Cost Of Living in Mount Olive, NC

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A+

13%

Overall NAT. AVG.

1%

Goods & Services NAT. AVG.

40%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Mount Olive	North Carolina	National
Cost of living	87	94	100
Goods & Services	99	98	100
Groceries	98	98	100
Health care	112	108	100
Housing	60	85	100
Transportation	93	92	100
Utilities	98	94	100

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Cost Of Living Quick Facts

The cost of living in Mount Olive is 7% lower than the North Carolina average
The cost of living in Mount Olive is 13% lower than the national average
Mount Olive housing is 40% lower than the national average
North Carolina general sales tax is 7% lower than the national average
North Carolina state income tax is 83% higher than the national average

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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

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$57,019	$4,752	$1,330	$1,711
Renters	$25,642	$2,137	$598	$769

A good way to judge both the affordability of the housing and the cost of living in Mount Olive is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Mount Olive has a median income of about $57,019 for people who own homes. Based on that number, a maximum of $1,330 should be spent on expenses related to housing. Renters have a slightly different median income, which is $25,642. Based on this average, renters should spend no more than $598 on all rental costs if they want to maintain a non-impoverished standard of living.

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	4.75%	4.75%

Goods & Services

Item	Mount Olive	National avg.	Difference
Haircut	$19.00	$24.26	21.7%
Beauty Salon	$29.58	$45.56	35.1%
Toothpaste	$3.65	$3.70	1.4%
Shampoo	$1.09	$1.28	15.1%
Movie	$10.27	$12.13	15.3%
Bowling	$11.00	$18.00	38.9%

Groceries

Item	Mount Olive	National avg.	Difference
Ground Beef	$5.93	$5.84	1.5%
Fried Chicken	$1.59	$1.57	0.9%
Milk	$4.57	$4.67	2.1%
Potatoes	$5.18	$4.93	4.9%
Pizza	$10.47	$12.09	13.4%
Beer	$10.29	$10.41	1.1%

Health Care

Item	Mount Olive	National avg.	Difference
Optometrist	$141.56	$125.68	12.6%
Doctor	$136.38	$135.78	0.4%
Dentist	$100.17	$113.29	11.6%
Ibuprofen	$10.24	$10.65	3.9%
Lipitor	$429.52	$468.60	8.3%

Housing

Item	Mount Olive	National avg.	Difference
Home Price	$98,200.00	$184,700.00	46.8%
Avg. Mortgage Payment	$1,813.02	$2,346.69	22.7%
Apartment Rent	$731.00	$949.00	23.0%

Transportation

Item	Mount Olive	National avg.	Difference
Gasoline	$3.45	$3.46	0.5%
Tire Balancing	$63.55	$59.92	6.1%

Utilities

Item	Mount Olive	National avg.	Difference
All Electricity	$201.14	$193.99	3.7%
Phone	$187.32	$192.25	2.6%

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	Population	Cost of Living Index	National Avg.
Keener, NC	176	99	1.4%
Faison, NC	1,182	83	17.2%
Warsaw, NC	3,108	83	16.5%
Calypso, NC	647	84	16.0%
Brogden, NC	2,306	85	15.0%
Mount Olive, NC	4,670	87	12.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Eldon, MO	4,671	83	16.8%
Ellisville, MS	4,671	84	16.1%
Winchendon, MA	4,673	111	10.8%
Little Falls, NY	4,673	91	9.5%
Pleasant Run, OH	4,673	98	1.5%
Mount Olive, NC	4,670	87	12.9%