Davidson 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.
IndexDavidsonNorth CarolinaNational
Cost of living index12597100
IndexDavidsonNorth CarolinaNational
Goods & Services index97101100
Groceries index100100100
Health care index101104100
Housing index18387100
Transportation index100102100
Utilities index110100100
An overview of the general cost of living index for Davidson, NC is displayed above for your reference. Residents in Davidson, NC enjoy a cost of living index of 125. This index is 29% higher than the North Carolina average, and 25% 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 Davidson, NC, the average cost of goods and services is 3% lower than it is in North Carolina, and it is 3% lower than the national average.

Did you know?

  • The cost of living in Davidson is 29% higher than the North Carolina average.
  • The cost of living in Davidson is 25% higher than the national average.
  • The cost of housing in Davidson is 83% 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
The salary calculator allows you to compare how much your current salary in Davidson, NC would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Davidson, NC, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Davidson, NC salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Davidson, NC as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Davidson, NC homeowners, is $120,739. This would allow for a maximum of $2,817 per month to be spent on housing costs. For renters, the median monthly income is $45,556 which would result in a maximum of $1,063 to be spent on rental 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%
For those who live in Davidson, NC and want to know what the true cost of living is, they ought to look at both the North Carolina income tax rate and the North Carolina sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In North Carolina, the sales tax is 4.75%, while the most you'll pay in surtax is 7.5%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in North Carolina, the income tax rate ranges between 5.75% to 5.75%.

Goods & Services

ItemDavidsonNational avg.Difference
Haircut $12.40$14.5915.0%
Beauty Salon $36.40$34.685.0%
Toothpaste $2.52$2.471.9%
Shampoo $1.08$1.025.7%
Movie $10.39$9.875.3%
Bowling $5.97$4.3935.9%


ItemDavidsonNational avg.Difference
Ground Beef $4.51$4.480.7%
Fried Chicken $1.59$1.468.6%
Milk $2.59$2.369.9%
Potatoes $3.37$3.0610.1%
Pizza $8.49$9.248.1%
Beer $8.34$8.633.4%

Health Care

ItemDavidsonNational avg.Difference
Optometrist $119.20$99.7819.5%
Doctor $95.20$105.039.4%
Dentist $91.20$88.702.8%
Ibuprofen $9.12$9.413.1%
Lipitor $322.28$298.508.0%


ItemDavidsonNational avg.Difference
Home Price $379,200.00$175,700.00115.8%
Avg. Mortgage Payment $879.18$1,081.0318.7%
Apartment Rent $971.00$920.005.5%


ItemDavidsonNational avg.Difference
Gasoline $2.19$2.094.9%
Tire Balancing $39.18$45.2913.5%


ItemDavidsonNational avg.Difference
All Electricity$170.61$170.800.1%
Phone $35.01$28.2623.9%
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, NC4,15590-10%
Stanley, NC3,59191-9%
Enochville, NC2,66492-8%
Kannapolis, NC43,86593-7%
Landis, NC3,10494-6%
Davidson, NC11,49212525%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Shiloh, PA11,4931022%
Artesia, NM11,49490-10%
Wallington, NJ11,48713434%
Cedarburg, WI11,4851088%
River Edge, NJ11,48315959%
Davidson, NC11,49212525%
Source: The Davidson, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.