C-
22%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
77%
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 Apex North Carolina National
Cost of living12294100
Goods & Services9998100
Groceries9898100
Health care112108100
Housing17785100
Transportation9392100
Utilities9894100

An Overview of Cost of Living in Apex, NC

Are you thinking about relocating, but curious about the potential cost of living in Apex? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Apex stands at 122, making it 22% higher 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.

If you're in pursuit of an economical living environment, Apex may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Apex falls within this bracket.

When it comes to the cost of living in Apex, 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 76.8% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Apex?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 21 locals to understand their opinions on the cost of living in Apex. The results indicated that 48% found it reasonably priced with decreasing prices of goods and services, while 52% viewed it as quite expensive, with increasing prices.

Is Apex Affordable?

Is Apex 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 Apex, the median home price is 88.7% higher than the national average and monthly rent prices are 49.1% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Apex boasting a median household income of $112,549, 103.4% higher than the national average.

What Factors can Influence the Cost of Living in Apex?

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Apex starts at 4.75% and the income tax rates start at 4.99%.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Apex, healthcare costs are 11.5% higher than the national average.

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 Apex, the utilities index stands at 1.8% lower than the national average.

Where is the Data From?

The Apex cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Apex is 30% higher than the North Carolina average
  • The cost of living in Apex is 22% higher than the national average
  • Apex housing is 77% higher than the national average
  • North Carolina general sales tax is 7% lower than the national average
  • North Carolina state income tax is 83% higher than the national average

Most Affordable Places to Live in and Around Apex

See all the best places to live around Apex

Compare Apex, NC Cost of Living

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      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$132,959$11,080$3,102$3,989
      Renters$73,015$6,085$1,704$2,191
      To approximate the cost of living and the housing affordability in Apex, NC, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Apex have a median income of $132,959. Therefore, the amount that a consumer should spend on housing costs should be no more than $3,102 per month to avoid calamity and poverty. The renters in the city have an income of about $73,015, which would make their monthly maximum allowable rental costs $1,704.

      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 4.75% 4.75%

      Goods & Services

      Item Apex National avg. Difference
      Haircut $19.00$24.2621.7%
      Beauty Salon $29.58$45.5635.1%
      Toothpaste $3.65$3.701.4%
      Shampoo $1.09$1.2815.1%
      Movie $10.27$12.1315.3%
      Bowling $11.00$18.0038.9%

      Groceries

      Item Apex National avg. Difference
      Ground Beef $5.93$5.841.5%
      Fried Chicken $1.59$1.570.9%
      Milk $4.57$4.672.1%
      Potatoes $5.18$4.934.9%
      Pizza $10.47$12.0913.4%
      Beer $10.29$10.411.1%

      Health Care

      Item Apex National avg. Difference
      Optometrist $141.56$125.6812.6%
      Doctor $136.38$135.780.4%
      Dentist $100.17$113.2911.6%
      Ibuprofen $10.24$10.653.9%
      Lipitor $429.52$468.608.3%

      Housing

      Item Apex National avg. Difference
      Home Price $348,500.00$184,700.0088.7%
      Avg. Mortgage Payment $1,813.02$2,346.6922.7%
      Apartment Rent $1,415.00$949.0049.1%

      Transportation

      Item Apex National avg. Difference
      Gasoline $3.45$3.460.5%
      Tire Balancing $63.55$59.926.1%

      Utilities

      Item Apex National avg. Difference
      All Electricity $201.14$193.993.7%
      Phone $187.32$192.252.6%
      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.
      Moncure, NC7988020.0%
      Garner, NC30,3451054.9%
      Raleigh, NC469,69811110.5%
      Fuquay-Varina, NC29,11011312.8%
      Morrisville, NC27,58211919.1%
      Apex, NC55,22012222.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Gilroy, CA55,22718281.7%
      Carson City, NV55,24411414.5%
      Chicopee, MA55,1861055.3%
      Kettering, OH55,271945.8%
      Hempstead, NY55,15313635.8%
      Apex, NC55,22012222.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.