A+
16%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
38%
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 Reidsville North Carolina National
Cost of living8494100
Goods & Services9398100
Groceries9598100
Health care105108100
Housing6285100
Transportation9492100
Utilities8994100

An Overview of Cost of Living in Reidsville, NC

Knowing the cost of living in Reidsville allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Reidsville stands at 84, marking it 16% lower than the national average.

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

The most insightful perspective on a city comes from its residents. We recently surveyed 5 locals to gauge their perception of the cost of living in Reidsville. The feedback revealed that 40% of respondents found the cost of living to be reasonable, with prices on the decline, while 60% regarded it as notably expensive with prices that continue to rise.

Is Reidsville Affordable?

Is Reidsville 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 Reidsville, for instance, where the median home price falls 41.3% lower than the national average, and monthly rent rates are 29.6% lower than usual. Additionally, median income levels contribute to the equation, with Reidsville flaunting a median household income of $35,802, 35.3% lower than the national norm.

What Factors can Influence the Cost of Living in Reidsville?

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

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Reidsville, the groceries index is 4.8% lower than the national average.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Where is the Data From?

The Reidsville 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 Reidsville is 10% lower than the North Carolina average
  • The cost of living in Reidsville is 16% lower than the national average
  • Reidsville housing is 38% 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 Reidsville

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Compare Reidsville, 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$48,083$4,007$1,122$1,443
      Renters$23,439$1,953$547$703
      The affordability of the housing market in Reidsville, 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 Reidsville homeowners, the median income is $48,083. This indicates that a monthly maximum of $1,122 should be spent by homeowners on all housing related costs. Renters have a median income of $23,439. This indicates that renters would have a maximum of $547 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 Reidsville National avg. Difference
      Haircut $28.33$24.2616.8%
      Beauty Salon $37.66$45.5617.3%
      Toothpaste $3.67$3.700.8%
      Shampoo $1.24$1.283.4%
      Movie $12.00$12.131.1%
      Bowling $18.67$18.003.7%

      Groceries

      Item Reidsville National avg. Difference
      Ground Beef $6.17$5.845.7%
      Fried Chicken $1.42$1.579.9%
      Milk $4.49$4.673.8%
      Potatoes $5.00$4.931.3%
      Pizza $10.41$12.0913.9%
      Beer $10.25$10.411.6%

      Health Care

      Item Reidsville National avg. Difference
      Optometrist $146.78$125.6816.8%
      Doctor $174.00$135.7828.1%
      Dentist $97.67$113.2913.8%
      Ibuprofen $10.31$10.653.2%
      Lipitor $495.98$468.605.8%

      Housing

      Item Reidsville National avg. Difference
      Home Price $108,500.00$184,700.0041.3%
      Avg. Mortgage Payment $2,041.67$2,346.6913.0%
      Apartment Rent $668.00$949.0029.6%

      Transportation

      Item Reidsville National avg. Difference
      Gasoline $3.31$3.464.2%
      Tire Balancing $54.55$59.929.0%

      Utilities

      Item Reidsville National avg. Difference
      All Electricity $161.71$193.9916.6%
      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.
      Altamahaw, NC3697921.4%
      Eden, NC14,9868316.8%
      Ossipee, NC5088317.0%
      Ruffin, NC4678317.1%
      Stoneville, NC1,2448613.9%
      Reidsville, NC13,9288415.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Orange, CT13,92813635.8%
      Jericho, NY13,92819594.6%
      Sauk Rapids, MN13,9261011.0%
      Athens, TN13,9318911.0%
      Hutchinson, MN13,935982.4%
      Reidsville, NC13,9288415.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.