Seven Lakes 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.
IndexSeven LakesNorth CarolinaNational
Cost of living index10995100
IndexSeven LakesNorth CarolinaNational
Goods & Services index98101100
Groceries index9798100
Health care index119108100
Housing index14285100
Transportation index7294100
Utilities index9698100
An overview of the general cost of living index for Seven Lakes, NC is displayed above for your reference. Residents in Seven Lakes, NC enjoy a cost of living index of 109. This index is 15% higher than the North Carolina average, and 9% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Seven Lakes, NC, the average cost of goods and services is 3% lower than it is in North Carolina, and it is 2% lower than the national average.
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Did you know?

  • The cost of living in Seven Lakes is 15% higher than the North Carolina average.
  • The cost of living in Seven Lakes is 9% higher than the national average.
  • The cost of housing in Seven Lakes is 42% higher than the national average.
  • North Carolina general sales tax is 7% lower than the national average.
  • North Carolina state income tax is 136% higher than the national average.

Compare Seven Lakes, NC Cost of living To Other Cities


      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      The salary calculator is meant to help you compare your salary in Seven Lakes, NC to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Seven Lakes, NC, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Seven Lakes, NC salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Seven Lakes, NC as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Seven Lakes, NC homeowners, is $72,238. This would allow for a maximum of $1,685 per month to be spent on housing costs. For renters, the median monthly income is $0 which would result in a maximum of $0 to be spent on rental costs.

      North Carolina Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      North Carolina4.75%7.5%

      North Carolina Income Tax

      StateIncome Tax (Low)Income Tax (High)
      North Carolina5.25%5.25%
      For those who live in Seven Lakes, 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 5.25% to 5.25%.

      Goods & Services

      ItemSeven LakesNational avg.Difference
      Haircut $11.86$17.4932.2%
      Beauty Salon $29.00$38.1724.0%
      Toothpaste $1.98$2.3214.7%
      Shampoo $1.13$1.0111.7%
      Movie $6.00$10.7244.1%
      Bowling $23.00$13.8665.9%


      ItemSeven LakesNational avg.Difference
      Ground Beef $4.00$3.902.6%
      Fried Chicken $1.11$1.4020.5%
      Milk $1.36$1.9630.7%
      Potatoes $3.41$3.187.1%
      Pizza $10.99$10.395.7%
      Beer $9.20$9.230.3%

      Health Care

      ItemSeven LakesNational avg.Difference
      Optometrist $143.33$106.3434.8%
      Doctor $166.67$115.2544.6%
      Dentist $118.50$98.3820.4%
      Ibuprofen $9.43$9.261.8%
      Lipitor $416.43$466.4710.7%


      ItemSeven LakesNational avg.Difference
      Home Price $276,000.00$184,700.0049.4%
      Avg. Mortgage Payment $1,006.05$1,273.3221.0%
      Apartment Rent $1,172.00$949.0023.5%


      ItemSeven LakesNational avg.Difference
      Gasoline $2.54$2.592.2%
      Tire Balancing $15.43$48.9068.4%


      ItemSeven LakesNational avg.Difference
      All Electricity$159.04$167.605.1%
      Phone $177.09$163.428.4%
      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, StatePopulationCost of Living IndexNational Avg.
      Norman, NC10775-25%
      Robbins, NC1,35677-23%
      Star, NC75180-20%
      Ellerbe, NC1,00481-19%
      Biscoe, NC2,31082-18%
      Seven Lakes, NC4,7271099%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Denver City, TX4,72781-19%
      Madisonville, TN4,72779-21%
      Searingtown, NY4,727219119%
      Penitas, TX4,72875-25%
      Poplar Grove, IL4,72896-4%
      Seven Lakes, NC4,7271099%
      Source: The Seven Lakes, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.