Lincolnton 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.
IndexLincolntonNorth CarolinaNational
Cost of living index9197100
IndexLincolntonNorth CarolinaNational
Goods & Services index97101100
Groceries index100100100
Health care index101104100
Housing index7187100
Transportation index100102100
Utilities index110100100
An overview of the general cost of living index for Lincolnton, NC is displayed above for your reference. Residents in Lincolnton, NC enjoy a cost of living index of 91. This index is 6% lower than the North Carolina average, and 9% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Lincolnton, NC, the average cost of goods and services is 3% lower than it is in North Carolina, and it is 3% lower than the national average.

Did you know?

  • The cost of living in Lincolnton is 6% lower than the North Carolina average.
  • The cost of living in Lincolnton is 9% lower than the national average.
  • The cost of housing in Lincolnton is 29% 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.

Find Real Estate Listings In Lincolnton

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Lincolnton

Compare Lincolnton, 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 Lincolnton, 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 Lincolnton, NC, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Lincolnton, 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$53,227$4,436$1,242$1,597
Renters$22,493$1,874$525$675
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Lincolnton, 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 Lincolnton, NC homeowners have a median income of $53,227. Using that number, you will come up with a maximum of $1,242 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $22,493, which means there is a maximum of $525 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 Lincolnton, 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

ItemLincolntonNational 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

ItemLincolntonNational 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

ItemLincolntonNational 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

ItemLincolntonNational avg.Difference
Home Price $124,000.00$175,700.0029.4%
Avg. Mortgage Payment $879.18$1,081.0318.7%
Apartment Rent $655.00$920.0028.8%

Transportation

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

Utilities

ItemLincolntonNational 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.
Dellview, NC51000%
Light Oak, NC79881-19%
Waco, NC29486-14%
High Shoals, NC55987-13%
Bessemer City, NC5,41088-12%
Lincolnton, NC10,60191-9%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Vidalia, GA10,59685-15%
Bound Brook, NJ10,60712222%
Forestville, OH10,59598-2%
Gardere, LA10,59490-10%
Halfway, MD10,609100-0%
Lincolnton, NC10,60191-9%
Source: The Lincolnton, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.