A+
11%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
34%
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 Rocky Mount North Carolina National
Cost of living8994100
Goods & Services9998100
Groceries9898100
Health care112108100
Housing6685100
Transportation9392100
Utilities9894100

An Overview of Cost of Living in Rocky Mount, NC

Knowing the cost of living in Rocky Mount 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 Rocky Mount stands at 89, marking it 11% lower than the national average.

What Do Locals Say About the Cost of Living in Rocky Mount?

Locals have the inside scoop on their city. So, we polled 22 residents in Rocky Mount 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? 27% find it reasonable with decreasing prices, but 73% think it's quite pricey, with prices that continue to rise.

Is Rocky Mount Affordable?

Is Rocky Mount an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Rocky Mount, the median home price is 40.6% lower than what most folks pay across the country, and monthly rent prices are 17.6% lower than the usual rates. Income levels in Rocky Mount come in at $42,691, which is 22.8% lower than the national average.

What Factors can Influence the Cost of Living in Rocky Mount?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Rocky Mount, the transportation index is 6.9% lower than the national average.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety 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 farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

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

Where is the Data From?

The cost of living in Rocky Mount, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Rocky Mount is 5% lower than the North Carolina average
  • The cost of living in Rocky Mount is 11% lower than the national average
  • Rocky Mount housing is 34% 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 Rocky Mount

See all the best places to live around Rocky Mount

Compare Rocky Mount, 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$58,929$4,911$1,375$1,768
      Renters$31,845$2,654$743$955
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Rocky Mount, NC, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Rocky Mount, homeowners have a median income of $58,929. Using that number, a maximum of $1,375 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $31,845, which means there is a maximum of $743 to be spent on the costs of renting a home or apartment.

      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 Rocky Mount National avg. Difference
      Haircut $19.00$24.2621.7%
      Beauty Salon $29.58$45.5635.1%
      Toothpaste $3.65$3.701.4%
      Shampoo $1.09$1.2815.1%
      Movie $10.27$12.1315.3%
      Bowling $11.00$18.0038.9%

      Groceries

      Item Rocky Mount National avg. Difference
      Ground Beef $5.93$5.841.5%
      Fried Chicken $1.59$1.570.9%
      Milk $4.57$4.672.1%
      Potatoes $5.18$4.934.9%
      Pizza $10.47$12.0913.4%
      Beer $10.29$10.411.1%

      Health Care

      Item Rocky Mount National avg. Difference
      Optometrist $141.56$125.6812.6%
      Doctor $136.38$135.780.4%
      Dentist $100.17$113.2911.6%
      Ibuprofen $10.24$10.653.9%
      Lipitor $429.52$468.608.3%

      Housing

      Item Rocky Mount National avg. Difference
      Home Price $109,700.00$184,700.0040.6%
      Avg. Mortgage Payment $1,813.02$2,346.6922.7%
      Apartment Rent $782.00$949.0017.6%

      Transportation

      Item Rocky Mount National avg. Difference
      Gasoline $3.45$3.460.5%
      Tire Balancing $63.55$59.926.1%

      Utilities

      Item Rocky Mount National avg. Difference
      All Electricity $201.14$193.993.7%
      Phone $187.32$192.252.6%
      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.
      Momeyer, NC4308119.0%
      Leggett, NC438118.8%
      Pinetops, NC1,4128416.3%
      Whitakers, NC5818515.5%
      Elm City, NC1,7018515.0%
      Rocky Mount, NC54,3308911.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Decatur, AL54,3448811.9%
      Yucaipa, CA54,35812828.2%
      Albany, OR54,44211010.0%
      Colton, CA54,21512222.2%
      Westchester, FL54,47012625.5%
      Rocky Mount, NC54,3308911.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.