Henderson 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.
IndexHendersonNorth CarolinaNational
Cost of living index8897100
IndexHendersonNorth CarolinaNational
Goods & Services index97101100
Groceries index96100100
Health care index101104100
Housing index6587100
Transportation index111102100
Utilities index88100100
A general overview of the cost of living index for Henderson, NC is displayed above. In Henderson, NC, the overall cost of living index is 88, which is 9% lower than the North Carolina average and 12% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Henderson, NC, the city's goods and services are 4% lower than the North Carolina average and 4% lower than the U.S. average.

Did you know?

  • The cost of living in Henderson is 9% lower than the North Carolina average.
  • The cost of living in Henderson is 12% lower than the national average.
  • The cost of housing in Henderson is 35% 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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Salary Calculator

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Use the salary calculator to compare your current income in Henderson, 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 Henderson, NC, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Henderson, 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$41,714$3,476$973$1,252
Renters$17,896$1,491$418$537
The affordability of the housing market in Henderson, NC as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Henderson, NC homeowners, the median income is $41,714. This indicates that a monthly maximum of $973 should be spent by homeowners on all housing related costs. Renters have a median income of $17,896. This indicates that renters should have a maximum of $418 used for their rent related monthly 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 Henderson, 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

ItemHendersonNational avg.Difference
Haircut $11.40$14.5921.9%
Beauty Salon $45.60$34.6831.5%
Toothpaste $2.39$2.473.4%
Shampoo $1.11$1.028.6%
Movie $9.67$9.872.0%
Bowling $4.25$4.393.2%

Groceries

ItemHendersonNational avg.Difference
Ground Beef $4.30$4.483.9%
Fried Chicken $1.56$1.466.6%
Milk $2.54$2.367.8%
Potatoes $3.26$3.066.5%
Pizza $8.99$9.242.7%
Beer $8.53$8.631.2%

Health Care

ItemHendersonNational avg.Difference
Optometrist $111.00$99.7811.2%
Doctor $103.75$105.031.2%
Dentist $90.33$88.701.8%
Ibuprofen $8.86$9.415.9%
Lipitor $304.18$298.501.9%

Housing

ItemHendersonNational avg.Difference
Home Price $109,300.00$175,700.0037.8%
Avg. Mortgage Payment $737.33$1,081.0331.8%
Apartment Rent $643.00$920.0030.1%

Transportation

ItemHendersonNational avg.Difference
Gasoline $2.31$2.0910.6%
Tire Balancing $50.00$45.2910.4%

Utilities

ItemHendersonNational avg.Difference
All Electricity$172.23$170.800.8%
Phone $19.95$28.2629.4%
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.
South Henderson, NC94177-23%
Norlina, NC96881-19%
Kittrell, NC23983-17%
Middleburg, NC17783-17%
Stovall, NC32787-13%
Henderson, NC15,32588-12%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Spanish Springs, NV15,32211717%
Hereford, TX15,33080-20%
Altoona, IA15,31791-9%
Kenmore, NY15,33485-15%
Leland, NC15,3161055%
Henderson, NC15,32588-12%
Source: The Henderson, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.