Mount Holly 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.
IndexMount HollyNorth CarolinaNational
Cost of living index9595100
IndexMount HollyNorth CarolinaNational
Goods & Services index102100100
Groceries index9499100
Health care index104105100
Housing index8787100
Transportation index9794100
Utilities index9297100
A general overview of the cost of living index for Mount Holly, NC is displayed above. In Mount Holly, NC, the overall cost of living index is 95, which is equal to 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 Mount Holly, NC, the city's goods and services are 1% higher than the North Carolina average and 2% higher than the U.S. average.

Did you know?

  • The cost of living in Mount Holly is equal to the North Carolina average.
  • The cost of living in Mount Holly is 5% lower than the national average.
  • The cost of housing in Mount Holly 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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Compare Mount Holly, NC Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Mount Holly, 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 Mount Holly, NC, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Mount Holly, 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$68,880$5,740$1,607$2,067
Renters$30,818$2,568$719$925
One can approximate the cost of living and the housing affordability in Mount Holly, 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 Mount Holly, NC have a median income of $68,880. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,607 per month to avoid calamity and poverty. The renters in the city have an income of about $30,818, which would make their monthly maximum allowable rental costs $719.

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 Mount Holly, 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

ItemMount HollyNational 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

ItemMount HollyNational 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

ItemMount HollyNational 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

ItemMount HollyNational avg.Difference
Home Price $160,000.00$175,700.008.9%
Avg. Mortgage Payment $871.06$1,133.2323.1%
Apartment Rent $725.00$920.0021.2%

Transportation

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

Utilities

ItemMount HollyNational 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%
Ranlo, NC3,47189-11%
Stanley, NC3,59190-10%
Dallas, NC4,50890-10%
Lowell, NC3,56190-10%
Mount Holly, NC13,81595-5%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Tehachapi, CA13,8181066%
Gardendale, AL13,80993-7%
Newington, VA13,80414646%
Chippewa Falls, WI13,80391-9%
Las Vegas, NM13,83385-15%
Mount Holly, NC13,81595-5%
Source: The Mount Holly, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.