State profile
North Carolina Cost of Living Comparison
North Carolina's 2024 price level is 94.326, 5.67% below the national level, after one of the largest relative jumps of 2021: the parity rose from 91.345 to 93.734 in a single year.
Updated
94.326North Carolina all-items price level, U.S. = 100 · rank 21 of 51, lowest first
| Measure | North Carolina | Wisconsin | First − second |
|---|---|---|---|
| All-items price level | 94.326 | 94.095 | +0.231 points |
| Rent price level | 81.364 | 79.312 | +2.052 points |
| Home value | $288,900±$1,086 | $266,500±$1,051 | +$22,400 |
| Two-bedroom gross rent | $1,164±$7 | $1,106±$6 | +$58 |
| Household income | $72,388±$324 | $77,485±$455 | −$5,097 |
| Real estate taxes paid | $1,896±$8 | $3,792±$12 | −$1,896 |
$4,000 of monthly spending in North Carolina scales to $3,990 in Wisconsin at the 2024 all-items price ratio.
BEA 2024 and ACS 2020–2024; ± marks the Census 90% margin. How to read a gap
North Carolina: a mid-table state that got dearer early
North Carolina's relative prices moved early in the decade. The 2021 rise of more than two points was the fourth-largest one-year gain of any jurisdiction that year, and the parity kept edging up to 94.399 in 2023 before holding at 94.326 in 2024, a total gain of 2.981 points since 2020.
The state is now mid-table on nearly everything. Goods (96.621) rank 28th-lowest, rents (81.364) 22nd, utilities (88.619) 24th and other services (98.186) 16th. The median home value of $288,900 and the two-bedroom gross-rent median of $1,164 both rank 28th.
Incomes sit lower. Prices lift incomes five places, from 38th on the household median to 33rd on price-adjusted income per person. Renters spend 29.5% of income on gross rent, rank 22. Owning outright is cheap here, $490 a month at the median, and property taxes rank 37th.
The state government collected $40.63 billion in fiscal 2025, $3,628 per resident (rank 35). Individual income tax supplied 42.1%, general sales 30.9% and other selective sales 9.6%; Census records no state property tax.
Virginia, to the north, is the expensive neighbour at 101.104: its rent parity is 106.799, its two-bedroom median $1,481, or $317 a month more, and its median home value $383,700, $94,800 above North Carolina's. Georgia (96.293) is a little dearer, while South Carolina (93.749) and Tennessee (91.870) are cheaper. Wisconsin (94.095) is the closest price level nationally.
Category price levels in North Carolina
| Category | Parity | Rank, low first | vs U.S. |
|---|---|---|---|
| All items | 94.326 | 21 | 5.67% below |
| Goods | 96.621 | 28 | 3.38% below |
| Housing (rents) | 81.364 | 22 | 18.64% below |
| Utilities | 88.619 | 24 | 11.38% below |
| Other services | 98.186 | 16 | 1.81% below |
| Real income per person, 2017 $ | $56,310 | 33 | U.S. $59,195 |
All items by year: 2020 91.345 · 2021 93.734 · 2022 94.013 · 2023 94.399 · 2024 94.326 (+2.981 since 2020). How to read categories and trends
Monthly housing costs
- Owners with a mortgage
- $1,631±$6 · rank 36, high first
- Owners without a mortgage
- $490±$3 · rank 42
- Renters: gross rent / income
- 29.5%±0.2 · rank 22
North Carolina state tax collections, FY2025
$40.63 billion in total, $3,628 per resident. Scope of these figures
| Tax | FY2025 | Share | Per resident |
|---|---|---|---|
| Individual income | $17.09 billion | 42.1% | $1,526 |
| General sales | $12.57 billion | 30.9% | $1,122 |
| Property | not levied | ||
| Motor fuel | $2.48 billion | 6.1% | $222 |
| Other selective sales | $3.90 billion | 9.6% | $348 |
| Corporate income | $1.57 billion | 3.9% | $141 |
| Licenses | $2.89 billion | 7.1% | $258 |
| Severance | $1.8 million | 0.0% | $0 |
| Other taxes | $123.9 million | 0.3% | $11 |
North Carolina beside its neighbours
| Jurisdiction | All items | Rents | Goods | 2BR rent |
|---|---|---|---|---|
| North Carolina | 94.326 | 81.364 | 96.621 | $1,164 |
| Georgia | 96.293 | 88.694 | 98.929 | $1,326 |
| South Carolina | 93.749 | 80.490 | 96.339 | $1,148 |
| Tennessee | 91.870 | 79.070 | 96.247 | $1,143 |
| Virginia | 101.104 | 106.799 | 100.368 | $1,481 |
Before you budget a move
A North Carolina household comparison should use prepared taxable income and eligibility when analyzing retirement or work income. The statewide price data do not apply an income-tax rate to gross receipts. Plan-specific exclusions, deductions, household facts and approved credits belong in an annual tax preparation step.
For Charlotte-area, Raleigh-area or another destination, gather the actual lease or purchase plan and commute. A gross-rent median includes qualifying tenant utilities, while the advertised lease may separate them. Price the contract consistently and keep any employer relocation benefit outside recurring compensation unless it is ongoing.
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