A+
13%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
33%
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 Thomasville North Carolina National
Cost of living8794100
Goods & Services9798100
Groceries9598100
Health care118108100
Housing6785100
Transportation7892100
Utilities9694100

An Overview of Cost of Living in Thomasville, NC

Knowing the cost of living in Thomasville 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 Thomasville stands at 87, marking it 13% lower than the national average.

Is Thomasville Affordable?

Is Thomasville an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Thomasville is 36.1% lower than the national average, while the average monthly rent prices are 25.5% lower than average. The affordability of any location can also be influenced by median income levels. Thomasville has a median household income of $42,257, which is 23.6% lower than the national average.

What Factors can Influence the Cost of Living in Thomasville?

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Thomasville, the groceries index registers 4.9% 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.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Thomasville, the healthcare costs are 18.4% higher than the national average.

Where is the Data From?

The cost of living in Thomasville, 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 Thomasville is 8% lower than the North Carolina average
  • The cost of living in Thomasville is 13% lower than the national average
  • Thomasville housing is 33% 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 Thomasville

See all the best places to live around Thomasville

Compare Thomasville, 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$59,812$4,984$1,396$1,795
      Renters$29,138$2,428$680$874
      The affordability of the housing market in Thomasville, 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 Thomasville homeowners, the median income is $59,812. This indicates that a monthly maximum of $1,396 should be spent by homeowners on all housing related costs. Renters have a median income of $29,138. This indicates that renters would have a maximum of $680 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 Thomasville National avg. Difference
      Haircut $13.43$24.2644.6%
      Beauty Salon $27.71$45.5639.2%
      Toothpaste $3.63$3.701.9%
      Shampoo $1.27$1.280.6%
      Movie $6.22$12.1348.7%
      Bowling $24.08$18.0033.8%

      Groceries

      Item Thomasville National avg. Difference
      Ground Beef $5.74$5.841.6%
      Fried Chicken $1.39$1.5711.7%
      Milk $4.55$4.672.6%
      Potatoes $5.21$4.935.5%
      Pizza $13.12$12.098.5%
      Beer $10.20$10.412.1%

      Health Care

      Item Thomasville National avg. Difference
      Optometrist $183.44$125.6846.0%
      Doctor $194.39$135.7843.2%
      Dentist $137.94$113.2921.8%
      Ibuprofen $10.44$10.652.0%
      Lipitor $348.71$468.6025.6%

      Housing

      Item Thomasville National avg. Difference
      Home Price $118,000.00$184,700.0036.1%
      Avg. Mortgage Payment $1,522.05$2,346.6935.1%
      Apartment Rent $707.00$949.0025.5%

      Transportation

      Item Thomasville National avg. Difference
      Gasoline $3.44$3.460.5%
      Tire Balancing $15.83$59.9273.6%

      Utilities

      Item Thomasville National avg. Difference
      All Electricity $183.26$193.995.5%
      Phone $186.67$192.252.9%
      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.
      Lexington, NC18,9708514.9%
      Asheboro, NC25,8778713.4%
      Welcome, NC3,0508812.4%
      Archdale, NC11,7389010.5%
      Trinity, NC6,619919.1%
      Thomasville, NC26,8348713.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Carrollton, GA26,857954.7%
      Ilchester, MD26,87313434.4%
      New Lenox, IL26,78811717.1%
      Lindenhurst, NY26,88513939.0%
      McHenry, IL26,8891000.3%
      Thomasville, NC26,8348713.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.