A+
10%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
29%
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 Tarboro North Carolina National
Cost of living9094100
Goods & Services9998100
Groceries9898100
Health care112108100
Housing7185100
Transportation9392100
Utilities9894100

An Overview of Cost of Living in Tarboro, NC

Understanding the cost of living in Tarboro can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Tarboro cost of living index is 90, which is 10% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Everyday expenditures like food, housing, goods and services, transportation and health care in Tarboro are priced in a manner consistent with other areas. This means that residents of Tarboro can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Tarboro Affordable?

Wondering if Tarboro 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 Tarboro, for example, the median home price is 28.6% lower than what folks pay nationally, and monthly rent is 28.2% lower than the usual rates. Plus, income levels matter too, with Tarboro boasting a median household income of $41,223, which is 25.5% lower than the national average.

What Factors can Influence the Cost of Living in Tarboro?

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Tarboro, the general sales tax rate starts at 4.75%, and income tax rates begin at 4.99%.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Tarboro, the transportation index is 6.9% lower than the national average.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Tarboro, healthcare costs are 11.5% higher than the national average.

Where is the Data From?

The Tarboro 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 Tarboro is 3% lower than the North Carolina average
  • The cost of living in Tarboro is 10% lower than the national average
  • Tarboro housing is 29% 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 Tarboro

See all the best places to live around Tarboro

Compare Tarboro, 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$69,347$5,779$1,618$2,081
      Renters$24,028$2,002$561$721
      The affordability of the housing market in Tarboro, 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 Tarboro homeowners, the median income is $69,347. This indicates that a monthly maximum of $1,618 should be spent by homeowners on all housing related costs. Renters have a median income of $24,028. This indicates that renters would have a maximum of $561 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 Tarboro 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 Tarboro 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 Tarboro 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 Tarboro National avg. Difference
      Home Price $131,800.00$184,700.0028.6%
      Avg. Mortgage Payment $1,813.02$2,346.6922.7%
      Apartment Rent $681.00$949.0028.2%

      Transportation

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

      Utilities

      Item Tarboro 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.
      Belvoir, NC452991.4%
      Speed, NC83991.4%
      Falkland, NC183991.4%
      Leggett, NC438118.8%
      Pinetops, NC1,4128416.3%
      Tarboro, NC10,806909.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Yazoo City, MS10,8067920.7%
      Halfway, MD10,8041044.2%
      Saint-Raymond, QC10,809n/a 
      Saint-Sauveur, QC10,802n/a 
      Totowa, NJ10,81012929.3%
      Tarboro, NC10,806909.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.