Cost Of Living in Canton, NC

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	Canton	North Carolina	National
Cost of living	94	94	100
Goods & Services	100	98	100
Groceries	98	98	100
Health care	110	108	100
Housing	80	85	100
Transportation	92	92	100
Utilities	108	94	100

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Cost Of Living Quick Facts

The cost of living in Canton is equal to the North Carolina average
The cost of living in Canton is 6% lower than the national average
Canton housing is 20% lower 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

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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	$54,772	$4,564	$1,278	$1,643
Renters	$29,936	$2,495	$698	$898

A good indicator of the general affordability of housing in Canton, NC, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Canton, the median monthly income is $54,772 for those who own their own homes. Under the standard rule, that income level would allow for $1,278 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $29,936, per the median income in the area. That would allow for renters to spend up to $698 on monthly rental expenses.

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	Canton	National avg.	Difference
Haircut	$28.00	$24.26	15.4%
Beauty Salon	$48.22	$45.56	5.8%
Toothpaste	$3.80	$3.70	2.6%
Shampoo	$1.33	$1.28	3.6%
Movie	$13.07	$12.13	7.7%
Bowling	$15.89	$18.00	11.7%

Groceries

Item	Canton	National avg.	Difference
Ground Beef	$6.47	$5.84	10.7%
Fried Chicken	$1.46	$1.57	7.0%
Milk	$4.61	$4.67	1.3%
Potatoes	$5.27	$4.93	6.7%
Pizza	$10.44	$12.09	13.6%
Beer	$10.44	$10.41	0.3%

Health Care

Item	Canton	National avg.	Difference
Optometrist	$155.11	$125.68	23.4%
Doctor	$166.73	$135.78	22.8%
Dentist	$113.89	$113.29	0.5%
Ibuprofen	$10.57	$10.65	0.7%
Lipitor	$509.86	$468.60	8.8%

Housing

Item	Canton	National avg.	Difference
Home Price	$155,100.00	$184,700.00	16.0%
Avg. Mortgage Payment	$2,256.40	$2,346.69	3.8%
Apartment Rent	$676.00	$949.00	28.8%

Transportation

Item	Canton	National avg.	Difference
Gasoline	$3.29	$3.46	5.0%
Tire Balancing	$49.99	$59.92	16.6%

Utilities

Item	Canton	National avg.	Difference
All Electricity	$221.84	$193.99	14.4%
Phone	$186.82	$192.25	2.8%

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.
West Canton, NC	1,432	93	6.5%
Clyde, NC	1,483	96	4.0%
Waynesville, NC	10,145	96	3.5%
Maggie Valley, NC	1,843	103	2.9%
Lake Junaluska, NC	3,252	106	5.6%
Canton, NC	4,313	94	6.0%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Atlantic Highlands, NJ	4,312	150	49.9%
Laurel, DE	4,311	96	4.3%
University Gardens, NY	4,310	189	89.3%
East Troy, WI	4,310	104	4.2%
Barrow, AK	4,316	126	25.6%
Canton, NC	4,313	94	6.0%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Canton, NC