Hickory 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.
IndexHickoryNorth CarolinaNational
Cost of living index9597100
IndexHickoryNorth CarolinaNational
Goods & Services index97101100
Groceries index100100100
Health care index101104100
Housing index8487100
Transportation index100102100
Utilities index110100100
A general overview of the cost of living index for Hickory, NC is displayed above. In Hickory, NC, the overall cost of living index is 95, which is 1% lower than the North Carolina average and 5% 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 Hickory, NC, the city's goods and services are 3% lower than the North Carolina average and 3% lower than the U.S. average.

Did you know?

  • The cost of living in Hickory is 1% lower than the North Carolina average.
  • The cost of living in Hickory is 5% lower than the national average.
  • The cost of housing in Hickory is 16% 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 Hickory, NC Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Groceries index
Health care index
Housing index
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The salary calculator allows you to compare how much your current salary in Hickory, 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 Hickory, NC, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Hickory, 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)
Owners$60,438$5,037$1,410$1,813
Renters$29,920$2,493$698$898
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Hickory, 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 Hickory, NC homeowners have a median income of $60,438. Using that number, you will come up with a maximum of $1,410 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $29,920, which means there is a maximum of $698 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%
One thing to keep in mind when considering the cost of living in Hickory, NC is the North Carolina sales tax and North Carolina income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The North Carolina sales tax rate is 4.75% and the maximum surtax that can be charged is 7.5%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The North Carolina income tax rates range from 5.75% to 5.75%.

Goods & Services

ItemHickoryNational 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%

Groceries

ItemHickoryNational 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

ItemHickoryNational 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%

Housing

ItemHickoryNational avg.Difference
Home Price $155,800.00$175,700.0011.3%
Avg. Mortgage Payment $879.18$1,081.0318.7%
Apartment Rent $677.00$920.0026.4%

Transportation

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

Utilities

ItemHickoryNational 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.
Hiddenite, NC78585-15%
Rhodhiss, NC98886-14%
Brookford, NC41586-14%
Catawba, NC70687-13%
Icard, NC3,19487-13%
Hickory, NC40,10895-5%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Prescott, AZ40,1301055%
Carol Stream, IL40,13611212%
Holyoke, MA40,07911414%
San Gabriel, CA40,17315757%
Coppell, TX40,02112121%
Hickory, NC40,10895-5%
Source: The Hickory, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.