High Point, NC Cost Of Living

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High Point 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	High Point	North Carolina	National
Cost of living index	93	95	100
Index	High Point	North Carolina	National
Goods & Services index	100	101	100
Groceries index	101	98	100
Health care index	121	108	100
Housing index	79	85	100
Transportation index	91	94	100
Utilities index	94	98	100

The above illustration supplies generalized information for the High Point, NC cost of living index. Compared to other cities in North Carolina and cities across the country, the cost of living index in High Point, NC is 93, which is 2% lower than the North Carolina average and 7% 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 High Point, NC are equal to the average for North Carolina and equal to the rest of the country.

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Did you know?

The cost of living in High Point is 2% lower than the North Carolina average.
The cost of living in High Point is 7% lower than the national average.
The cost of housing in High Point is 21% 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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Compare High Point, 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 salary in High Point, NC to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in High Point, NC, then you would need to earn more income in order to maintain the same standard of living. To use the High Point, NC salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown 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	$63,051	$5,254	$1,471	$1,892
Renters	$28,222	$2,352	$658	$847

If you want to find a good determining factor for the cost of living and the general affordability of housing in High Point, 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 High Point, NC, the median monthly income is $63,051 for those who own their own homes. Under the standard rule, that income level would allow for $1,471 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $28,222, per the median income in the area. That would allow for renters to spend up to $658 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%

For those who live in High Point, NC and want to know what the true cost of living is, they ought to look at both the North Carolina income tax rate and the North Carolina sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In North Carolina, the sales tax is 4.75%, while the most you'll pay in surtax is 7.5%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in North Carolina, the income tax rate ranges between 5.75% to 5.75%.

Goods & Services

Item	High Point	National avg.	Difference
Haircut	$21.67	$17.49	23.9%
Beauty Salon	$45.00	$38.17	17.9%
Toothpaste	$2.67	$2.32	15.0%
Shampoo	$1.04	$1.01	2.8%
Movie	$8.61	$10.72	19.7%
Bowling	$17.20	$13.86	24.1%

Groceries

Item	High Point	National avg.	Difference
Ground Beef	$4.44	$3.90	13.8%
Fried Chicken	$1.16	$1.40	16.9%
Milk	$1.54	$1.96	21.5%
Potatoes	$3.43	$3.18	7.8%
Pizza	$11.99	$10.39	15.4%
Beer	$9.16	$9.23	0.8%

Health Care

Item	High Point	National avg.	Difference
Optometrist	$114.60	$106.34	7.8%
Doctor	$159.80	$115.25	38.7%
Dentist	$136.33	$98.38	38.6%
Ibuprofen	$10.78	$9.26	16.4%
Lipitor	$347.99	$466.47	25.4%

Housing

Item	High Point	National avg.	Difference
Home Price	$142,700.00	$184,700.00	22.7%
Avg. Mortgage Payment	$754.14	$1,273.32	40.8%
Apartment Rent	$793.00	$949.00	16.4%

Transportation

Item	High Point	National avg.	Difference
Gasoline	$2.45	$2.59	5.3%
Tire Balancing	$43.00	$48.90	12.1%

Utilities

Item	High Point	National avg.	Difference
All Electricity	$159.04	$167.60	5.1%
Phone	$166.80	$163.42	2.1%

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.
Lexington, NC	19,089	84	-16%
Randleman, NC	4,140	84	-16%
Thomasville, NC	27,178	85	-15%
Walkertown, NC	4,900	91	-9%
Trinity, NC	6,651	88	-12%
High Point, NC	108,982	93	-7%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Temecula, CA	108,965	134	34%
San Buenaventura (Ventura), CA	109,067	146	46%
Billings, MT	109,089	100	0%
Cambridge, MA	108,757	172	72%
Waterbury, CT	109,211	108	8%
High Point, NC	108,982	93	-7%

Source: The High Point, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

High Point, NC Cost of Living