| Index | Carrboro | North Carolina | National |
| Cost of living | 126 | 96 | 100 |
| Groceries | 98 | 100 | 100 |
| Health care | 96 | 99 | 100 |
| Housing | 185 | 88 | 100 |
| Transportation | 96 | 99 | 100 |
| Utilities | 97 | 99 | 100 |
| Lifestyle & Entertainment | 107 | 100 | 100 |
| Household Items | 102 | 100 | 100 |
| Education & Childcare | 111 | 100 | 100 |
Getting a feel for the cost of living in Carrboro 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 Carrboro is 126, which is 26% 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.
If you value affordability in your search for a new place to live, Carrboro 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, Carrboro falls into this category, which may not align with your desire for an affordable place to call home.
When it comes to the cost of living in Carrboro, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 85% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Is Carrboro 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 Carrboro, for instance, where the median home price falls 113.6% higher than the national average, and monthly rent rates are 18.2% higher than usual. Additionally, median income levels contribute to the equation, with Carrboro flaunting a median household income of $99,741, 22.6% higher than the national norm.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Carrboro, the groceries index is 2% lower than the national average.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Carrboro, the housing index stands at 85% higher than the national average.
Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.
The cost of living estimates displayed for Carrboro are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
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| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $160,863 | $13,405 | $3,753 | $4,826 |
| Renters | $69,573 | $5,798 | $1,623 | $2,087 |
| 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. |
| Green Level, NC | 2,613 | 86 | 13.6% |
| Saxapahaw, NC | 1,390 | 90 | 10.0% |
| Efland, NC | 823 | 94 | 6.0% |
| Swepsonville, NC | 2,318 | 101 | 0.6% |
| Mebane, NC | 16,152 | 101 | 1.1% |
| Carrboro, NC | 22,056 | 126 | 25.7% |
| City | Population | Cost of Living Index | National Avg. |
| Portsmouth, NH | 22,060 | 138 | 37.9% |
| Bear, DE | 22,065 | 109 | 9.1% |
| Bellview, FL | 22,042 | 97 | 2.8% |
| Huntsville, ON | 22,073 | n/a | |
| Biddeford, ME | 22,077 | 113 | 12.9% |
| Carrboro, NC | 22,056 | 126 | 25.7% |
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