| Index | Winston-Salem | North Carolina | National |
| Cost of living | 94 | 96 | 100 |
| Groceries | 98 | 100 | 100 |
| Health care | 99 | 99 | 100 |
| Housing | 83 | 88 | 100 |
| Transportation | 101 | 99 | 100 |
| Utilities | 97 | 99 | 100 |
| Lifestyle & Entertainment | 96 | 100 | 100 |
| Household Items | 102 | 100 | 100 |
| Education & Childcare | 100 | 100 | 100 |
Getting a feel for the cost of living in Winston-Salem is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Winston-Salem is 94, which is 6% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
The cost of living in Winston-Salem closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, houshold expenses, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Winston-Salem can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
Nobody knows their city better than the people who actually live there. So, we asked 30 local residents how they would rate the cost of living in Winston-Salem and this is how they responded. 77% of people said that the cost of living was affordable, with prices decreasing, while 23% of people said that the cost of living was very expensive and prices continue to rise.
Wondering if Winston-Salem is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Winston-Salem, for example, the median home price is 17.8% lower than what folks pay nationally, and monthly rent is 13.5% lower than the usual rates. Plus, income levels matter too, with Winston-Salem boasting a median household income of $70,222, which is 13.7% lower than the national average.
Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Winston-Salem, the utilities index registers 3.2% lower than the national average.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Winston-Salem, the housing index stands at 16.5% lower than the national average.
Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Winston-Salem, the healthcare costs are 1.2% lower than the national average.
The Winston-Salem cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
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| Groceries index | |
| Health care index | |
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| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $98,643 | $8,220 | $2,302 | $2,960 |
| Renters | $46,119 | $3,843 | $1,076 | $1,384 |
| 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. |
| Walnut Cove, NC | 2,161 | 89 | 10.7% |
| East Bend, NC | 754 | 90 | 10.2% |
| Welcome, NC | 3,125 | 91 | 8.9% |
| Tobaccoville, NC | 2,787 | 92 | 8.1% |
| Germanton, NC | 1,160 | 93 | 7.1% |
| Winston-Salem, NC | 255,400 | 94 | 5.7% |
| City | Population | Cost of Living Index | National Avg. |
| Gilbert, AZ | 255,869 | 128 | 28.4% |
| Glendale, AZ | 255,914 | 109 | 9.4% |
| North Las Vegas, NV | 256,144 | 114 | 13.7% |
| Reno, NV | 258,532 | 126 | 25.7% |
| Burnaby, BC | 258,827 | n/a | |
| Winston-Salem, NC | 255,400 | 94 | 5.7% |
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