| Index | Matthews | North Carolina | National |
| Cost of living | 116 | 96 | 100 |
| Groceries | 97 | 100 | 100 |
| Health care | 97 | 99 | 100 |
| Housing | 154 | 88 | 100 |
| Transportation | 99 | 99 | 100 |
| Utilities | 102 | 99 | 100 |
| Lifestyle & Entertainment | 100 | 100 | 100 |
| Household Items | 101 | 100 | 100 |
| Education & Childcare | 99 | 100 | 100 |
Getting a feel for the cost of living in Matthews 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 Matthews is 116, which is 16% 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.
When it comes to the cost of living in Matthews, 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 54.4% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Nobody knows their city better than the people who actually live there. So, we asked 9 local residents how they would rate the cost of living in Matthews and this is how they responded. 56% of people said that the cost of living was affordable, with prices decreasing, while 44% of people said that the cost of living was very expensive and prices continue to rise.
Is Matthews an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Matthews, the median home price is 59.5% higher than what most folks pay across the country, and monthly rent prices are 42.5% higher than the usual rates. Income levels in Matthews come in at $135,652, which is 66.8% higher than the national average.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Matthews, the groceries index is 2.6% lower than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Matthews, healthcare costs are 2.8% 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 Matthews, the transportation index stands at 1% lower than the national average.
The cost of living data for Matthews shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
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| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $156,440 | $13,037 | $3,650 | $4,694 |
| Renters | $84,226 | $7,019 | $1,965 | $2,527 |
| 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. |
| Wingate, NC | 4,574 | 96 | 4.1% |
| Hemby Bridge, NC | 1,910 | 98 | 2.2% |
| Monroe, NC | 36,140 | 99 | 1.4% |
| Fairview CDP, NC | 3,086 | 100 | 0.4% |
| Unionville, NC | 7,359 | 104 | 3.6% |
| Matthews, NC | 33,739 | 116 | 15.6% |
| City | Population | Cost of Living Index | National Avg. |
| Copperas Cove, TX | 33,796 | 90 | 9.6% |
| Pueblo West, CO | 33,798 | 110 | 10.5% |
| Lewiston, ID | 33,803 | 102 | 2.3% |
| Pointe-Claire, QC | 33,658 | n/a | |
| Helena, MT | 33,820 | 110 | 9.8% |
| Matthews, NC | 33,739 | 116 | 15.6% |
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