Cost of Living in North Carolina: Cities Where Household Expenses are Highest and Lowest in 2024
What is the cost of living in North Carolina? doxo breaks down key insights about North Carolina’s household expenses, with a close look into how bills differ between towns and cities across the state.
According to doxo’s The Cost of Bills Index™ (COBI), the average household in North Carolina pays $1,975 in monthly expenses. doxoINSIGHTS compares the cost of the ten most common household bills across different regions. This includes Utilities, Cable & Phone, Mobile Phone, Auto Loans, Auto Insurance, Life Insurance, Health Insurance, Alarm & Security, Rent, and Mortgage.
The data sheds light on North Carolina’s cost of living through other metrics as well. For example, the “percent of household income” data point shows what percentage of their household income residents spend on bills each month.
By leveraging these tools, residents can gain a clearer understanding of their household expenses and optimize their financial planning.
North Carolina ranks as the 32nd most expensive state in the US for household bills
According to doxo’s COBI report, North Carolina is ranked as the 32nd most expensive state in the U.S. for household bills, making it the least expensive state for these expenses.
At $23,705 per year, North Carolina’s household expenses, on average, are 7% lower than the US average of $25,513.
Absolute dollar amounts don’t tell the full story, however. doxo’s “Percentage of Household Income” data provides a more proportional look at bill spending in a particular location. North Carolina households spend 34% of their income on bills.
COBI helps consumers understand how much it costs to live in one area as compared to another as it relates to the most common household bills. For COBI, the number 100 represents the national average and then, states, counties and cities are assigned a number, either above or below 100, based on how they compare to the national average. The COBI for North Carolina is 93.
- Average Bill Cost per Household: $1,975 per month
- Cost of Bills Index(COBI): 93
- doxoINSIGHTS State Rank: #32
- Percent of Household Income Used for Bills: 34%
- Compared to the National Average: 7% lower
North Carolina Household Expenses are 7% Lower Than the National Average
The average North Carolina household pays $1,975per month in the 10 most common household bills. The least expensive of these are alarm and security bills.
On the lowest end of the spectrum, the average monthly payment for alarm and security bills in North Carolina is $72, compared to the national average of $85, making it 17% lower than average.
Monthly mortgage bills are the most significant of the 10 most common bills for North Carolina residents. The average monthly mortgage payment is $1,599, compared to the national average of $1,402, making it 13% more expensive.
Average North Carolina Household Bill Spending
| Bill Category | Average North Carolina Monthly Bill | National Average Monthly Bill | North Carolina Percent +/- National Average |
| Mortgage | $1,353 | $1,402 | 3% lower |
| Rent | $1,113 | $1,300 | 14% lower |
| Auto Loan | $467 | $496 | 6% lower |
| Utilities | $291 | $362 | 20% lower |
| Auto Insurance | $189 | $209 | 10% lower |
| Health Insurance | $89 | $114 | 22% lower |
| Mobile Phone | $110 | $121 | 9% lower |
| Cable & Internet | $113 | $122 | 7% lower |
| Life Insurance | $75 | $87 | 14% lower |
| Alarm & Security | $88 | $85 | 4% higher |
| Total | $1,975 | $2,126 | 7% lower |
*Household Bill Pay Expense averages shown above reflect the ten most common bills paid, including housing (rent/mortgage).
Cary has the highest cost of living in North Carolina for household bills
Residents of Cary pay the highest household bills in the state of North Carolina, at an average of $2,923 per month. The Cost of Bills Index (COBI) for Cary is 137, meaning the average cost of bills in this city is 37% higher than the national average.
In proportion to household income, monthly bills in Cary makeup 28% of the average annual household income of $126,309.
Access detailed infographics about each city or town by clicking on the hyperlinks in the “City” column in the tables below. You can also browse doxoINSIGHTS’ regional bill comparison database to see infographics about more than 4,200 cities and towns across all 50 states in the US.
10 Most Expensive North Carolina Cities for Household Bills
| Rank | City | Average Income | Monthly Bill Expenses Per Household | Cost of Bills Index (COBI) – Standard | % +/- Than the National Average | Percent of Household Income Used for Bills |
| 1 | Cark | $126,309 | $2,923 | 137 | 37% higher | 28% |
| 2 | Wake Forest | $116,593 | $2,757 | 130 | 30% higher | 28% |
| 3 | Waxhaw | $144,544 | $2,745 | 129 | 29% higher | 23% |
| 4 | Matthews | $111,805 | $2,679 | 126 | 26% higher | 29% |
| 5 | Holly Springs | $121,108 | $2,672 | 126 | 26% higher | 26% |
| 6 | Cornelius | $111,823 | $2,630 | 124 | 24% higher | 28% |
| 7 | Apex | $129,350 | $2,609 | 123 | 23% higher | 24% |
| 8 | Morrisville | $110,458 | $2,584 | 122 | 22% higher | 28% |
| 9 | Mooresville | $93,894 | $2,548 | 120 | 20% higher | 33% |
| 10 | Kitty Hawk | $103,429 | $2,509 | 118 | 18% higher | 29% |
*Household Bill Pay Expense averages shown above reflect the ten most common bills paid, including housing (rent/mortgage).
Maxton has the lowest cost of living in North Carolina for household bills
Out of 193 cities, Maxton is the most affordable place in North Carolina, with residents paying $1,076 on average for household bills, accounting for 36% of annual income of $35,880. The Cost of Bills Index (COBI) for Maxton is 51, meaning the average cost of bills in this city is 49% below the national average.
Forest City is the second most affordable city in North Carolina, with residents paying $1,279 per month on average.
Also on the list of the 10 least expensive cities in North Carolina are Elizabethtown ($1,283), Lenoir ($1,300) and Franklin ($1,396).
10 Most Affordable North Carolina Cities for Household Bills
| Rank | City | Average Income | Monthly Bill Expense Per Household | Cost of Bills Index (COBI) – Standard | % +/- Than the National Average | Percent of Household Income Used for Bills |
| 184 | Canton | $55,261 | $1,420 | 67 | 33% lower | 31% |
| 185 | Hudson | $49,489 | $1,417 | 67 | 33% lower | 34% |
| 186 | Bessemer City | $51,341 | $1,415 | 67 | 33% lower | 33% |
| 187 | Granite Falls | $61,924 | $1,411 | 66 | 34% lower | 27% |
| 188 | Supply | $60,427 | $1,399 | 66 | 34% lower | 28% |
| 189 | Franklin | $48,428 | $1,396 | 66 | 34% lower | 35% |
| 190 | Lenoir | $49,136 | $1,300 | 61 | 39% lower | 32% |
| 191 | Elizabethtown | $36,762 | $1,283 | 60 | 40% lower | 42% |
| 192 | Forest City | $43,770 | $1,279 | 60 | 40% lower | 35% |
| 193 | Maxton | $35,880 | $1,076 | 51 | 49% lower | 36% |
*Household Bill Pay Expense averages shown above reflect the ten most common bills paid, including housing (rent/mortgage).
Some individuals might be considering moving from a more expensive city to a less expensive one. For those making such decisions, doxoINSIGHTS can be a valuable resource. It allows consumers to compare household expenses in North Carolina with average bills in various cities and states nationwide.