A+
8%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
24%
Housing NAT. AVG.
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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 Goldsboro North Carolina National
Cost of living9294100
Goods & Services9998100
Groceries9898100
Health care112108100
Housing7685100
Transportation9392100
Utilities9894100

An Overview of Cost of Living in Goldsboro, NC

Are you thinking about relocating, but curious about the potential cost of living in Goldsboro? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Goldsboro stands at 92, making it 8% lower 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.

In Goldsboro, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Goldsboro will resemble that of an average city, contributing to a manageable cost of living.

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

Nobody knows their city better than the people who actually live there. So, we asked 12 local residents how they would rate the cost of living in Goldsboro and this is how they responded. 25% of people said that the cost of living was affordable, with prices decreasing, while 75% of people said that the cost of living was very expensive and prices continue to rise.

Is Goldsboro Affordable?

Is Goldsboro 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 Goldsboro, the median home price is 27.3% lower than the national average and monthly rent prices are 15.8% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Goldsboro boasting a median household income of $37,556, 32.1% lower than the national average.

What Factors can Influence the Cost of Living in Goldsboro?

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Goldsboro, the transportation index stands at 6.9% lower than the national average.

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Goldsboro, the standard sales tax rate starts at 4.75%, and the income tax rates commence at 4.99%.

Where is the Data From?

The cost of living data in Goldsboro displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Goldsboro is 2% lower than the North Carolina average
  • The cost of living in Goldsboro is 8% lower than the national average
  • Goldsboro housing is 24% 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

Most Affordable Places to Live in and Around Goldsboro

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Compare Goldsboro, 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$51,447$4,287$1,200$1,544
      Renters$26,974$2,248$629$809
      The affordability of the housing market in Goldsboro, NC as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Goldsboro homeowners, the median income is $51,447. This indicates that a monthly maximum of $1,200 should be spent by homeowners on all housing related costs. Renters have a median income of $26,974. This indicates that renters would have a maximum of $629 for their rent related monthly costs.

      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 Goldsboro 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 Goldsboro 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 Goldsboro 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 Goldsboro National avg. Difference
      Home Price $134,200.00$184,700.0027.3%
      Avg. Mortgage Payment $1,813.02$2,346.6922.7%
      Apartment Rent $799.00$949.0015.8%

      Transportation

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

      Utilities

      Item Goldsboro 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.
      Brogden, NC2,3068515.0%
      Fremont, NC9908514.8%
      Eureka, NC2158613.6%
      Mount Olive, NC4,6708712.9%
      La Grange, NC2,6588712.6%
      Goldsboro, NC34,610928.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Goshen, IN34,5868713.3%
      Dakota Ridge, CO34,65513131.0%
      Leawood, KS34,70213535.1%
      Owings Mills, MD34,71111817.7%
      Boardman, OH34,7178910.7%
      Goldsboro, NC34,610928.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.