Concord 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.
IndexConcordNorth CarolinaNational
Cost of living index9795100
IndexConcordNorth CarolinaNational
Goods & Services index102100100
Groceries index9499100
Health care index104105100
Housing index9387100
Transportation index9794100
Utilities index9297100
The above illustration supplies generalized information for the Concord, NC cost of living index. Compared to other cities in North Carolina and cities across the country, the cost of living index in Concord, NC is 97, which is 2% higher than the North Carolina average and 3% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Concord, NC are 1% higher than the average for North Carolina and 2% higher than the rest of the country.

Did you know?

  • The cost of living in Concord is 2% higher than the North Carolina average.
  • The cost of living in Concord is 3% lower than the national average.
  • The cost of housing in Concord is 7% lower 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.

Find Real Estate Listings In Concord

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Concord

Compare Concord, NC Cost of living To Other Cities

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
Use the salary calculator to compare your current income in Concord, NC to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Concord, NC, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Concord, NC salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$71,250$5,938$1,662$2,138
Renters$34,963$2,914$816$1,049
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Concord, NC, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Concord, NC homeowners have a median income of $71,250. Using that number, you will come up with a maximum of $1,662 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $34,963, which means there is a maximum of $816 to be spent on the costs of renting a home or apartment.

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 Concord, 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

ItemConcordNational avg.Difference
Haircut $16.25$15.564.4%
Beauty Salon $34.87$36.113.4%
Toothpaste $2.89$2.4716.8%
Shampoo $1.04$0.968.1%
Movie $10.55$10.134.2%
Bowling $5.57$4.7417.6%

Groceries

ItemConcordNational avg.Difference
Ground Beef $3.85$3.983.5%
Fried Chicken $1.34$1.415.0%
Milk $1.95$2.065.5%
Potatoes $3.05$2.982.3%
Pizza $9.09$9.474.1%
Beer $8.69$8.791.2%

Health Care

ItemConcordNational avg.Difference
Optometrist $114.36$101.0413.2%
Doctor $100.31$107.446.6%
Dentist $111.42$90.4223.2%
Ibuprofen $6.63$9.2828.5%
Lipitor $389.57$426.508.7%

Housing

ItemConcordNational avg.Difference
Home Price $167,800.00$175,700.004.5%
Avg. Mortgage Payment $871.06$1,133.2323.1%
Apartment Rent $809.00$920.0012.1%

Transportation

ItemConcordNational avg.Difference
Gasoline $1.95$1.992.0%
Tire Balancing $43.26$45.765.5%

Utilities

ItemConcordNational avg.Difference
All Electricity$156.74$163.814.3%
Phone $25.00$28.3911.9%
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.
China Grove, NC4,15584-16%
Rockwell, NC1,80186-14%
Enochville, NC2,66490-10%
Kannapolis, NC43,86591-9%
Red Cross, NC69092-8%
Concord, NC82,26697-3%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Buena Park, CA82,19114040%
Sugar Land, TX82,42011414%
Troy, MI82,1061099%
Bellingham, WA82,08011919%
Warwick, RI82,06511515%
Concord, NC82,26697-3%
Source: The Concord, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.