Boone cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBooneNorth CarolinaNational
Cost of living index10995100
IndexBooneNorth CarolinaNational
Goods & Services index100100100
Groceries index9799100
Health care index98105100
Housing index13787100
Transportation index9594100
Utilities index9197100
Here we can see a simple outline of the cost of living in Boone, NC. As you can see, with the average cost of living in Boone, NC being 109, that puts it 14% higher than the average of North Carolina and 9% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Boone, NC, the price of goods and services are equal to the average of North Carolina as well as equal to the nation's average.

Did you know?

  • The cost of living in Boone is 14% higher than the North Carolina average.
  • The cost of living in Boone is 9% higher than the national average.
  • The cost of housing in Boone is 37% higher than the national average.
  • North Carolina general sales tax is 7% lower than the national average.
  • North Carolina state income tax is 159% higher than the national average.

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Compare Boone, NC Cost of living To Other Cities

Salary Calculator

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Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is used in order to provide a comparison of your current salary in Boone, NC to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Boone, NC, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Boone, NC salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$67,525$5,627$1,575$2,026
Renters$10,454$871$244$314
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Boone, NC, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Boone, NC has a median income of about $67,525 for people who own homes. Based on that number, a person should spend a maximum of $1,575 on expenses related to housing. Renters have a slightly different median income, which is $10,454. Based on this average, renters should spend no more than $244 on all of their rental costs if they want to maintain a non-impoverished standard of living.

North Carolina Sales Tax

StateGeneral Sales TaxWith Max Surtax
North Carolina4.75%7.5%

North Carolina Income Tax

StateIncome Tax (Low)Income Tax (High)
North Carolina5.75%5.75%
When you are determining the total cost of living in Boone, NC you will want to make sure you consider both the North Carolina sales tax and the North Carolina income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in North Carolina is 4.75%, with the highest surtax being 7.5%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in North Carolina have a range from 5.75% to 5.75%.

Goods & Services

ItemBooneNational avg.Difference
Haircut $15.67$15.560.7%
Beauty Salon $36.45$36.110.9%
Toothpaste $2.18$2.4712.0%
Shampoo $0.99$0.962.2%
Movie $10.67$10.135.4%
Bowling $5.00$4.745.6%

Groceries

ItemBooneNational avg.Difference
Ground Beef $4.40$3.9810.4%
Fried Chicken $1.25$1.4110.9%
Milk $1.74$2.0615.5%
Potatoes $3.17$2.986.3%
Pizza $11.41$9.4720.4%
Beer $8.84$8.790.5%

Health Care

ItemBooneNational avg.Difference
Optometrist $84.33$101.0416.5%
Doctor $87.51$107.4418.6%
Dentist $105.39$90.4216.6%
Ibuprofen $8.08$9.2813.0%
Lipitor $389.46$426.508.7%

Housing

ItemBooneNational avg.Difference
Home Price $275,200.00$175,700.0056.6%
Avg. Mortgage Payment $1,062.90$1,133.236.2%
Apartment Rent $828.00$920.0010.0%

Transportation

ItemBooneNational avg.Difference
Gasoline $1.97$1.991.1%
Tire Balancing $39.32$45.7614.1%

Utilities

ItemBooneNational avg.Difference
All Electricity$156.65$163.814.4%
Phone $24.49$28.3913.7%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
West Jefferson, NC1,50892-8%
Newland, NC72592-8%
Jefferson, NC1,49395-5%
Crossnore, NC27893-7%
Cove Creek, NC1,01896-4%
Boone, NC17,8021099%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Gretna, LA17,80194-6%
Belle Glade, FL17,78589-11%
Wallingford Center, CT17,82412323%
Hannibal, MO17,77985-15%
Tiffin, OH17,83588-12%
Boone, NC17,8021099%
Source: The Boone, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.