Myrtle Grove, North Carolina Cost Of Living

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D+

Overall 4%

Goods & Services 5%

Housing 27%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	Myrtle Grove	North Carolina	National
Cost of living	104	94	100
Goods & Services	95	99	100
Groceries	87	98	100
Health care	94	110	100
Housing	127	85	100
Transportation	96	91	100
Utilities	97	95	100

Key findings

The cost of living in Myrtle Grove is 11% higher than the North Carolina average
The cost of living in Myrtle Grove is 4% higher than the national average
Myrtle Grove housing is 27% higher than the national average
North Carolina general sales tax is 7% lower than the national average
North Carolina state income tax is 113% 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	$77,500	$6,458	$1,808	$2,325
Renters	$49,351	$4,113	$1,151	$1,481

A good indicator of the general affordability of housing in Myrtle Grove, NC, 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 Myrtle Grove, the median monthly income is $77,500 for those who own their own homes. Under the standard rule, that income level would allow for $1,808 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $49,351, per the median income in the area. That would allow for renters to spend up to $1,151 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	5.25%	5.25%

Goods & Services

Item	Myrtle Grove	National avg.	Difference
Haircut	$22.17	$20.27	9.4%
Beauty Salon	$48.10	$40.39	19.1%
Toothpaste	$1.78	$2.36	24.4%
Shampoo	$0.99	$1.08	8.0%
Movie	$10.30	$10.99	6.3%
Bowling	$16.95	$15.49	9.4%

Groceries

Item	Myrtle Grove	National avg.	Difference
Ground Beef	$3.69	$4.30	14.2%
Fried Chicken	$1.05	$1.40	25.2%
Milk	$1.74	$2.20	21.2%
Potatoes	$3.57	$3.22	10.8%
Pizza	$10.67	$10.74	0.6%
Beer	$10.49	$9.60	9.3%

Health Care

Item	Myrtle Grove	National avg.	Difference
Optometrist	$99.25	$109.73	9.5%
Doctor	$116.11	$118.34	1.9%
Dentist	$90.70	$100.94	10.1%
Ibuprofen	$9.28	$9.93	6.5%
Lipitor	$472.19	$469.53	0.6%

Housing

Item	Myrtle Grove	National avg.	Difference
Home Price	$240,100.00	$184,700.00	30.0%
Avg. Mortgage Payment	$1,009.98	$1,229.62	17.9%
Apartment Rent	$1,131.00	$949.00	19.2%

Transportation

Item	Myrtle Grove	National avg.	Difference
Gasoline	$2.60	$2.71	4.1%
Tire Balancing	$50.32	$51.86	3.0%

Utilities

Item	Myrtle Grove	National avg.	Difference
All Electricity	$164.85	$170.84	3.5%
Phone	$183.30	$187.18	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	Population	Cost of Living Index	National Avg.
Blue Clay Farms, NC	0	94	5.8%
Northwest, NC	1,126	84	16.5%
Sandy Creek, NC	283	85	14.9%
Navassa, NC	1,468	85	14.6%
Boiling Spring Lakes, NC	5,703	90	9.9%
Myrtle Grove, NC	9,872	104	4.0%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Park Forest Village, PA	9,875	109	9.1%
Warrenton, VA	9,880	117	16.7%
Richmond Heights, FL	9,881	106	6.1%
Washington, NC	9,862	88	11.6%
Grantsville, UT	9,862	102	1.7%
Myrtle Grove, NC	9,872	104	4.0%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.