Siler City 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.
IndexSiler CityNorth CarolinaNational
Cost of living index8695100
IndexSiler CityNorth CarolinaNational
Goods & Services index100100100
Groceries index9799100
Health care index101105100
Housing index6287100
Transportation index8994100
Utilities index9297100
A general summary of the cost of living index in Siler City, NC is shown above. Compared to the state average of North Carolina the cost of living index in Siler City, NC is 86, which is 9% lower than the average in North Carolina and compared to the national average it is 14% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Siler City, NC goods and services come in at 1% lower than the average in North Carolina and are equal to compared to the nationwide average.

Did you know?

  • The cost of living in Siler City is 9% lower than the North Carolina average.
  • The cost of living in Siler City is 14% lower than the national average.
  • The cost of housing in Siler City is 38% 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

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Use the salary calculator to compare your current salary in Siler City, NC to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Siler City, NC, then you would need to earn more income in order to maintain the same standard of living. To use the Siler City, NC salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$34,923$2,910$815$1,048
Renters$22,906$1,909$534$687
The affordability of the housing market in Siler City, NC as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Siler City, NC homeowners, the median income is $34,923. This indicates that a monthly maximum of $815 should be spent by homeowners on all housing related costs. Renters have a median income of $22,906. This indicates that renters should have a maximum of $534 used for their rent related monthly 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 Siler City, 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

ItemSiler CityNational avg.Difference
Haircut $12.00$15.5622.9%
Beauty Salon $39.78$36.1110.2%
Toothpaste $2.00$2.4719.0%
Shampoo $0.96$0.960.2%
Movie $9.35$10.137.7%
Bowling $4.50$4.745.0%

Groceries

ItemSiler CityNational avg.Difference
Ground Beef $4.16$3.984.3%
Fried Chicken $1.42$1.410.7%
Milk $1.94$2.066.2%
Potatoes $2.78$2.986.7%
Pizza $9.99$9.475.5%
Beer $8.78$8.790.2%

Health Care

ItemSiler CityNational avg.Difference
Optometrist $100.00$101.041.0%
Doctor $111.33$107.443.6%
Dentist $88.67$90.421.9%
Ibuprofen $8.48$9.288.6%
Lipitor $451.89$426.506.0%

Housing

ItemSiler CityNational avg.Difference
Home Price $100,700.00$175,700.0042.7%
Avg. Mortgage Payment $754.61$1,133.2333.4%
Apartment Rent $669.00$920.0027.3%

Transportation

ItemSiler CityNational avg.Difference
Gasoline $1.89$1.995.0%
Tire Balancing $34.44$45.7624.7%

Utilities

ItemSiler CityNational avg.Difference
All Electricity$157.07$163.814.1%
Phone $24.67$28.3913.1%
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.
Franklinville, NC98783-17%
Ramseur, NC2,08086-14%
Liberty, NC2,66688-12%
Staley, NC52188-12%
Goldston, NC24287-13%
Siler City, NC8,10986-14%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Medulla, FL8,11495-5%
Lake Elmo, MN8,12312525%
Fern Park, FL8,12393-7%
Fairmount, CO8,09312929%
Lake Carmel, NY8,12713030%
Siler City, NC8,10986-14%
Source: The Siler City, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.