Fuquay-Varina, NC Cost Of Living

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Fuquay-Varina 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.
Index	Fuquay-Varina	North Carolina	National
Cost of living index	104	94	100
Index	Fuquay-Varina	North Carolina	National
Goods & Services index	101	98	100
Groceries index	106	98	100
Health care index	101	107	100
Housing index	112	85	100
Transportation index	100	98	100
Utilities index	98	96	100

Here we can see a simple outline of the cost of living in Fuquay-Varina, NC. As you can see, with the average cost of living in Fuquay-Varina, NC being 104, that puts it 11% higher than the average of North Carolina and 4% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Fuquay-Varina, NC, the price of goods and services are 3% higher than the average of North Carolina as well as 1% higher than the nation's average.

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Did you know?

The cost of living in Fuquay-Varina is 11% higher than the North Carolina average.
The cost of living in Fuquay-Varina is 4% higher than the national average.
The cost of housing in Fuquay-Varina is 12% 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 Fuquay-Varina, NC Cost of living To Other Cities

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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Use the salary calculator to compare your current income in Fuquay-Varina, 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 Fuquay-Varina, NC, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Fuquay-Varina, 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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$82,304	$6,859	$1,920	$2,469
Renters	$42,304	$3,525	$987	$1,269

One can approximate the cost of living and the housing affordability in Fuquay-Varina, 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 Fuquay-Varina, NC have a median income of $82,304. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,920 per month to avoid calamity and poverty. The renters in the city have an income of about $42,304, which would make their monthly maximum allowable rental costs $987.

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	5.75%	5.75%

One thing to keep in mind when considering the cost of living in Fuquay-Varina, 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

Item	Fuquay-Varina	National avg.	Difference
Haircut	$19.49	$16.09	21.1%
Beauty Salon	$51.86	$37.33	38.9%
Toothpaste	$2.65	$2.45	8.3%
Shampoo	$1.03	$1.00	2.7%
Movie	$9.93	$10.28	3.4%
Bowling	$5.64	$4.93	14.3%

Groceries

Item	Fuquay-Varina	National avg.	Difference
Ground Beef	$3.85	$3.80	1.2%
Fried Chicken	$1.69	$1.40	20.9%
Milk	$2.00	$2.01	0.3%
Potatoes	$3.53	$3.01	17.1%
Pizza	$10.82	$9.89	9.5%
Beer	$9.11	$8.90	2.3%

Health Care

Item	Fuquay-Varina	National avg.	Difference
Optometrist	$103.10	$102.16	0.9%
Doctor	$99.19	$108.36	8.5%
Dentist	$98.93	$92.53	6.9%
Ibuprofen	$8.66	$9.28	6.7%
Lipitor	$444.08	$425.82	4.3%

Housing

Item	Fuquay-Varina	National avg.	Difference
Home Price	$208,100.00	$184,700.00	12.7%
Avg. Mortgage Payment	$940.37	$1,202.44	21.8%
Apartment Rent	$1,050.00	$949.00	10.6%

Transportation

Item	Fuquay-Varina	National avg.	Difference
Gasoline	$2.26	$2.24	0.7%
Tire Balancing	$45.39	$46.29	1.9%

Utilities

Item	Fuquay-Varina	National avg.	Difference
All Electricity	$143.51	$165.96	13.5%
Phone	$31.92	$28.68	11.3%

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, State	Population	Cost of Living Index	National Avg.
Coats, NC	2,344	88	-12%
Mamers, NC	1,140	88	-12%
Benson, NC	3,542	89	-11%
Lillington, NC	3,436	92	-8%
Angier, NC	5,079	95	-5%
Fuquay-Varina, NC	22,722	104	4%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
East Patchogue, NY	22,724	130	30%
West Rancho Dominguez, CA	22,724	122	22%
Taylors, SC	22,719	95	-5%
Eagle, ID	22,711	113	13%
Newberg, OR	22,749	111	11%
Fuquay-Varina, NC	22,722	104	4%

Source: The Fuquay-Varina, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Fuquay-Varina, NC Cost of Living