| Index | Summerfield | North Carolina | National |
| Cost of living | 123 | 96 | 100 |
| Groceries | 103 | 100 | 100 |
| Health care | 103 | 99 | 100 |
| Housing | 174 | 88 | 100 |
| Transportation | 102 | 99 | 100 |
| Utilities | 102 | 99 | 100 |
| Lifestyle & Entertainment | 96 | 100 | 100 |
| Household Items | 99 | 100 | 100 |
| Education & Childcare | 106 | 100 | 100 |
Understanding the cost of living in Summerfield can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Summerfield cost of living index is 123, which is 23% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
If you prioritize affordability when seeking a new place to live, Summerfield may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Summerfield falls into this category, which may not align with your preferences for a budget-friendly living environment.
When it comes to the cost of living in Summerfield, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 73.6% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Is Summerfield affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Summerfield, for instance, where the median home price falls 99.8% higher than the national average, and monthly rent rates are 12.5% higher than usual. Additionally, median income levels contribute to the equation, with Summerfield flaunting a median household income of $166,160, 104.3% higher than the national norm.
Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Summerfield, the utilities index stands at 2.1% higher than the national average.
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Summerfield, healthcare costs are 3.1% higher than the national average.
Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.
The cost of living estimates displayed for Summerfield are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $170,941 | $14,245 | $3,988 | $5,129 |
| Renters | $64,782 | $5,399 | $1,511 | $1,944 |
| 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. |
| Reidsville, NC | 14,401 | 90 | 10.3% |
| Madison, NC | 2,231 | 91 | 9.2% |
| Walnut Cove, NC | 2,161 | 89 | 10.7% |
| McLeansville, NC | 960 | 95 | 5.2% |
| Walkertown, NC | 5,289 | 93 | 6.8% |
| Summerfield, NC | 11,715 | 123 | 23.3% |
| City | Population | Cost of Living Index | National Avg. |
| Manvel, TX | 11,715 | 107 | 7.4% |
| Stratford, PE | 11,716 | n/a | |
| Woods Cross, UT | 11,717 | 115 | 15.3% |
| Milford, DE | 11,721 | 102 | 2.1% |
| Martinsville, NJ | 11,722 | 164 | 63.7% |
| Summerfield, NC | 11,715 | 123 | 23.3% |
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