A+
4%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
14%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Elizabeth City North Carolina National
Cost of living9694100
Goods & Services10098100
Groceries10198100
Health care96108100
Housing8685100
Transportation10092100
Utilities10594100

An Overview of Cost of Living in Elizabeth City, NC

Knowing the cost of living in Elizabeth City allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Elizabeth City stands at 96, marking it 4% lower than the national average.

The cost of living in Elizabeth City is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

What Do Locals Say About the Cost of Living in Elizabeth City?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 6 locals to understand their opinions on the cost of living in Elizabeth City. The results indicated that 50% found it reasonably priced with decreasing prices of goods and services, while 50% viewed it as quite expensive, with increasing prices.

Is Elizabeth City Affordable?

Is Elizabeth City affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Elizabeth City, for instance, where the median home price falls 19.1% lower than the national average, and monthly rent rates are 1.2% lower than usual. Additionally, median income levels contribute to the equation, with Elizabeth City flaunting a median household income of $43,024, 22.2% lower than the national norm.

What Factors can Influence the Cost of Living in Elizabeth City?

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Elizabeth City, the utilities index stands at 4.8% higher than the national average.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Elizabeth City, the housing index comes in at 13.7% lower than the national average.

Where is the Data From?

The cost of living in Elizabeth City, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

New Real Estate Listings in Elizabeth City Area
Search Homes for Sale in Elizabeth City, NC

Cost Of Living Quick Facts

  • The cost of living in Elizabeth City is 3% higher than the North Carolina average
  • The cost of living in Elizabeth City is 4% lower than the national average
  • Elizabeth City housing is 14% lower than the national average
  • North Carolina general sales tax is 7% lower than the national average
  • North Carolina state income tax is 121% higher than the national average

Most Affordable Places to Live in and Around Elizabeth City

See all the best places to live around Elizabeth City

Compare Elizabeth City, NC Cost of Living

      vs
      How would you rate the cost of living in Elizabeth City?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Elizabeth City?
      Write a review to give others more information about this area.
      See all Elizabeth City poll results

      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$61,709$5,142$1,440$1,851
      Renters$37,167$3,097$867$1,115
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Elizabeth City, NC, as well as what the overall cost of living might be. 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 payments and not more than 36 percent of income on all expenses and debts. In Elizabeth City, homeowners have a median income of $61,709. Using that number, a maximum of $1,440 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $37,167, which means there is a maximum of $867 to be spent on the costs of renting a home or apartment.

      North Carolina Sales Tax

      State General Sales Tax With Max Surtax
      North Carolina 4.75% 7.5%

      North Carolina Income Tax

      State Income Tax (Low) Income Tax (High)
      North Carolina 4.99% 4.99%

      Goods & Services

      Item Elizabeth City National avg. Difference
      Haircut $20.00$24.2617.6%
      Beauty Salon $54.17$45.5618.9%
      Toothpaste $3.72$3.700.5%
      Shampoo $1.26$1.281.3%
      Movie $13.31$12.139.7%
      Bowling $24.17$18.0034.3%

      Groceries

      Item Elizabeth City National avg. Difference
      Ground Beef $5.54$5.845.2%
      Fried Chicken $1.44$1.578.5%
      Milk $4.63$4.671.0%
      Potatoes $5.27$4.936.8%
      Pizza $12.72$12.095.3%
      Beer $10.64$10.412.2%

      Health Care

      Item Elizabeth City National avg. Difference
      Optometrist $95.44$125.6824.1%
      Doctor $122.83$135.789.5%
      Dentist $109.67$113.293.2%
      Ibuprofen $10.76$10.651.0%
      Lipitor $489.65$468.604.5%

      Housing

      Item Elizabeth City National avg. Difference
      Home Price $149,400.00$184,700.0019.1%
      Avg. Mortgage Payment $2,083.79$2,346.6911.2%
      Apartment Rent $938.00$949.001.2%

      Transportation

      Item Elizabeth City National avg. Difference
      Gasoline $3.27$3.465.5%
      Tire Balancing $60.00$59.920.1%

      Utilities

      Item Elizabeth City National avg. Difference
      All Electricity $227.22$193.9917.1%
      Phone $185.33$192.253.6%
      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 Population Cost of Living Index National Avg.
      South Mills, NC391936.6%
      Hertford, NC2,126946.1%
      Camden, NC9141054.6%
      Winfall, NC82011312.6%
      Moyock, NC5,18011817.8%
      Elizabeth City, NC17,725963.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Ferndale, MD17,73211615.9%
      White Settlement, TX17,716972.8%
      Natchitoches, LA17,711927.6%
      Gretna, LA17,746946.0%
      Takoma Park, MD17,70315958.7%
      Elizabeth City, NC17,725963.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.