| Index | Morganton | North Carolina | National |
| Cost of living | 92 | 96 | 100 |
| Groceries | 98 | 100 | 100 |
| Health care | 102 | 99 | 100 |
| Housing | 79 | 88 | 100 |
| Transportation | 96 | 99 | 100 |
| Utilities | 98 | 99 | 100 |
| Lifestyle & Entertainment | 97 | 100 | 100 |
| Household Items | 100 | 100 | 100 |
| Education & Childcare | 96 | 100 | 100 |
Knowing the cost of living in Morganton allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Morganton stands at 92, marking it 8% lower than the national average.
Everyday expenditures like food, housing, lifestyle expenses, transportation and health care in Morganton are priced in a manner consistent with other areas. This means that residents of Morganton can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
Is Morganton an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Morganton is 17.7% lower than the national average, while the average monthly rent prices are 28% lower than average. The affordability of any location can also be influenced by median income levels. Morganton has a median household income of $59,036, which is 27.4% lower than the national average.
Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from 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 crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Morganton comes in at 2.5% lower than the national average.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Morganton, the housing index is 20.8% lower than the national average.
The Morganton cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
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| Groceries index | |
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| Utilities index | |
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| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $80,637 | $6,720 | $1,881 | $2,419 |
| Renters | $43,424 | $3,619 | $1,013 | $1,303 |
| 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. |
| Icard, NC | 2,186 | 87 | 13.2% |
| Connelly Springs, NC | 2,346 | 87 | 12.8% |
| Gamewell, NC | 3,986 | 87 | 12.6% |
| Lenoir, NC | 18,535 | 88 | 12.5% |
| Sawmills, NC | 5,379 | 88 | 12.1% |
| Morganton, NC | 17,082 | 92 | 7.6% |
| City | Population | Cost of Living Index | National Avg. |
| Laconia, NH | 17,080 | 104 | 4.1% |
| Aberdeen, WA | 17,084 | 101 | 0.9% |
| New Milford, NJ | 17,089 | 142 | 41.6% |
| Seagoville, TX | 17,072 | 97 | 3.1% |
| Lemay, MO | 17,056 | 88 | 11.8% |
| Morganton, NC | 17,082 | 92 | 7.6% |
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