| Index | Belmont | North Carolina | National |
| Cost of living | 107 | 96 | 100 |
| Groceries | 99 | 100 | 100 |
| Health care | 99 | 99 | 100 |
| Housing | 127 | 88 | 100 |
| Transportation | 98 | 99 | 100 |
| Utilities | 103 | 99 | 100 |
| Lifestyle & Entertainment | 97 | 100 | 100 |
| Household Items | 101 | 100 | 100 |
| Education & Childcare | 94 | 100 | 100 |
Getting a feel for the cost of living in Belmont is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Belmont is 107, which is 7% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
The cost of living in Belmont closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, houshold expenses, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Belmont can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
Housing costs make up a big chunk of the cost of living in Belmont, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 27.1% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Nobody knows their city better than the people who actually live there. So, we asked 12 local residents how they would rate the cost of living in Belmont and this is how they responded. 75% of people said that the cost of living was affordable, with prices decreasing, while 25% of people said that the cost of living was very expensive and prices continue to rise.
Is Belmont affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Belmont, for instance, where the median home price falls 38.1% higher than the national average, and monthly rent rates are 1.4% higher than usual. Additionally, median income levels contribute to the equation, with Belmont flaunting a median household income of $109,223, 34.3% higher than the national norm.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Belmont, healthcare costs are 0.8% lower than the national average.
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Belmont, the transportation index stands at 1.6% lower than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Belmont, the groceries index is 1.2% lower than the national average.
The Belmont cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $150,077 | $12,506 | $3,502 | $4,503 |
| Renters | $64,406 | $5,367 | $1,503 | $1,932 |
| State | General Sales Tax | With Max Surtax |
| North Carolina | 4.75% | 7.5% |
| State | Income Tax (Low) | Income Tax (High) |
| North Carolina | 4.75% | 4.75% |
| City | Population | Cost of Living Index | National Avg. |
| Spencer Mountain, NC | 0 | 99 | 1.3% |
| High Shoals, NC | 875 | 87 | 12.9% |
| Bessemer City, NC | 5,750 | 90 | 10.1% |
| Lowell, NC | 3,815 | 91 | 8.6% |
| Dallas, NC | 4,928 | 93 | 7.3% |
| Belmont, NC | 12,690 | 107 | 7.2% |
| City | Population | Cost of Living Index | National Avg. |
| Derby, CT | 12,684 | 109 | 9.1% |
| Northlake, IL | 12,696 | 102 | 1.7% |
| Woodward, OK | 12,677 | 90 | 10.4% |
| Tamalpais-Homestead Valley, CA | 12,704 | 264 | 164.4% |
| Troy, MO | 12,706 | 94 | 6.3% |
| Belmont, NC | 12,690 | 107 | 7.2% |
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