Waxhaw 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.
IndexWaxhawNorth CarolinaNational
Cost of living index11197100
IndexWaxhawNorth CarolinaNational
Goods & Services index97101100
Groceries index100100100
Health care index101104100
Housing index13587100
Transportation index100102100
Utilities index110100100
Displayed above is a general overview of the Waxhaw, NC cost of living index. The overall cost of living index in Waxhaw, NC is 111, which is 14% higher than the North Carolina average and 11% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Waxhaw, NC are 3% lower than the North Carolina average and 3% lower than the national average.

Did you know?

  • The cost of living in Waxhaw is 14% higher than the North Carolina average.
  • The cost of living in Waxhaw is 11% higher than the national average.
  • The cost of housing in Waxhaw is 35% higher 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 Waxhaw, NC Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Waxhaw, 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 Waxhaw, NC, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Waxhaw, 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)
Owners$79,309$6,609$1,850$2,380
Renters$39,336$3,278$918$1,180
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Waxhaw, NC as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Waxhaw, NC homeowners, is $79,309. This would allow for a maximum of $1,850 per month to be spent on housing costs. For renters, the median monthly income is $39,336 which would result in a maximum of $918 to be spent on rental 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%
One thing to keep in mind when considering the cost of living in Waxhaw, 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

ItemWaxhawNational avg.Difference
Haircut $12.40$14.5915.0%
Beauty Salon $36.40$34.685.0%
Toothpaste $2.52$2.471.9%
Shampoo $1.08$1.025.7%
Movie $10.39$9.875.3%
Bowling $5.97$4.3935.9%

Groceries

ItemWaxhawNational avg.Difference
Ground Beef $4.51$4.480.7%
Fried Chicken $1.59$1.468.6%
Milk $2.59$2.369.9%
Potatoes $3.37$3.0610.1%
Pizza $8.49$9.248.1%
Beer $8.34$8.633.4%

Health Care

ItemWaxhawNational avg.Difference
Optometrist $119.20$99.7819.5%
Doctor $95.20$105.039.4%
Dentist $91.20$88.702.8%
Ibuprofen $9.12$9.413.1%
Lipitor $322.28$298.508.0%

Housing

ItemWaxhawNational avg.Difference
Home Price $239,600.00$175,700.0036.4%
Avg. Mortgage Payment $879.18$1,081.0318.7%
Apartment Rent $1,224.00$920.0033.0%

Transportation

ItemWaxhawNational avg.Difference
Gasoline $2.19$2.094.9%
Tire Balancing $39.18$45.2913.5%

Utilities

ItemWaxhawNational avg.Difference
All Electricity$170.61$170.800.1%
Phone $35.01$28.2623.9%
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.
Lancaster, SC8,80188-12%
Riverview, SC23288-12%
Catawba, SC1,43894-6%
Monroe, NC33,58895-5%
Hemby Bridge, NC1,34195-5%
Waxhaw, NC10,87811111%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Chino Valley, AZ10,87992-8%
Totowa, NJ10,87213636%
Marinette, WI10,89085-15%
Town and Country, MO10,89016060%
Timberlane, LA10,89194-6%
Waxhaw, NC10,87811111%
Source: The Waxhaw, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.