North Carolina's cost of living index is 96 — 4.0% below the US average of 100. Compare purchasing power and equivalent salaries across states.
CoL Index
96
US avg = 100
vs. National Avg
-4.0%
Less expensive
Median Income
$57,341
North Carolina median household
Equiv. at US Avg
$59,730
Same purchasing power
| CoL Index | 96 | MIT/MERIC composite index (US avg = 100) |
| vs. National | 4.0% | Below average cost |
| Median Household Income | $57,341 | North Carolina median (2023 ACS) |
| National Purchasing Power | $59,730 | Equivalent $ at US avg CoL |
| Overall Category | Moderate | Qualitative classification |
| Population | 10,439,388 | 2020 US Census |
With a cost of living index of 96, North Carolina is roughly on par with the national average. Lower costs in North Carolina mean your dollar goes further. A salary of $57,341 in North Carolina provides the equivalent purchasing power of $59,730 in a state at the national average.
Housing is typically the largest driver of cost of living differences between states.North Carolina's median home price of $335,000 is near the national median of approximately $310,000. Other factors include state income tax (4.5% top rate in North Carolina), sales tax (4.75% state rate), and local property tax rates (0.8%).
