B+
6%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
30%
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 Mooresville North Carolina National
Cost of living10694100
Goods & Services9198100
Groceries9798100
Health care95108100
Housing13085100
Transportation10192100
Utilities10194100

An Overview of Cost of Living in Mooresville, NC

Are you thinking about relocating, but curious about the potential cost of living in Mooresville? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Mooresville stands at 106, making it 6% 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.

The cost of living in Mooresville 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. Mooresville 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.

Housing costs are a very significant part of the Mooresville cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 30.4% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

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

The real experts on a city are its residents. That's why we reached out to 5 locals to get their views on the cost of living in Mooresville. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 40% found it budget-friendly with decreasing prices, while 60% said it's simply not affordable as prices have continued to rise.

Is Mooresville Affordable?

Wondering if Mooresville is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Mooresville, for example, the median home price is 33.1% higher than what folks pay nationally, and monthly rent is 23.9% higher than the usual rates. Plus, income levels matter too, with Mooresville boasting a median household income of $70,625, which is 27.7% higher than the national average.

What Factors can Influence the Cost of Living in Mooresville?

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Mooresville, the baseline sales tax rate begins at 4.75%, and income tax rates start at 4.99%.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as 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 with fewer subsidy offerings might experience an elevation in their cost of living.

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 Mooresville, the transportation index stands at 1.4% higher than the national average.

Where is the Data From?

The Mooresville cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors 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 Mooresville is 13% higher than the North Carolina average
  • The cost of living in Mooresville is 6% higher than the national average
  • Mooresville housing is 30% 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 Mooresville

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Compare Mooresville, 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$85,101$7,092$1,986$2,553
      Renters$54,758$4,563$1,278$1,643
      To approximate the cost of living and the housing affordability in Mooresville, 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 Mooresville have a median income of $85,101. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,986 per month to avoid calamity and poverty. The renters in the city have an income of about $54,758, which would make their monthly maximum allowable rental costs $1,278.

      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 Mooresville 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 Mooresville 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 Mooresville 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 Mooresville National avg. Difference
      Home Price $245,900.00$184,700.0033.1%
      Avg. Mortgage Payment $2,004.78$2,346.6914.6%
      Apartment Rent $1,176.00$949.0023.9%

      Transportation

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

      Utilities

      Item Mooresville 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.
      Catawba, NC5888712.6%
      Enochville, NC3,3588712.5%
      China Grove, NC4,2258812.4%
      Cleveland, NC1,1478811.6%
      Statesville, NC27,114927.8%
      Mooresville, NC38,4981065.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Hobbs, NM38,475937.4%
      Pleasant Grove, UT38,47411818.4%
      Florence, SC38,535955.2%
      Lynnwood, WA38,53814343.3%
      Evans, GA38,4431087.9%
      Mooresville, NC38,4981065.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.