A+
15%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
39%
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 Lenoir North Carolina National
Cost of living8594100
Goods & Services9198100
Groceries9798100
Health care95108100
Housing6185100
Transportation10192100
Utilities10194100

An Overview of Cost of Living in Lenoir, NC

Are you thinking about relocating, but curious about the potential cost of living in Lenoir? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Lenoir stands at 85, making it 15% 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.

Is Lenoir Affordable?

Is Lenoir 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 Lenoir is 40.4% lower than the national average, while the average monthly rent prices are 34.5% lower than average. The affordability of any location can also be influenced by median income levels. Lenoir has a median household income of $39,116, which is 29.3% lower than the national average.

What Factors can Influence the Cost of Living in Lenoir?

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 Lenoir, the groceries index is 3.4% lower than the national average.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Lenoir, the healthcare costs are 5.3% lower than the national average.

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 Lenoir starts at 4.75% and the income tax rates start at 4.99%.

Where is the Data From?

The cost of living data in Lenoir 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 Lenoir is 9% lower than the North Carolina average
  • The cost of living in Lenoir is 15% lower than the national average
  • Lenoir housing is 39% 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 Lenoir

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Compare Lenoir, 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$51,692$4,308$1,206$1,551
      Renters$24,199$2,017$565$726
      To approximate the cost of living and the housing affordability in Lenoir, 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 Lenoir have a median income of $51,692. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,206 per month to avoid calamity and poverty. The renters in the city have an income of about $24,199, which would make their monthly maximum allowable rental costs $565.

      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 Lenoir National avg. Difference
      Haircut $30.02$24.2623.7%
      Beauty Salon $39.60$45.5613.1%
      Toothpaste $3.75$3.701.3%
      Shampoo $1.34$1.284.6%
      Movie $13.67$12.1312.6%
      Bowling $18.63$18.003.5%

      Groceries

      Item Lenoir National avg. Difference
      Ground Beef $6.12$5.844.7%
      Fried Chicken $1.55$1.571.5%
      Milk $4.66$4.670.3%
      Potatoes $5.30$4.937.3%
      Pizza $11.64$12.093.7%
      Beer $10.31$10.410.9%

      Health Care

      Item Lenoir National avg. Difference
      Optometrist $131.75$125.684.8%
      Doctor $157.27$135.7815.8%
      Dentist $130.26$113.2915.0%
      Ibuprofen $10.78$10.651.2%
      Lipitor $483.22$468.603.1%

      Housing

      Item Lenoir National avg. Difference
      Home Price $110,000.00$184,700.0040.4%
      Avg. Mortgage Payment $2,004.78$2,346.6914.6%
      Apartment Rent $622.00$949.0034.5%

      Transportation

      Item Lenoir National avg. Difference
      Gasoline $3.19$3.467.7%
      Tire Balancing $57.92$59.923.3%

      Utilities

      Item Lenoir National avg. Difference
      All Electricity $160.96$193.9917.0%
      Phone $187.97$192.252.2%
      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.
      Brookford, NC4748416.3%
      Rhodhiss, NC9938614.1%
      Icard, NC2,1198812.4%
      Long View, NC4,8988812.4%
      Gamewell, NC3,8748811.8%
      Lenoir, NC17,9098514.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Palestine, TX17,9068911.0%
      Fayetteville, GA17,9021087.5%
      Sainte-Sophie, QC17,917n/a 
      Beltsville, MD17,92213232.5%
      Arroyo Grande, CA17,92416564.6%
      Lenoir, NC17,9098514.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.