Hamlet 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.
IndexHamletNorth CarolinaNational
Cost of living index8895100
IndexHamletNorth CarolinaNational
Goods & Services index107100100
Groceries index9699100
Health care index105105100
Housing index5787100
Transportation index9494100
Utilities index9697100
Here we can see a simple outline of the cost of living in Hamlet, NC. As you can see, with the average cost of living in Hamlet, NC being 88, that puts it 8% lower than the average of North Carolina and 12% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Hamlet, NC, the price of goods and services are 6% higher than the average of North Carolina as well as 7% higher than the nation's average.

Did you know?

  • The cost of living in Hamlet is 8% lower than the North Carolina average.
  • The cost of living in Hamlet is 12% lower than the national average.
  • The cost of housing in Hamlet is 43% 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.

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Compare Hamlet, NC Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Cost of living index
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Groceries index
Health care index
Housing index
Transportation index
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The salary calculator is used in order to provide a comparison of your current salary in Hamlet, NC to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Hamlet, NC, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Hamlet, NC salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$47,821$3,985$1,116$1,435
Renters$25,813$2,151$602$774
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Hamlet, 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 Hamlet, NC homeowners, is $47,821. This would allow for a maximum of $1,116 per month to be spent on housing costs. For renters, the median monthly income is $25,813 which would result in a maximum of $602 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%
When considering the overall cost of living expenses in Hamlet, NC, it's important to take into account the sales tax for North Carolina, as well as the rate for income tax in North Carolina. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for North Carolina is 7.5%, and the sales tax in the state of North Carolina is 4.75%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in North Carolina starts from 5.75% and goes up to 5.75%.

Goods & Services

ItemHamletNational avg.Difference
Haircut $21.94$15.5640.9%
Beauty Salon $33.93$36.116.0%
Toothpaste $2.90$2.4717.5%
Shampoo $0.98$0.961.1%
Movie $10.95$10.138.2%
Bowling $7.61$4.7460.8%

Groceries

ItemHamletNational avg.Difference
Ground Beef $3.75$3.985.8%
Fried Chicken $1.70$1.4120.7%
Milk $1.96$2.065.3%
Potatoes $2.98$2.980.1%
Pizza $8.36$9.4711.8%
Beer $9.36$8.796.4%

Health Care

ItemHamletNational avg.Difference
Optometrist $110.99$101.049.8%
Doctor $101.25$107.445.8%
Dentist $105.89$90.4217.1%
Ibuprofen $8.70$9.286.2%
Lipitor $421.18$426.501.2%

Housing

ItemHamletNational avg.Difference
Home Price $94,200.00$175,700.0046.4%
Avg. Mortgage Payment $807.44$1,133.2328.7%
Apartment Rent $593.00$920.0035.5%

Transportation

ItemHamletNational avg.Difference
Gasoline $1.85$1.997.2%
Tire Balancing $44.22$45.763.4%

Utilities

ItemHamletNational avg.Difference
All Electricity$167.65$163.812.3%
Phone $24.96$28.3912.1%
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.
Old Hundred, NC27674-26%
Dobbins Heights, NC78683-17%
East Rockingham, NC4,06983-17%
Ellerbe, NC1,55484-16%
Laurel Hill, NC97485-15%
Hamlet, NC6,56688-12%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Inverness Highlands South, FL6,56687-13%
Gridley, CA6,5661033%
Gibsonville, NC6,56592-8%
New Milford, CT6,56812020%
Lacy-Lakeview, TX6,56982-18%
Hamlet, NC6,56688-12%
Source: The Hamlet, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.