Head-to-head
Virginia vs North Carolina
North Carolina is the cheaper side of this border by 6.778 points (94.326 vs 101.104), and rent is why: Virginia's rent parity is 25.435 points higher and its two-bedroom median $317 a month higher.
Updated
| Measure | Virginia | North Carolina | First − second |
|---|---|---|---|
| All-items price level | 101.104 | 94.326 | +6.778 points |
| Rent price level | 106.799 | 81.364 | +25.435 points |
| Home value | $383,700±$1,024 | $288,900±$1,086 | +$94,800 |
| Two-bedroom gross rent | $1,481±$11 | $1,164±$7 | +$317 |
| Household income | $93,170±$458 | $72,388±$324 | +$20,782 |
| Real estate taxes paid | $2,790±$10 | $1,896±$8 | +$894 |
$4,000 of monthly spending in Virginia scales to $3,732 in North Carolina at the 2024 all-items price ratio.
BEA 2024 and ACS 2020–2024; ± marks the Census 90% margin. How to read a gap
Virginia vs North Carolina: a narrowing gap, a wider income difference
North Carolina has closed some of the distance. Its all-items parity rose from 91.345 in 2020 to 94.326 in 2024, while Virginia's barely moved (101.003 to 101.104). Rents still separate them most: 106.799 in Virginia against 81.364. Goods (3.747 points), utilities (3.566) and other services (2.047) differ far less.
Housing costs follow the rents. North Carolina saves $317 a month on the median two-bedroom, $94,800 on the median home and $894 a year in property tax. Owners with a mortgage report median monthly costs of $2,127 and $1,631. Renters' burdens are the same in both states, 29.4% and 29.5% of income.
Virginia's incomes are much higher. Virginia's lead is $20,782 at the household median and $5,604 per person after prices. Higher Virginia prices do not cancel its higher pay on average, which is why the actual offers matter more here than the price ratio.
Both states lean on income tax, Virginia for 47.3% of fiscal 2025 state collections and North Carolina for 42.1%, while North Carolina collects more through general sales (30.9% against 18.8%). Total collections were $4,533 per resident in Virginia and $3,628 in North Carolina. Pensions, wages and deductions are taxed by each state's own rules, so prepare both returns with the household's actual income types.
Price the commute and the lease before reading the ratio as savings.
Price levels by category
| Measure | Virginia | North Carolina | Gap |
|---|---|---|---|
| All items | 101.104 | 94.326 | +6.778 |
| Goods | 100.368 | 96.621 | +3.747 |
| Housing (rents) | 106.799 | 81.364 | +25.435 |
| Utilities | 92.185 | 88.619 | +3.566 |
| Other services | 100.233 | 98.186 | +2.047 |
| Real income per person (2017 $) | $61,914 | $56,310 | +$5,604 |
Two state tax mixes, FY2025
Virginia: $40.26 billion, $4,533 per resident. North Carolina: $40.63 billion, $3,628 per resident.
| Tax | VA share | NC share | VA per resident | NC per resident |
|---|---|---|---|---|
| Individual income | 47.3% | 42.1% | $2,143 | $1,526 |
| General sales | 18.8% | 30.9% | $853 | $1,122 |
| Property | 0.1% | not levied | $6 | — |
| Motor fuel | 4.9% | 6.1% | $221 | $222 |
| Other selective sales | 13.5% | 9.6% | $614 | $348 |
| Corporate income | 11.1% | 3.9% | $501 | $141 |
| Licenses | 2.8% | 7.1% | $126 | $258 |
| Severance | 0.0% | 0.0% | $0 | $0 |
| Other taxes | 1.5% | 0.3% | $69 | $11 |
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