Selma 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.
IndexSelmaNorth CarolinaNational
Cost of living index8797100
IndexSelmaNorth CarolinaNational
Goods & Services index100101100
Groceries index100100100
Health care index99104100
Housing index5887100
Transportation index99102100
Utilities index98100100
An overview of the general cost of living index for Selma, NC is displayed above for your reference. Residents in Selma, NC enjoy a cost of living index of 87. This index is 10% lower than the North Carolina average, and 13% 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 Selma, NC, the average cost of goods and services is equal to it is in North Carolina, and it is equal to the national average.

Did you know?

  • The cost of living in Selma is 10% lower than the North Carolina average.
  • The cost of living in Selma is 13% lower than the national average.
  • The cost of housing in Selma is 42% 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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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 meant to help you compare your salary in Selma, NC to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Selma, NC, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Selma, NC salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Selma, 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 Selma, NC homeowners have a median income of $43,516. Using that number, you will come up with a maximum of $1,015 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $18,096, which means there is a maximum of $422 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%
When you are determining the total cost of living in Selma, 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

ItemSelmaNational avg.Difference
Haircut $18.57$14.5927.3%
Beauty Salon $40.57$34.6817.0%
Toothpaste $2.44$2.471.3%
Shampoo $1.01$1.021.2%
Movie $9.86$9.870.1%
Bowling $4.44$4.391.1%


ItemSelmaNational avg.Difference
Ground Beef $4.69$4.484.8%
Fried Chicken $1.35$1.467.8%
Milk $2.50$2.366.1%
Potatoes $3.64$3.0618.9%
Pizza $9.27$9.240.3%
Beer $8.62$8.630.1%

Health Care

ItemSelmaNational avg.Difference
Optometrist $98.75$99.781.0%
Doctor $95.79$105.038.8%
Dentist $98.29$88.7010.8%
Ibuprofen $9.61$9.412.1%
Lipitor $258.40$298.5013.4%


ItemSelmaNational avg.Difference
Home Price $81,600.00$175,700.0053.6%
Avg. Mortgage Payment $797.74$1,081.0326.2%
Apartment Rent $774.00$920.0015.9%


ItemSelmaNational avg.Difference
Gasoline $2.22$2.096.3%
Tire Balancing $35.50$45.2921.6%


ItemSelmaNational avg.Difference
All Electricity$147.80$170.8013.5%
Phone $31.99$28.2613.2%
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.
Micro, NC46885-15%
Kenly, NC1,56387-13%
Mar-Mac, NC3,89487-13%
Benson, NC3,43589-11%
Wilson's Mills, NC2,82390-10%
Selma, NC6,17287-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Binghamton University, NY6,1721033%
Burton, SC6,17395-5%
South Patrick Shores, FL6,17311313%
Lucas Valley-Marinwood, CA6,16819494%
Walker, LA6,17691-9%
Selma, NC6,17287-13%
Source: The Selma, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.