Cost Of Living In Salisbury, NC

Salisbury 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	Salisbury	North Carolina	National
Cost of living index	86	95	100
Index	Salisbury	North Carolina	National
Goods & Services index	93	100	100
Groceries index	98	99	100
Health care index	117	105	100
Housing index	72	87	100
Transportation index	75	94	100
Utilities index	90	97	100

An overview of the general cost of living index for Salisbury, NC is displayed above for your reference. Residents in Salisbury, NC enjoy a cost of living index of 86. This index is 10% lower than the North Carolina average, and 14% 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 Salisbury, NC, the average cost of goods and services is 8% lower than it is in North Carolina, and it is 7% lower than the national average.

Did you know?

The cost of living in Salisbury is 10% lower than the North Carolina average.
The cost of living in Salisbury is 14% lower than the national average.
The cost of housing in Salisbury is 28% 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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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 Salisbury, 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 Salisbury, NC, you have to earn a higher income in order to still have the same standard of living. To operate the Salisbury, 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	$49,120	$4,093	$1,146	$1,474
Renters	$22,272	$1,856	$520	$668

A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Salisbury, NC, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Salisbury, NC has a median income of about $49,120 for people who own homes. Based on that number, a person should spend a maximum of $1,146 on expenses related to housing. Renters have a slightly different median income, which is $22,272. Based on this average, renters should spend no more than $520 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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%

One thing to keep in mind when considering the cost of living in Salisbury, 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

Item	Salisbury	National avg.	Difference
Haircut	$11.13	$15.56	28.5%
Beauty Salon	$29.63	$36.11	17.9%
Toothpaste	$1.93	$2.47	21.8%
Shampoo	$0.99	$0.96	2.6%
Movie	$5.83	$10.13	42.4%
Bowling	$2.25	$4.74	52.5%

Groceries

Item	Salisbury	National avg.	Difference
Ground Beef	$3.91	$3.98	1.9%
Fried Chicken	$1.06	$1.41	24.4%
Milk	$1.96	$2.06	4.9%
Potatoes	$3.37	$2.98	13.1%
Pizza	$10.72	$9.47	13.2%
Beer	$8.40	$8.79	4.5%

Health Care

Item	Salisbury	National avg.	Difference
Optometrist	$126.94	$101.04	25.6%
Doctor	$153.11	$107.44	42.5%
Dentist	$103.33	$90.42	14.3%
Ibuprofen	$8.29	$9.28	10.7%
Lipitor	$415.11	$426.50	2.7%

Housing

Item	Salisbury	National avg.	Difference
Home Price	$120,900.00	$175,700.00	31.2%
Avg. Mortgage Payment	$971.14	$1,133.23	14.3%
Apartment Rent	$725.00	$920.00	21.2%

Transportation

Item	Salisbury	National avg.	Difference
Gasoline	$1.84	$1.99	7.9%
Tire Balancing	$16.81	$45.76	63.3%

Utilities

Item	Salisbury	National avg.	Difference
All Electricity	$169.68	$163.81	3.6%
Phone	$20.50	$28.39	27.8%

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.
Cooleemee, NC	750	81	-19%
East Spencer, NC	1,520	81	-19%
Spencer, NC	3,267	82	-18%
Lexington, NC	19,029	83	-17%
Richfield, NC	774	83	-17%
Salisbury, NC	33,524	86	-14%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Long Beach, NY	33,522	168	68%
Greenville, MS	33,518	84	-16%
Security-Widefield, CO	33,566	96	-4%
Butte-Silver Bow, MT	33,481	89	-11%
Dakota Ridge, CO	33,583	114	14%
Salisbury, NC	33,524	86	-14%

Source: The Salisbury, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Salisbury, NC Cost of Living