A+
7%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
11%
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 High Point North Carolina National
Cost of living9394100
Goods & Services9798100
Groceries9598100
Health care118108100
Housing8985100
Transportation7892100
Utilities9694100

An Overview of Cost of Living in High Point, NC

The cost of living in High Point affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in High Point is 93, which is 7% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in High Point aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. High Point residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Is High Point Affordable?

Is High Point 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 High Point is 12.3% lower than the national average, while the average monthly rent prices are 7.3% lower than average. The affordability of any location can also be influenced by median income levels. High Point has a median household income of $49,649, which is 10.3% lower than the national average.

What Factors can Influence the Cost of Living in High Point?

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in High Point comes in at 4.4% lower than the national average.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In High Point, the housing index is 10.8% lower than the national average.

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In High Point, the groceries index is 4.9% lower than the national average.

Where is the Data From?

The cost of living data in High Point displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in High Point is equal to the North Carolina average
  • The cost of living in High Point is 7% lower than the national average
  • High Point housing is 11% 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 High Point

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Compare High Point, 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$71,457$5,955$1,667$2,144
      Renters$32,717$2,726$763$982
      A good indicator of the general affordability of housing in High Point, NC, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In High Point, the median monthly income is $71,457 for those who own their own homes. Under the standard rule, that income level would allow for $1,667 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $32,717, per the median income in the area. That would allow for renters to spend up to $763 on monthly rental expenses.

      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 High Point 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 High Point 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 High Point 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 High Point National avg. Difference
      Home Price $162,000.00$184,700.0012.3%
      Avg. Mortgage Payment $1,522.05$2,346.6935.1%
      Apartment Rent $880.00$949.007.3%

      Transportation

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

      Utilities

      Item High Point 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%
      Thomasville, NC26,8348713.4%
      Randleman, NC4,1248712.8%
      Welcome, NC3,0508812.4%
      Archdale, NC11,7389010.5%
      High Point, NC112,434936.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Manchester, NH112,44112020.0%
      Peoria, IL112,6448911.3%
      Clovis, CA112,66312828.2%
      Delta, BC112,691n/a 
      Elgin, IL112,0621055.3%
      High Point, NC112,434936.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.