A-
1%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
1%
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 Kernersville North Carolina National
Cost of living10194100
Goods & Services10698100
Groceries9798100
Health care113108100
Housing10185100
Transportation9292100
Utilities8994100

An Overview of Cost of Living in Kernersville, NC

The cost of living in Kernersville affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Kernersville is 101, which is 1% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Kernersville aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Kernersville residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Is Kernersville Affordable?

Is Kernersville 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 Kernersville, the median home price is 6.3% higher than the national average and monthly rent prices are 10.3% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Kernersville boasting a median household income of $56,991, 3% higher than the national average.

What Factors can Influence the Cost of Living in Kernersville?

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 Kernersville, healthcare costs are 12.6% higher than the national average.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including 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 farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Kernersville, the housing index is 1.3% higher than the national average.

Where is the Data From?

The Kernersville 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 Kernersville is 7% higher than the North Carolina average
  • The cost of living in Kernersville is 1% higher than the national average
  • Kernersville housing is 1% 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 Kernersville

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Compare Kernersville, NC Cost of Living

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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$88,201$7,350$2,058$2,646
      Renters$39,152$3,263$913$1,175
      To approximate the cost of living and the housing affordability in Kernersville, 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 Kernersville have a median income of $88,201. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,058 per month to avoid calamity and poverty. The renters in the city have an income of about $39,152, which would make their monthly maximum allowable rental costs $913.

      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 Kernersville National avg. Difference
      Haircut $22.17$24.268.6%
      Beauty Salon $52.72$45.5615.7%
      Toothpaste $3.64$3.701.7%
      Shampoo $1.25$1.282.6%
      Movie $11.58$12.134.6%
      Bowling $20.00$18.0011.1%

      Groceries

      Item Kernersville National avg. Difference
      Ground Beef $5.81$5.840.6%
      Fried Chicken $1.41$1.5710.6%
      Milk $4.58$4.672.0%
      Potatoes $5.01$4.931.5%
      Pizza $11.34$12.096.2%
      Beer $10.17$10.412.3%

      Health Care

      Item Kernersville National avg. Difference
      Optometrist $147.25$125.6817.2%
      Doctor $157.28$135.7815.8%
      Dentist $126.56$113.2911.7%
      Ibuprofen $10.47$10.651.7%
      Lipitor $548.33$468.6017.0%

      Housing

      Item Kernersville National avg. Difference
      Home Price $196,400.00$184,700.006.3%
      Avg. Mortgage Payment $1,737.79$2,346.6925.9%
      Apartment Rent $851.00$949.0010.3%

      Transportation

      Item Kernersville National avg. Difference
      Gasoline $3.31$3.464.2%
      Tire Balancing $48.78$59.9218.6%

      Utilities

      Item Kernersville National avg. Difference
      All Electricity $163.41$193.9915.8%
      Phone $186.82$192.252.8%
      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.
      Walnut Cove, NC2,0889010.2%
      Welcome, NC3,0508812.4%
      Germanton, NC1,124937.1%
      Archdale, NC11,7389010.5%
      Walkertown, NC5,166945.8%
      Kernersville, NC24,8761010.6%

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      City Population Cost of Living Index National Avg.
      Hastings, NE24,8788515.3%
      Sturgeon County, AB24,881n/a 
      South Bradenton, FL24,8859010.4%
      Bainbridge Island, WA24,85918787.5%
      Burlington, IA24,8588812.1%
      Kernersville, NC24,8761010.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.