bank. The average cost of gas in North Carolina is $4.419 per gallon compared to the national average of $4.779 per gallon.

Commuters in the state spend an average of 24.8 minutes driving to work. The average car insurance premium is $865 per year, nearly 40% less than the national average. Your age, driving record, credit score, and marital status also impact what you pay for car insurance.

North Carolina utilities

North Carolina utility prices are about 9% higher than the national average. The average utility bill is slightly more than $370 per month. The size of your living space and how you use your utilities will undoubtedly factor into what you pay each month.

During the summer, the hot, humid climate contributes to higher electricity bills since most residents rely on their central air conditioning systems to stay comfortable. The other seasons are more moderate in most areas of the state, and bills tend to fluctuate a bit less. High-speed internet access will usually cost approximately $50 per month.

The average utility costs in North Carolina depend on where you make your home. Find out how much you can expect to pay in North Carolina’s biggest cities.

• Charlotte: $149.49 per month
• Raleigh: $139.43 per month
• Durham: $133.85 per month

 Make sure to budget for these expenses if you’re planning a move to North Carolina.

North Carolina food costs

You can’t mention North Carolina food without including barbecue in the same sentence. The state is known for its tangy, vinegar-based barbecue sauce, poured generously over smoked, pulled pork, and other types of meat. You’ll find places throughout the state serving this staple alongside other Southern favorites like hush puppies, slaw, beans, and fried chicken.

Food is an area of the cost of living in North Carolina that comes under the national average. In Raleigh, the average price of a gallon of milk is slightly more than $3, while a loaf of bread costs less than $3. A single adult might expect to spend approximately $289 per person per month on groceries. A meal at a casual restaurant costs an average of $15. The state is also known for its craft beer scene, so if you enjoy sipping a fresh brew, you can fulfill your craving here.

North Carolina health care costs

A few of the most well-recognized health insurance companies in North Carolina include:

• Aetna Life Insurance Company
• Blue Cross and Blue Shield of North Carolina
• United HealthCare Services, Inc.
• Cigna Health

In 2022, the average cost of a Silver health plan in North Carolina is $634 per month for a 40-year-old, per ValuePenguin estimates.

North Carolina entertainment costs

The quality of life among residents in the state is relatively high, making it an attractive place to put down roots. Since the average cost of living in North Carolina is lower than the national average, residents have access to appealing amenities without spending a fortune. You can also participate in several leisure activities and enjoy various entertainment venues.

The state houses more than 300 miles of beach and 1,000 miles of trails, making it an excellent spot for all types of outdoor enthusiasts. The moderate climate includes mild to cool winters and long periods of pleasant weather through much of the spring and summer months.

Award-winning museums, festivals, theaters, and musical groups are accessible throughout the state. If you want to live in an area with a bustling cultural scene, choose one of the larger cities in North Carolina, such as Raleigh, Durham, or Charlotte. 

The state also houses many entertainment attractions worth exploring, including:

• The Biltmore Estate in Asheville: Tickets start at $89.
• North Carolina Museum of Natural Sciences: Tickets are free.
• North Carolina Aquarium: Tickets start at $12.95.
• North Carolina Zoo: Tickets start at $11.

There are also many free attractions in North Carolina, including the iconic nearby mountain ranges, the Blue Ridge Mountains, and the Great Smoky Mountains on the state’s western side.

Other expenses to consider when living in North Carolina

Other expenses to consider when living in North Carolina include taxes, child care, and fitness. The sales tax rate in North Carolina is 4.75%. Child care costs are, on average, $909.38 per month. A fitness membership will run an average of $37.25 per month for North Carolina residents.

Average salary in North Carolina

• Charlotte: $66,448 per year
• Raleigh: $66,448 per year
• Durham: $49,677 per year

If you’re contemplating a move to North Carolina, know what to expect when it comes to the North Carolina cost of living as you plan and budget. Although the cost of living in North Carolina cities varies, the overall costs are lower than the national average in most areas.

With Southern hospitality and a low average cost of living, North Carolina is an attractive place to call home. Check out listings on Zumper in Charlotte, Raleigh, and many other North Carolina cities to find your next home.

FAQ: North Carolina cost of living

With Southern hospitality abound and a low average cost of living, North Carolina is an appealing place to call home. Check out listings on Zumper in Charlotte, Raleigh, and so many other North Carolina cities to find your next home.