F
47%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
158%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Weddington North Carolina National
Cost of living14794100
Goods & Services10398100
Groceries10098100
Health care111108100
Housing25885100
Transportation9492100
Utilities8994100

An Overview of Cost of Living in Weddington, NC

Knowing the cost of living in Weddington allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Weddington stands at 147, marking it 47% higher than the national average.

If you value affordability in your search for a new place to live, Weddington may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Weddington falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs significantly influence the Weddington cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 157.9%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Weddington Affordable?

Wondering if Weddington is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Weddington, for example, the median home price is 157.9% higher than what folks pay nationally, and monthly rent is 100% lower than the usual rates. Plus, income levels matter too, with Weddington boasting a median household income of $144,718, which is 161.6% higher than the national average.

What Factors can Influence the Cost of Living in Weddington?

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Weddington, the general sales tax rate starts at 4.75%, and income tax rates begin at 4.99%.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Weddington comes in at 11.2% lower than the national average.

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Weddington, the transportation index is 6.4% lower than the national average.

Where is the Data From?

The Weddington cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Weddington is 57% higher than the North Carolina average
  • The cost of living in Weddington is 47% higher than the national average
  • Weddington housing is 158% higher than the national average
  • North Carolina general sales tax is 7% lower than the national average
  • North Carolina state income tax is 121% higher than the national average

Most Affordable Places to Live in and Around Weddington

See all the best places to live around Weddington

Compare Weddington, NC Cost of Living

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$146,773$12,231$3,424$4,404
      Renters$0$0$0$0
      The affordability of the housing market in Weddington, NC as well as the overall cost of living can be predicted 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 be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Weddington homeowners, the median income is $146,773. This indicates that a monthly maximum of $3,424 should be spent by homeowners on all housing related costs. Renters have a median income of $0. This indicates that renters would have a maximum of $0 for their rent related monthly costs.

      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 4.99% 4.99%

      Goods & Services

      Item Weddington National avg. Difference
      Haircut $18.25$24.2624.8%
      Beauty Salon $59.75$45.5631.1%
      Toothpaste $3.81$3.702.8%
      Shampoo $1.27$1.280.7%
      Movie $13.55$12.1311.7%
      Bowling $21.67$18.0020.4%

      Groceries

      Item Weddington National avg. Difference
      Ground Beef $6.27$5.847.3%
      Fried Chicken $1.39$1.5711.5%
      Milk $4.61$4.671.2%
      Potatoes $4.98$4.931.0%
      Pizza $10.96$12.099.3%
      Beer $10.47$10.410.5%

      Health Care

      Item Weddington National avg. Difference
      Optometrist $143.74$125.6814.4%
      Doctor $148.29$135.789.2%
      Dentist $115.52$113.292.0%
      Ibuprofen $10.77$10.651.1%
      Lipitor $467.34$468.600.3%

      Housing

      Item Weddington National avg. Difference
      Home Price $476,400.00$184,700.00157.9%
      Avg. Mortgage Payment $3,159.30$2,346.6934.6%
      Apartment Rent $0.00$949.00100.0%

      Transportation

      Item Weddington National avg. Difference
      Gasoline $3.29$3.464.9%
      Tire Balancing $53.32$59.9211.0%

      Utilities

      Item Weddington National avg. Difference
      All Electricity $167.89$193.9913.5%
      Phone $189.90$192.251.2%
      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 Population Cost of Living Index National Avg.
      Catawba, SC1,069990.6%
      JAARS, NC1,0907821.8%
      Hemby Bridge, NC1,853982.2%
      Monroe, NC35,339991.2%
      Lesslie, SC3,185990.9%
      Weddington, NC11,00014747.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Satellite Beach, FL11,00012020.3%
      Bolivar, MO11,0008415.8%
      Saltspring Island, BC11,001n/a 
      Pompton Lakes, NJ10,99812120.7%
      Progress, PA10,9971000.2%
      Weddington, NC11,00014747.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.