Forest Oaks 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.
IndexForest OaksNorth CarolinaNational
Cost of living index10397100
IndexForest OaksNorth CarolinaNational
Goods & Services index94101100
Groceries index100100100
Health care index99104100
Housing index11887100
Transportation index100102100
Utilities index95100100
An overview of the general cost of living index for Forest Oaks, NC is displayed above for your reference. Residents in Forest Oaks, NC enjoy a cost of living index of 103. This index is 6% higher than the North Carolina average, and 3% 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 Forest Oaks, NC, the average cost of goods and services is 6% lower than it is in North Carolina, and it is 6% lower than the national average.

Did you know?

  • The cost of living in Forest Oaks is 6% higher than the North Carolina average.
  • The cost of living in Forest Oaks is 3% higher than the national average.
  • The cost of housing in Forest Oaks is 18% 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 Forest Oaks, 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
The salary calculator allows you to compare how much your current salary in Forest Oaks, 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 Forest Oaks, NC, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Forest Oaks, 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)
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Forest Oaks, 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 Forest Oaks, NC homeowners have a median income of $79,318. Using that number, you will come up with a maximum of $1,851 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $0, which means there is a maximum of $0 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 assessing the complete cost of living in Forest Oaks, 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

ItemForest OaksNational avg.Difference
Haircut $12.00$14.5917.8%
Beauty Salon $39.33$34.6813.4%
Toothpaste $2.32$2.476.2%
Shampoo $1.13$1.0210.6%
Movie $10.25$9.873.9%
Bowling $4.50$4.392.5%


ItemForest OaksNational avg.Difference
Ground Beef $4.76$4.486.3%
Fried Chicken $1.64$1.4612.0%
Milk $2.66$2.3612.9%
Potatoes $3.41$3.0611.4%
Pizza $8.00$9.2413.4%
Beer $8.24$8.634.6%

Health Care

ItemForest OaksNational avg.Difference
Optometrist $95.00$99.784.8%
Doctor $99.50$105.035.3%
Dentist $86.33$88.702.7%
Ibuprofen $9.46$9.410.5%
Lipitor $313.26$298.504.9%


ItemForest OaksNational avg.Difference
Home Price $207,200.00$175,700.0017.9%
Avg. Mortgage Payment $789.27$1,081.0327.0%
Apartment Rent $0.00$920.00100.0%


ItemForest OaksNational avg.Difference
Gasoline $2.19$2.094.6%
Tire Balancing $39.50$45.2912.8%


ItemForest OaksNational avg.Difference
All Electricity$170.97$170.800.1%
Phone $25.01$28.2611.5%
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.
McLeansville, NC93487-13%
Altamahaw, NC37688-12%
Liberty, NC2,66688-12%
Staley, NC52188-12%
Randleman, NC4,14386-14%
Forest Oaks, NC3,3781033%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Breckenridge, MN3,37885-15%
Grasonville, MD3,37911111%
Panther Valley, NJ3,37612222%
Muldrow, OK3,37586-14%
Holts Summit, MO3,38190-10%
Forest Oaks, NC3,3781033%
Source: The Forest Oaks, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.