A+
8%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
15%
Housing NAT. AVG.
Search Homes for Sale
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 Statesville North Carolina National
Cost of living9294100
Goods & Services9198100
Groceries9798100
Health care95108100
Housing8585100
Transportation10192100
Utilities10194100

An Overview of Cost of Living in Statesville, NC

Are you thinking about relocating, but curious about the potential cost of living in Statesville? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Statesville stands at 92, making it 8% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in Statesville aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Statesville residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Is Statesville Affordable?

Is Statesville affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Statesville, the median home price is 12.7% lower than the national average and monthly rent prices are 19.7% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Statesville boasting a median household income of $42,004, 24.1% lower than the national average.

What Factors can Influence the Cost of Living in Statesville?

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 Statesville comes in at 1.4% higher than the national average.

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Statesville, the prevailing sales tax rate starts at 4.75%, and income tax rates kick off at 4.99%.

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Statesville, the transportation index is 1.4% higher than the national average.

Where is the Data From?

The cost of living in Statesville, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

New Real Estate Listings in Statesville Area
Search Homes for Sale in Statesville, NC

Cost Of Living Quick Facts

  • The cost of living in Statesville is 2% lower than the North Carolina average
  • The cost of living in Statesville is 8% lower than the national average
  • Statesville housing is 15% lower than the national average
  • North Carolina general sales tax is 7% lower than the national average
  • North Carolina state income tax is 121% higher than the national average

Most Affordable Places to Live in and Around Statesville

See all the best places to live around Statesville

Compare Statesville, NC Cost of Living

      vs
      How would you rate the cost of living in Statesville?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Statesville?
      Write a review to give others more information about this area.
      See all Statesville poll results

      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$62,404$5,200$1,456$1,872
      Renters$29,410$2,451$686$882
      A good way to judge both the affordability of the housing and the cost of living in Statesville 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. Statesville has a median income of about $62,404 for people who own homes. Based on that number, a maximum of $1,456 should be spent on expenses related to housing. Renters have a slightly different median income, which is $29,410. Based on this average, renters should spend no more than $686 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 4.99% 4.99%

      Goods & Services

      Item Statesville National avg. Difference
      Haircut $30.02$24.2623.7%
      Beauty Salon $39.60$45.5613.1%
      Toothpaste $3.75$3.701.3%
      Shampoo $1.34$1.284.6%
      Movie $13.67$12.1312.6%
      Bowling $18.63$18.003.5%

      Groceries

      Item Statesville National avg. Difference
      Ground Beef $6.12$5.844.7%
      Fried Chicken $1.55$1.571.5%
      Milk $4.66$4.670.3%
      Potatoes $5.30$4.937.3%
      Pizza $11.64$12.093.7%
      Beer $10.31$10.410.9%

      Health Care

      Item Statesville National avg. Difference
      Optometrist $131.75$125.684.8%
      Doctor $157.27$135.7815.8%
      Dentist $130.26$113.2915.0%
      Ibuprofen $10.78$10.651.2%
      Lipitor $483.22$468.603.1%

      Housing

      Item Statesville National avg. Difference
      Home Price $161,200.00$184,700.0012.7%
      Avg. Mortgage Payment $2,004.78$2,346.6914.6%
      Apartment Rent $762.00$949.0019.7%

      Transportation

      Item Statesville National avg. Difference
      Gasoline $3.19$3.467.7%
      Tire Balancing $57.92$59.923.3%

      Utilities

      Item Statesville National avg. Difference
      All Electricity $160.96$193.9917.0%
      Phone $187.97$192.252.2%
      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.
      Love Valley, NC1188020.5%
      Hiddenite, NC2958614.0%
      Catawba, NC5888712.6%
      Cleveland, NC1,1478811.6%
      Stony Point, NC1,5468911.4%
      Statesville, NC27,114927.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Wilmette, IL27,11416564.9%
      Maywood, CA27,12714040.4%
      Plum, PA27,137982.3%
      Allen Park, MI27,089954.8%
      Lincoln, ON27,082n/a 
      Statesville, NC27,114927.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.