Lake Norman of Catawba 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.
IndexLake Norman of CatawbaNorth CarolinaNational
Cost of living index12395100
IndexLake Norman of CatawbaNorth CarolinaNational
Goods & Services index102100100
Groceries index9499100
Health care index104105100
Housing index17987100
Transportation index9794100
Utilities index9297100
Displayed above is a general overview of the Lake Norman of Catawba, NC cost of living index. The overall cost of living index in Lake Norman of Catawba, NC is 123, which is 29% higher than the North Carolina average and 23% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Lake Norman of Catawba, NC are 1% higher than the North Carolina average and 2% higher than the national average.

Did you know?

  • The cost of living in Lake Norman of Catawba is 29% higher than the North Carolina average.
  • The cost of living in Lake Norman of Catawba is 23% higher than the national average.
  • The cost of housing in Lake Norman of Catawba is 79% 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.

Find Real Estate Listings In Lake Norman of Catawba

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Lake Norman of Catawba

Compare Lake Norman of Catawba, 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 is used in order to provide a comparison of your current salary in Lake Norman of Catawba, 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 Lake Norman of Catawba, NC, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Lake Norman of Catawba, 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$75,893$6,324$1,771$2,277
Renters$39,157$3,263$914$1,175
If you want to find a good determining factor for the cost of living and the general affordability of housing in Lake Norman of Catawba, NC, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Lake Norman of Catawba, NC, the median monthly income is $75,893 for those who own their own homes. Under the standard rule, that income level would allow for $1,771 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $39,157, per the median income in the area. That would allow for renters to spend up to $914 on monthly rental expenses.

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 Lake Norman of Catawba, 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

ItemLake Norman of CatawbaNational avg.Difference
Haircut $16.25$15.564.4%
Beauty Salon $34.87$36.113.4%
Toothpaste $2.89$2.4716.8%
Shampoo $1.04$0.968.1%
Movie $10.55$10.134.2%
Bowling $5.57$4.7417.6%

Groceries

ItemLake Norman of CatawbaNational avg.Difference
Ground Beef $3.85$3.983.5%
Fried Chicken $1.34$1.415.0%
Milk $1.95$2.065.5%
Potatoes $3.05$2.982.3%
Pizza $9.09$9.474.1%
Beer $8.69$8.791.2%

Health Care

ItemLake Norman of CatawbaNational avg.Difference
Optometrist $114.36$101.0413.2%
Doctor $100.31$107.446.6%
Dentist $111.42$90.4223.2%
Ibuprofen $6.63$9.2828.5%
Lipitor $389.57$426.508.7%

Housing

ItemLake Norman of CatawbaNational avg.Difference
Home Price $363,600.00$175,700.00106.9%
Avg. Mortgage Payment $871.06$1,133.2323.1%
Apartment Rent $1,052.00$920.0014.3%

Transportation

ItemLake Norman of CatawbaNational avg.Difference
Gasoline $1.95$1.992.0%
Tire Balancing $43.26$45.765.5%

Utilities

ItemLake Norman of CatawbaNational avg.Difference
All Electricity$156.74$163.814.3%
Phone $25.00$28.3911.9%
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.
High Shoals, NC55986-14%
Catawba, NC70686-14%
Newton, NC12,99889-11%
Maiden, NC3,33989-11%
Lincolnton, NC10,60190-10%
Lake Norman of Catawba, NC7,33112323%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Kronenwetter, WI7,33095-5%
Northgate, OH7,33291-9%
Middletown, KY7,33397-3%
Selah, WA7,3281066%
New Square, NY7,32813535%
Lake Norman of Catawba, NC7,33112323%
Source: The Lake Norman of Catawba, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.