Kernersville, NC Cost Of Living

Kernersville 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.
Index	Kernersville	North Carolina	National
Cost of living index	98	94	100
Index	Kernersville	North Carolina	National
Goods & Services index	98	98	100
Groceries index	99	98	100
Health care index	115	107	100
Housing index	87	85	100
Transportation index	110	98	100
Utilities index	110	96	100

A general summary of the cost of living index in Kernersville, NC is shown above. Compared to the state average of North Carolina the cost of living index in Kernersville, NC is 98, which is 4% higher than the average in North Carolina and compared to the national average it is 2% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Kernersville, NC goods and services come in at equal to the average in North Carolina and are 2% lower than compared to the nationwide average.

Did you know?

The cost of living in Kernersville is 4% higher than the North Carolina average.
The cost of living in Kernersville is 2% lower than the national average.
The cost of housing in Kernersville is 13% 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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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Using the salary calculator lets you compare the salary you earn in Kernersville, NC to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Kernersville, NC, you have to earn a higher income in order to still have the same standard of living. To operate the Kernersville, NC salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$73,561	$6,130	$1,716	$2,207
Renters	$31,204	$2,600	$728	$936

One can approximate the cost of living and the housing affordability in Kernersville, NC by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Kernersville, NC have a median income of $73,561. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,716 per month to avoid calamity and poverty. The renters in the city have an income of about $31,204, which would make their monthly maximum allowable rental costs $728.

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	5.75%	5.75%

The North Carolina sales tax and North Carolina income tax rates should definitely be considered when determining the overall cost of living in Kernersville, NC. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The North Carolina sales tax is 4.75% and the maximum surtax is 7.5%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The North Carolina income tax rates range from 5.75% to 5.75%.

Goods & Services

Item	Kernersville	National avg.	Difference
Haircut	$21.09	$16.09	31.1%
Beauty Salon	$42.13	$37.33	12.9%
Toothpaste	$2.46	$2.45	0.4%
Shampoo	$1.33	$1.00	32.9%
Movie	$10.48	$10.28	1.9%
Bowling	$4.87	$4.93	1.3%

Groceries

Item	Kernersville	National avg.	Difference
Ground Beef	$3.37	$3.80	11.3%
Fried Chicken	$1.58	$1.40	13.4%
Milk	$1.67	$2.01	16.8%
Potatoes	$3.42	$3.01	13.6%
Pizza	$9.06	$9.89	8.4%
Beer	$8.65	$8.90	2.7%

Health Care

Item	Kernersville	National avg.	Difference
Optometrist	$122.89	$102.16	20.3%
Doctor	$129.71	$108.36	19.7%
Dentist	$113.03	$92.53	22.2%
Ibuprofen	$9.01	$9.28	2.9%
Lipitor	$420.49	$425.82	1.3%

Housing

Item	Kernersville	National avg.	Difference
Home Price	$170,200.00	$184,700.00	7.9%
Avg. Mortgage Payment	$783.13	$1,202.44	34.9%
Apartment Rent	$726.00	$949.00	23.5%

Transportation

Item	Kernersville	National avg.	Difference
Gasoline	$2.20	$2.24	2.0%
Tire Balancing	$62.94	$46.29	36.0%

Utilities

Item	Kernersville	National avg.	Difference
All Electricity	$155.87	$165.96	6.1%
Phone	$37.04	$28.68	29.1%

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, State	Population	Cost of Living Index	National Avg.
Germanton, NC	858	89	-11%
Walnut Cove, NC	1,565	91	-9%
Rural Hall, NC	3,079	92	-8%
Walkertown, NC	4,900	93	-7%
Archdale, NC	11,483	86	-14%
Kernersville, NC	23,736	98	-2%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Elk River, MN	23,743	107	7%
Riverbank, CA	23,761	110	10%
The Crossings, FL	23,681	115	15%
Palm City, FL	23,668	118	18%
Mequon, WI	23,663	122	22%
Kernersville, NC	23,736	98	-2%

Source: The Kernersville, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Kernersville, NC Cost of Living