Cary 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.
IndexCaryNorth CarolinaNational
Cost of living index11496100
IndexCaryNorth CarolinaNational
Goods & Services index100101100
Groceries index100100100
Health care index99104100
Housing index14985100
Transportation index99102100
Utilities index98100100
An overview of the general cost of living index for Cary, NC is displayed above for your reference. Residents in Cary, NC enjoy a cost of living index of 114. This index is 19% higher than the North Carolina average, and 14% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Cary, NC, the average cost of goods and services is equal to it is in North Carolina, and it is equal to the national average.

Did you know?

  • The cost of living in Cary is 19% higher than the North Carolina average.
  • The cost of living in Cary is 14% higher than the national average.
  • The cost of housing in Cary is 49% 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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Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Using the salary calculator lets you compare the salary you earn in Cary, NC to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Cary, NC, you have to earn a higher income in order to still have the same standard of living. To operate the Cary, NC salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$115,835$9,653$2,703$3,475
Renters$49,515$4,126$1,155$1,486
The affordability of the housing market in Cary, NC as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Cary, NC homeowners, the median income is $115,835. This indicates that a monthly maximum of $2,703 should be spent by homeowners on all housing related costs. Renters have a median income of $49,515. This indicates that renters should have a maximum of $1,155 used for their rent related monthly costs.

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 assessing the complete cost of living in Cary, NC, the North Carolina income tax and the North Carolina sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The North Carolina maximum surtax is 7.5%, and the North Carolina sales tax is 4.75%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 5.75% to 5.75% in North Carolina.

Goods & Services

ItemCaryNational avg.Difference
Haircut $18.57$14.5927.3%
Beauty Salon $40.57$34.6817.0%
Toothpaste $2.44$2.471.3%
Shampoo $1.01$1.021.2%
Movie $9.86$9.870.1%
Bowling $4.44$4.391.1%

Groceries

ItemCaryNational avg.Difference
Ground Beef $4.69$4.484.8%
Fried Chicken $1.35$1.467.8%
Milk $2.50$2.366.1%
Potatoes $3.64$3.0618.9%
Pizza $9.27$9.240.3%
Beer $8.62$8.630.1%

Health Care

ItemCaryNational avg.Difference
Optometrist $98.75$99.781.0%
Doctor $95.79$105.038.8%
Dentist $98.29$88.7010.8%
Ibuprofen $9.61$9.412.1%
Lipitor $258.40$298.5013.4%

Housing

ItemCaryNational avg.Difference
Home Price $302,500.00$181,400.0066.8%
Avg. Mortgage Payment $797.74$1,081.0326.2%
Apartment Rent $944.00$889.006.2%

Transportation

ItemCaryNational avg.Difference
Gasoline $2.22$2.096.3%
Tire Balancing $35.50$45.2921.6%

Utilities

ItemCaryNational avg.Difference
All Electricity$147.80$170.8013.5%
Phone $31.99$28.2613.2%
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.
Blue Clay Farms, NC5597-3%
Garner, NC25,78498-2%
Durham, NC229,96397-3%
Fuquay-Varina, NC18,1431011%
Raleigh, NC405,0071033%
Cary, NC136,62711414%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Orange, CA136,89115252%
Pasadena, CA137,31616161%
Hampton, VA137,4711022%
Savannah, GA137,69097-3%
Fullerton, CA135,41914747%
Cary, NC136,62711414%
Source: The Cary, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.