Matthews 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.
IndexMatthewsNorth CarolinaNational
Cost of living index10495100
IndexMatthewsNorth CarolinaNational
Goods & Services index102100100
Groceries index9499100
Health care index104105100
Housing index11787100
Transportation index9794100
Utilities index9297100
Displayed above is a general overview of the Matthews, NC cost of living index. The overall cost of living index in Matthews, NC is 104, which is 9% higher than the North Carolina average and 4% 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 Matthews, NC are 1% higher than the North Carolina average and 2% higher than the national average.

Did you know?

  • The cost of living in Matthews is 9% higher than the North Carolina average.
  • The cost of living in Matthews is 4% higher than the national average.
  • The cost of housing in Matthews is 17% 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.

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Salary Calculator

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The salary calculator allows you to compare how much your current salary in Matthews, 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 Matthews, NC, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Matthews, 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$87,074$7,256$2,032$2,612
Renters$38,887$3,241$907$1,167
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Matthews, NC as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Matthews, NC homeowners, is $87,074. This would allow for a maximum of $2,032 per month to be spent on housing costs. For renters, the median monthly income is $38,887 which would result in a maximum of $907 to be spent on rental 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 you are determining the total cost of living in Matthews, NC you will want to make sure you consider both the North Carolina sales tax and the North Carolina income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in North Carolina is 4.75%, with the highest surtax being 7.5%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in North Carolina have a range from 5.75% to 5.75%.

Goods & Services

ItemMatthewsNational 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

ItemMatthewsNational 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

ItemMatthewsNational 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

ItemMatthewsNational avg.Difference
Home Price $215,600.00$175,700.0022.7%
Avg. Mortgage Payment $871.06$1,133.2323.1%
Apartment Rent $969.00$920.005.3%

Transportation

ItemMatthewsNational avg.Difference
Gasoline $1.95$1.992.0%
Tire Balancing $43.26$45.765.5%

Utilities

ItemMatthewsNational 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.
Wingate, NC3,70891-9%
Monroe, NC33,58894-6%
Hemby Bridge, NC1,34194-6%
Pineville, NC7,85594-6%
Midland, NC3,18396-4%
Matthews, NC28,6771044%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Atwater, CA28,6861033%
Northampton, MA28,63712020%
Suisun City, CA28,62712424%
Agawam Town, MA28,62611919%
Jacksonville, AR28,72889-11%
Matthews, NC28,6771044%
Source: The Matthews, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.