North Carolina Cost Of Living Statistics


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North Carolina Cost Of Living Statistics 2023: Facts about Cost Of Living in North Carolina reflect the current socio-economic condition of the state.

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LLCBuddy editorial team did hours of research, collected all important statistics on North Carolina Cost Of Living, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to start a North Carolina LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.

How much of an impact will North Carolina Cost Of Living Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top North Carolina Cost Of Living Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 15 North Carolina Cost Of Living Statistics on this page 🙂

North Carolina Cost Of Living “Latest” Statistics

  • According to the Bureau of Economic Analysis, the average yearly cost of food per person in North Carolina is expected to be $3,470.[1]
  • According to the Council for Community and Economic Research’s cost of living index for the second quarter of 2021, three large cities and metro regions in North Carolina have the lowest cost of living in the U.S.[1]
  • In terms of cost of living, MERIC places North Carolina at the 24th spot, wedged between Mississippi on the low end and Hawaii on the high end.[1]
  • The average cost of child care in North Carolina as of 2021, as reported by Costofchildcare.org are as follows: $1,155 for Infant Classroom, $1,038 for Toddler Classroom, and $1,170 for Home-based Family Child Care.[1]
  • The 24th lowest cost of living in the U.S. is North Carolina, according to the gathered data from MERIC in 2021.[1]

North Carolina Cost Of Living “Be” Statistics

  • When it comes to health care, North Carolina has an average expense of $1,391 compared to the national average of $1,415.[2]

North Carolina Cost Of Living “Other” Statistics

  • Senior citizens make up about 13% of the population of North Carolina, according to census statistics from 2010.[3]
  • North Carolina’s median age of 38.9 is just somewhat higher than the general national median age of 38.5.[3]
  • In North Carolina, Roughly 35.8% of the state’s population is over the age of 50, which is almost the same as the overall national percentage.[3]
  • According to data by NeighborhoodScout, 63% of North Carolina residents are homeowners.[2]
  • The MIT living wage calculator estimates that an adult without children would need to spend $279.25 on food per month in North Carolina.[2]
  • North Carolina has the highest flat tax rate among the eight states, at 5.25%.[2]
  • North Carolina’s rate of 5.25%, as seen on the Tax Foundation’s State Individual Income Tax Rates and Brackets for 2021, isn’t particularly high or low in comparison to other states’ rates.[1]
  • The census bureau reports that the average commute time in North Carolina is 24.3 minutes, whereas the national average is 26.4 minutes.[2]
  • North Carolina’s median age has increased by 4.3% since 2010, making it the state with the twelfth largest increase and much above the total national growth of 2.7%.[3]

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How Useful is North Carolina Cost of Living

One of the key elements to consider when discussing the cost of living in North Carolina is its relative affordability compared to other states. Many may find that the cost of housing, for example, is more reasonable in North Carolina compared to larger metropolitan areas like New York City or San Francisco. This can be particularly attractive for individuals or families looking to stretch their budget further or seeking to purchase their first home.

However, it’s important to consider that the cost of living is not just limited to housing expenses. Other elements, such as transportation, healthcare, groceries, and utilities, all play a role in determining the overall cost of living in North Carolina. While certain items may be less expensive in North Carolina compared to other states, it’s essential to take into account the overall picture and how these expenses can add up over time.

Additionally, the cost of living discussion should also take into account factors such as wages and job opportunities. While the cost of living may appear lower in North Carolina compared to other states, it’s crucial to consider whether residents are able to find employment that offers a living wage to cover these expenses adequately. Making ends meet goes beyond just how much you’re spending – it’s also about how much you’re able to earn.

Another aspect to consider when discussing the usefulness of the cost of living in North Carolina is the impact it has on overall quality of life. Many individuals are willing to make sacrifices in terms of cost of living in exchange for a better quality of life, whether that’s access to outdoor activities, a vibrant arts and culture scene, or strong community connections. While the cost of living is certainly an important factor to consider, it’s not the only one that impacts our overall well-being and happiness.

Ultimately, the discussion around the cost of living in North Carolina is a multifaceted one that requires a nuanced approach. It’s not just about how much we’re spending on rent or groceries, but also about how those expenses compare to what we’re able to earn, the overall quality of life we’re able to achieve, and how our choices in this regard impact our daily lives.

As individuals continue to weigh the pros and cons of living in North Carolina, it’s crucial to consider the full picture and how the cost of living fits into the broader context of our lives. By taking a holistic view and considering all factors at play, we can make more informed decisions about where we choose to call home.

Reference

  1. sofi – https://www.sofi.com/cost-of-living-in-north-carolina/
  2. smartasset – https://smartasset.com/mortgage/the-cost-of-living-in-north-carolina
  3. seniorliving – https://www.seniorliving.org/north-carolina/

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