Winston-Salem 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.
IndexWinston-SalemNorth CarolinaNational
Cost of living index9395100
IndexWinston-SalemNorth CarolinaNational
Goods & Services index100101100
Groceries index10198100
Health care index121108100
Housing index7785100
Transportation index9194100
Utilities index9498100
Here we can see a simple outline of the cost of living in Winston-Salem, NC. As you can see, with the average cost of living in Winston-Salem, NC being 93, that puts it 3% lower than the average of North Carolina and 7% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Winston-Salem, NC, the price of goods and services are equal to the average of North Carolina as well as equal to the nation's average.
How would you rate the cost of living in Winston-Salem?
Write a review to give others more information about this area.
Is the cost of living increasing or decreasing in Winston-Salem?
Write a review to give others more information about this area.
See all Winston-Salem poll results

Did you know?

  • The cost of living in Winston-Salem is 3% lower than the North Carolina average.
  • The cost of living in Winston-Salem is 7% lower than the national average.
  • The cost of housing in Winston-Salem is 23% lower 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 Winston-Salem, NC Cost of living To Other Cities

      vs

      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 used in order to provide a comparison of your current salary in Winston-Salem, NC to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Winston-Salem, NC, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Winston-Salem, NC salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$60,421$5,035$1,410$1,813
      Renters$25,242$2,104$589$757
      One can approximate the cost of living and the housing affordability in Winston-Salem, NC by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Winston-Salem, NC have a median income of $60,421. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,410 per month to avoid calamity and poverty. The renters in the city have an income of about $25,242, which would make their monthly maximum allowable rental costs $589.

      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%
      When assessing the complete cost of living in Winston-Salem, NC, the North Carolina income tax and the North Carolina sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The North Carolina maximum surtax is 7.5%, and the North Carolina sales tax is 4.75%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 5.25% to 5.25% in North Carolina.

      Goods & Services

      ItemWinston-SalemNational avg.Difference
      Haircut $21.67$17.4923.9%
      Beauty Salon $45.00$38.1717.9%
      Toothpaste $2.67$2.3215.0%
      Shampoo $1.04$1.012.8%
      Movie $8.61$10.7219.7%
      Bowling $17.20$13.8624.1%

      Groceries

      ItemWinston-SalemNational avg.Difference
      Ground Beef $4.44$3.9013.8%
      Fried Chicken $1.16$1.4016.9%
      Milk $1.54$1.9621.5%
      Potatoes $3.43$3.187.8%
      Pizza $11.99$10.3915.4%
      Beer $9.16$9.230.8%

      Health Care

      ItemWinston-SalemNational avg.Difference
      Optometrist $114.60$106.347.8%
      Doctor $159.80$115.2538.7%
      Dentist $136.33$98.3838.6%
      Ibuprofen $10.78$9.2616.4%
      Lipitor $347.99$466.4725.4%

      Housing

      ItemWinston-SalemNational avg.Difference
      Home Price $142,400.00$184,700.0022.9%
      Avg. Mortgage Payment $754.14$1,273.3240.8%
      Apartment Rent $734.00$949.0022.7%

      Transportation

      ItemWinston-SalemNational avg.Difference
      Gasoline $2.45$2.595.3%
      Tire Balancing $43.00$48.9012.1%

      Utilities

      ItemWinston-SalemNational avg.Difference
      All Electricity$159.04$167.605.1%
      Phone $166.80$163.422.1%
      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, StatePopulationCost of Living IndexNational Avg.
      Germanton, NC85886-14%
      East Bend, NC44088-12%
      Walnut Cove, NC1,56589-11%
      Rural Hall, NC3,07990-10%
      Walkertown, NC4,90091-9%
      Winston-Salem, NC238,47493-7%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Reno, NV237,12111010%
      Glendale, AZ239,94394-6%
      Hialeah, FL235,6261011%
      Chandler, AZ242,1311077%
      Garland, TX234,81096-4%
      Winston-Salem, NC238,47493-7%
      Source: The Winston-Salem, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.