Cost Of Living in Seven Lakes, NC

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	Seven Lakes	North Carolina	National
Cost of living	114	94	100
Goods & Services	97	98	100
Groceries	95	98	100
Health care	118	108	100
Housing	157	85	100
Transportation	78	92	100
Utilities	96	94	100

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Cost Of Living Quick Facts

The cost of living in Seven Lakes is 21% higher than the North Carolina average
The cost of living in Seven Lakes is 14% higher than the national average
Seven Lakes housing is 57% 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

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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	$77,799	$6,483	$1,815	$2,334
Renters	$33,643	$2,804	$785	$1,009

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Seven Lakes, NC, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Seven Lakes homeowners, is $77,799. This would allow for a maximum of $1,815 per month to be spent on housing costs. For renters, the median monthly income is $33,643 which would result in a maximum of $785 to be spent on rental 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	Seven Lakes	National avg.	Difference
Haircut	$13.43	$24.26	44.6%
Beauty Salon	$27.71	$45.56	39.2%
Toothpaste	$3.63	$3.70	1.9%
Shampoo	$1.27	$1.28	0.6%
Movie	$6.22	$12.13	48.7%
Bowling	$24.08	$18.00	33.8%

Groceries

Item	Seven Lakes	National avg.	Difference
Ground Beef	$5.74	$5.84	1.6%
Fried Chicken	$1.39	$1.57	11.7%
Milk	$4.55	$4.67	2.6%
Potatoes	$5.21	$4.93	5.5%
Pizza	$13.12	$12.09	8.5%
Beer	$10.20	$10.41	2.1%

Health Care

Item	Seven Lakes	National avg.	Difference
Optometrist	$183.44	$125.68	46.0%
Doctor	$194.39	$135.78	43.2%
Dentist	$137.94	$113.29	21.8%
Ibuprofen	$10.44	$10.65	2.0%
Lipitor	$348.71	$468.60	25.6%

Housing

Item	Seven Lakes	National avg.	Difference
Home Price	$324,900.00	$184,700.00	75.9%
Avg. Mortgage Payment	$1,522.05	$2,346.69	35.1%
Apartment Rent	$1,071.00	$949.00	12.9%

Transportation

Item	Seven Lakes	National avg.	Difference
Gasoline	$3.44	$3.46	0.5%
Tire Balancing	$15.83	$59.92	73.6%

Utilities

Item	Seven Lakes	National avg.	Difference
All Electricity	$183.26	$193.99	5.5%
Phone	$186.67	$192.25	2.9%

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.
Ellerbe, NC	1,032	80	20.0%
Robbins, NC	1,615	81	19.1%
Norman, NC	197	84	16.3%
Star, NC	1,327	84	16.3%
Candor, NC	1,173	84	15.7%
Seven Lakes, NC	4,438	114	13.6%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Armona, CA	4,437	110	9.8%
Parker, FL	4,439	95	4.8%
Miami Heights, OH	4,439	113	12.5%
Belton, SC	4,436	87	13.4%
Armonk, NY	4,440	204	103.7%
Seven Lakes, NC	4,438	114	13.6%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Seven Lakes, NC