Greensboro, NC Cost Of Living

Greensboro 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	Greensboro	North Carolina	National
Cost of living index	90	94	100
Index	Greensboro	North Carolina	National
Goods & Services index	95	98	100
Groceries index	94	98	100
Health care index	106	107	100
Housing index	81	85	100
Transportation index	97	98	100
Utilities index	84	96	100

The above illustration supplies generalized information for the Greensboro, NC cost of living index. Compared to other cities in North Carolina and cities across the country, the cost of living index in Greensboro, NC is 90, which is 4% lower than the North Carolina average and 10% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Greensboro, NC are 3% lower than the average for North Carolina and 5% lower than the rest of the country.

Did you know?

The cost of living in Greensboro is 4% lower than the North Carolina average.
The cost of living in Greensboro is 10% lower than the national average.
The cost of housing in Greensboro is 19% lower 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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Salary Calculator

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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

The salary calculator is used in order to provide a comparison of your current salary in Greensboro, NC to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Greensboro, NC, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Greensboro, NC salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$62,212	$5,184	$1,452	$1,867
Renters	$30,178	$2,515	$704	$905

If you want to find a good determining factor for the cost of living and the general affordability of housing in Greensboro, NC, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Greensboro, NC, the median monthly income is $62,212 for those who own their own homes. Under the standard rule, that income level would allow for $1,452 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $30,178, per the median income in the area. That would allow for renters to spend up to $704 on monthly rental expenses.

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%

The North Carolina sales tax and North Carolina income tax rates should definitely be considered when determining the overall cost of living in Greensboro, NC. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The North Carolina sales tax is 4.75% and the maximum surtax is 7.5%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The North Carolina income tax rates range from 5.75% to 5.75%.

Goods & Services

Item	Greensboro	National avg.	Difference
Haircut	$13.32	$16.09	17.2%
Beauty Salon	$40.57	$37.33	8.7%
Toothpaste	$2.09	$2.45	14.4%
Shampoo	$1.03	$1.00	3.4%
Movie	$9.35	$10.28	9.1%
Bowling	$4.48	$4.93	9.2%

Groceries

Item	Greensboro	National avg.	Difference
Ground Beef	$3.97	$3.80	4.5%
Fried Chicken	$1.31	$1.40	6.3%
Milk	$1.93	$2.01	3.8%
Potatoes	$2.48	$3.01	17.5%
Pizza	$8.30	$9.89	16.0%
Beer	$8.55	$8.90	3.9%

Health Care

Item	Greensboro	National avg.	Difference
Optometrist	$114.34	$102.16	11.9%
Doctor	$134.48	$108.36	24.1%
Dentist	$87.14	$92.53	5.8%
Ibuprofen	$9.07	$9.28	2.2%
Lipitor	$437.66	$425.82	2.8%

Housing

Item	Greensboro	National avg.	Difference
Home Price	$148,500.00	$184,700.00	19.6%
Avg. Mortgage Payment	$857.42	$1,202.44	28.7%
Apartment Rent	$787.00	$949.00	17.1%

Transportation

Item	Greensboro	National avg.	Difference
Gasoline	$2.12	$2.24	5.7%
Tire Balancing	$47.88	$46.29	3.4%

Utilities

Item	Greensboro	National avg.	Difference
All Electricity	$151.94	$165.96	8.4%
Phone	$21.63	$28.68	24.6%

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.
McLeansville, NC	1,027	86	-14%
Trinity, NC	6,651	86	-14%
Archdale, NC	11,483	86	-14%
High Point, NC	108,982	96	-4%
Gibsonville, NC	6,759	90	-10%
Greensboro, NC	282,177	90	-10%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Toledo, OH	280,854	87	-13%
Newark, NJ	280,139	112	12%
Plano, TX	279,088	111	11%
Henderson, NV	277,872	108	8%
Lincoln, NE	273,018	92	-8%
Greensboro, NC	282,177	90	-10%

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

Greensboro, NC Cost of Living