Spring Lake 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.
IndexSpring LakeNorth CarolinaNational
Cost of living index9197100
IndexSpring LakeNorth CarolinaNational
Goods & Services index100101100
Groceries index100100100
Health care index99104100
Housing index7087100
Transportation index99102100
Utilities index98100100
A general overview of the cost of living index for Spring Lake, NC is displayed above. In Spring Lake, NC, the overall cost of living index is 91, which is 6% lower than the North Carolina average and 9% 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 Spring Lake, NC, the city's goods and services are equal to the North Carolina average and equal to the U.S. average.

Did you know?

  • The cost of living in Spring Lake is 6% lower than the North Carolina average.
  • The cost of living in Spring Lake is 9% lower than the national average.
  • The cost of housing in Spring Lake is 30% 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 income in Spring Lake, NC to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Spring Lake, NC, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Spring Lake, NC salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
One can approximate the cost of living and the housing affordability in Spring Lake, 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 Spring Lake, NC have a median income of $41,713. Therefore, the amount that a consumer should spend on housing costs should be no more than $973 per month to avoid calamity and poverty. The renters in the city have an income of about $36,223, which would make their monthly maximum allowable rental costs $845.

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 Spring Lake, 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

ItemSpring LakeNational 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%


ItemSpring LakeNational 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

ItemSpring LakeNational 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%


ItemSpring LakeNational avg.Difference
Home Price $93,300.00$175,700.0046.9%
Avg. Mortgage Payment $797.74$1,081.0326.2%
Apartment Rent $997.00$920.008.4%


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


ItemSpring LakeNational 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.
Bunnlevel, NC82087-13%
Cameron, NC35688-12%
Vander, NC1,07088-12%
Silver City, NC97788-12%
Lillington, NC3,33490-10%
Spring Lake, NC13,10191-9%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Beeville, TX13,10282-18%
Harrison, AR13,10382-18%
Kingston, PA13,10599-1%
Glen Carbon, IL13,0951033%
Soddy-Daisy, TN13,10990-10%
Spring Lake, NC13,10191-9%
Source: The Spring Lake, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.