North Carolina cost of living
While a fresh start offers exciting opportunities and experiences, it's important to consider the practical side of a move to a new state. Building new friendships, finding support and getting to know your way around takes time.
Moving can also be costly and emotionally draining. Whether you're relocating to North Carolina for a job, a change of scenery or any other reason, understanding the cost of living in the state is crucial for a smooth transition. Overall, North Carolina's cost of living offers a blend of affordability and trade-offs, particularly in housing and everyday expenses.
The median rent in North Carolina is $1,727.45, versus the national median rent of $1,529.01.
Jump to insightResidents in North Carolina spend $266.23 weekly on food at home and $115.19 on food out.
Jump to insightAs of publishing, the average price per gallon of regular gas is $3.28 in North Carolina.
Jump to insightRecent data shows that employees in North Carolina pay $1,847 annually for employee-sponsored health insurance coverage.
Jump to insightHousing costs in North Carolina
According to recent data from Zillow, the median rent in North Carolina is $1,727.45, while the national median rent is $1,529.01.
Data from the U.S. Census Bureau shows rent prices in North Carolina broken down by home size. As of publishing, one-bedroom apartments in North Carolina had a median cost of $1,074 per month, and the two-bedroom median cost was $1,065 per month. Three- and four-bedroom homes had median costs of $1,186 and $1,654, respectively.
As of publishing, the median home price in North Carolina is $381,000, according to Redfin. The U.S. median home price is $436,000.
The median home price in the Fayetteville metro was $240,200 in the first quarter of 2024, versus $440,900 in Durham and Chapel Hill. Other areas, like Winston-Salem and Greensboro, had median home sales that fell in the middle of this range (between $283,800 and $295,800), according to the National Association of Realtors (NAR).
North Carolina ranks No. 32 for highest effective property tax rates in the nation, according to the most recent Tax Foundation data, at 0.82%.
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Food costs in North Carolina
According to recent census data, the average spent on food to prepare at home each week in North Carolina is $266.23, compared with the U.S. average of $270.21 at the time. North Carolina residents spend an average of $115.19 weekly on food prepared outside the home, compared with the U.S. average of $109.21.
Transportation costs in North Carolina
According to recent data from AAA, the average price per gallon of regular gas in North Carolina is $3.28, compared with the U.S. average of $3.46.
The most recent National Association of Insurance Commissioners data shows that the average auto insurance premium (liability, collision and comprehensive coverage combined) in North Carolina is $909.80, versus the national average of $1,189.50.
Public transportation costs
Public transit in North Carolina operates mainly as a network of bus routes, though a light rail option is available in the Charlotte area. As of publishing, the average fare for public transportation in North Carolina’s largest cities, Raleigh and Charlotte, are 41 cents and $1.14, respectively, according to a 2024 ConsumerAffairs study on public transit.
Health care costs in North Carolina
The most recent KFF data shows that, on average, employer-sponsored health insurance cost North Carolina employees $1,847 annually, with employers covering the remaining $5,906 of the $7,753 total cost.
Nationwide, the average employee contribution was $1,637 out of a total premium of $7,590.
Utility costs in North Carolina
According to the most recent data from the Energy Information Administration, the average monthly electric bill in North Carolina is $124.48, versus $135.25 countrywide.
Recent EIA data also shows that natural gas in North Carolina costs $14.82 per thousand cubic feet, compared with $13.25 nationally.
FAQ
What are the most expensive cities in North Carolina?
In North Carolina, it’s more expensive to live in Chapel Hill, Durham, Asheville, Wilmington and Raleigh. The cost of living, which includes expenses like housing, food and utilities, is higher in these cities than elsewhere in North Carolina as of publishing.
How much does it cost to move to another state?
How much it costs to move depends on how far you have to go, how much you have and how you go about it. If you hire movers rather than moving yourself for a long-distance move, you could spend several thousand dollars.
What other expenses should I consider when moving to North Carolina?
In general, you might consider the cost of entertainment, parking and airline travel from your closest airport if you’re a frequent traveler. These costs can vary by city, metro and state.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- Zillow, "Housing Data." Accessed May 14, 2024.
- Redfin, "Redfin Data Center." Accessed May 14, 2024.
- Tax Foundation, "Where Do People Pay the Most in Property Taxes?" Accessed May 14, 2024.
- United States Census Bureau, "Week 63 Household Pulse Survey: October 18 - October 30." Accessed May 14, 2024.
- AAA Gas Prices, "State Gas Price Averages." Accessed June 14, 2024.
- National Association of Insurance Commissioners, "2020/2021 Auto Insurance Database Report." Accessed May 14, 2024.
- KFF, "Average Annual Single Premium per Enrolled Employee For Employer-Based Health Insurance." Accessed May 14, 2024.
- U.S. Energy Information Administration, "2022 Average Monthly Bill- Residential." Accessed May 14, 2024.
