C
23%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
81%
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 Holly Springs North Carolina National
Cost of living12394100
Goods & Services9998100
Groceries9898100
Health care112108100
Housing18185100
Transportation9392100
Utilities9894100

An Overview of Cost of Living in Holly Springs, NC

Are you thinking about relocating, but curious about the potential cost of living in Holly Springs? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Holly Springs stands at 123, making it 23% 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 affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Holly Springs is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Holly Springs falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs are a major factor in the Holly Springs cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 81.4% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Holly Springs?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 20 locals to understand their opinions on the cost of living in Holly Springs. The results indicated that 50% found it reasonably priced with decreasing prices of goods and services, while 50% viewed it as quite expensive, with increasing prices.

Is Holly Springs Affordable?

Is Holly Springs an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Holly Springs is 91.9% higher than the national average, while the average monthly rent prices are 56.9% higher than average. The affordability of any location can also be influenced by median income levels. Holly Springs has a median household income of $110,758, which is 100.2% higher than the national average.

What Factors can Influence the Cost of Living in Holly Springs?

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 Holly Springs, the housing index stands at 81.4% higher than the national average.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Holly Springs, the groceries index is 1.6% lower than the national average.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Holly Springs, healthcare costs are 11.5% higher than the national average.

Where is the Data From?

The Holly Springs 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. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Holly Springs is 32% higher than the North Carolina average
  • The cost of living in Holly Springs is 23% higher than the national average
  • Holly Springs housing is 81% 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 Holly Springs

See all the best places to live around Holly Springs

Compare Holly Springs, 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$120,233$10,019$2,805$3,607
      Renters$63,274$5,273$1,476$1,898
      The affordability of the housing market in Holly Springs, 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 Holly Springs homeowners, the median income is $120,233. This indicates that a monthly maximum of $2,805 should be spent by homeowners on all housing related costs. Renters have a median income of $63,274. This indicates that renters would have a maximum of $1,476 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 Holly Springs 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 Holly Springs 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 Holly Springs 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 Holly Springs National avg. Difference
      Home Price $354,500.00$184,700.0091.9%
      Avg. Mortgage Payment $1,813.02$2,346.6922.7%
      Apartment Rent $1,489.00$949.0056.9%

      Transportation

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

      Utilities

      Item Holly Springs 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%
      Angier, NC5,748954.7%
      Broadway, NC1,460964.5%
      Garner, NC30,3451054.9%
      Raleigh, NC469,69811110.5%
      Holly Springs, NC36,59512323.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Prattville, AL36,599954.9%
      Lincoln Park, MI36,5258812.3%
      Portage, IN36,524990.6%
      Rome, GA36,518909.9%
      Penticton, BC36,498n/a 
      Holly Springs, NC36,59512323.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.