D+
19%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
73%
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 Morrisville North Carolina National
Cost of living11994100
Goods & Services9798100
Groceries10398100
Health care106108100
Housing17385100
Transportation8992100
Utilities8994100

An Overview of Cost of Living in Morrisville, NC

The cost of living in Morrisville 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 Morrisville is 119, which is 19% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Housing costs are a very significant part of the Morrisville 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 72.5% 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 Morrisville?

Locals have the inside scoop on their city. So, we polled 22 residents in Morrisville to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 18% find it reasonable with decreasing prices, but 82% think it's quite pricey, with prices that continue to rise.

Is Morrisville Affordable?

Is Morrisville affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Morrisville, for instance, where the median home price falls 80.6% higher than the national average, and monthly rent rates are 53.7% higher than usual. Additionally, median income levels contribute to the equation, with Morrisville flaunting a median household income of $100,495, 81.7% higher than the national norm.

What Factors can Influence the Cost of Living in Morrisville?

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 Morrisville, the baseline sales tax rate begins at 4.75%, and income tax rates start at 4.99%.

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Morrisville, the groceries index is 2.5% higher than the national average.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Morrisville, the transportation index is 11.2% lower than the national average.

Where is the Data From?

The Morrisville 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Morrisville is 27% higher than the North Carolina average
  • The cost of living in Morrisville is 19% higher than the national average
  • Morrisville housing is 73% 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 Morrisville

See all the best places to live around Morrisville

Compare Morrisville, 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$127,012$10,584$2,963$3,811
      Renters$81,747$6,812$1,907$2,453
      To approximate the cost of living and the housing affordability in Morrisville, 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 Morrisville have a median income of $127,012. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,963 per month to avoid calamity and poverty. The renters in the city have an income of about $81,747, which would make their monthly maximum allowable rental costs $1,907.

      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 Morrisville National avg. Difference
      Haircut $26.10$24.267.6%
      Beauty Salon $53.19$45.5616.7%
      Toothpaste $3.81$3.702.9%
      Shampoo $1.27$1.280.8%
      Movie $12.67$12.134.4%
      Bowling $20.20$18.0012.2%

      Groceries

      Item Morrisville National avg. Difference
      Ground Beef $6.13$5.844.9%
      Fried Chicken $1.50$1.574.4%
      Milk $4.61$4.671.4%
      Potatoes $5.05$4.932.4%
      Pizza $10.79$12.0910.7%
      Beer $10.35$10.410.6%

      Health Care

      Item Morrisville National avg. Difference
      Optometrist $113.17$125.6810.0%
      Doctor $146.11$135.787.6%
      Dentist $149.50$113.2932.0%
      Ibuprofen $10.91$10.652.4%
      Lipitor $438.85$468.606.3%

      Housing

      Item Morrisville National avg. Difference
      Home Price $333,500.00$184,700.0080.6%
      Avg. Mortgage Payment $2,113.73$2,346.699.9%
      Apartment Rent $1,459.00$949.0053.7%

      Transportation

      Item Morrisville National avg. Difference
      Gasoline $3.36$3.462.9%
      Tire Balancing $50.00$59.9216.6%

      Utilities

      Item Morrisville National avg. Difference
      All Electricity $191.72$193.991.2%
      Phone $186.28$192.253.1%
      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%
      Gorman, NC979954.9%
      Garner, NC30,3451054.9%
      Durham, NC276,3411055.4%
      Raleigh, NC469,69811110.5%
      Morrisville, NC27,58211919.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Converse, TX27,582991.5%
      Milton, MA27,59016969.3%
      South Laurel, MD27,59313332.7%
      Monroeville, PA27,564981.8%
      Tualatin, OR27,60114039.8%
      Morrisville, NC27,58211919.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.