Cost of Living in Lake Norman of Catawba, NC

D-
23%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
88%
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 Lake Norman of Catawba North Carolina National
Cost of living12394100
Goods & Services9198100
Groceries9798100
Health care95108100
Housing18885100
Transportation10192100
Utilities10194100
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Cost Of Living Quick Facts

  • The cost of living in Lake Norman of Catawba is 31% higher than the North Carolina average
  • The cost of living in Lake Norman of Catawba is 23% higher than the national average
  • Lake Norman of Catawba housing is 88% 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

Most Affordable Places to Live in and Around Lake Norman of Catawba

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Compare Lake Norman of Catawba, 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$88,824$7,402$2,072$2,665
      Renters$55,133$4,594$1,286$1,654
      A good indicator of the general affordability of housing in Lake Norman of Catawba, 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 Lake Norman of Catawba, the median monthly income is $88,824 for those who own their own homes. Under the standard rule, that income level would allow for $2,072 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $55,133, per the median income in the area. That would allow for renters to spend up to $1,286 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 Lake Norman of Catawba National avg. Difference
      Haircut $30.02$24.2623.7%
      Beauty Salon $39.60$45.5613.1%
      Toothpaste $3.75$3.701.3%
      Shampoo $1.34$1.284.6%
      Movie $13.67$12.1312.6%
      Bowling $18.63$18.003.5%

      Groceries

      Item Lake Norman of Catawba National avg. Difference
      Ground Beef $6.12$5.844.7%
      Fried Chicken $1.55$1.571.5%
      Milk $4.66$4.670.3%
      Potatoes $5.30$4.937.3%
      Pizza $11.64$12.093.7%
      Beer $10.31$10.410.9%

      Health Care

      Item Lake Norman of Catawba National avg. Difference
      Optometrist $131.75$125.684.8%
      Doctor $157.27$135.7815.8%
      Dentist $130.26$113.2915.0%
      Ibuprofen $10.78$10.651.2%
      Lipitor $483.22$468.603.1%

      Housing

      Item Lake Norman of Catawba National avg. Difference
      Home Price $422,000.00$184,700.00128.5%
      Avg. Mortgage Payment $2,004.78$2,346.6914.6%
      Apartment Rent $876.00$949.007.7%

      Transportation

      Item Lake Norman of Catawba National avg. Difference
      Gasoline $3.19$3.467.7%
      Tire Balancing $57.92$59.923.3%

      Utilities

      Item Lake Norman of Catawba National avg. Difference
      All Electricity $160.96$193.9917.0%
      Phone $187.97$192.252.2%
      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.
      High Shoals, NC8418712.5%
      Catawba, NC5888712.6%
      Newton, NC13,106919.2%
      Iron Station, NC539936.7%
      Conover, NC8,488928.2%
      Lake Norman of Catawba, NC8,70112322.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Cresskill, NJ8,70118483.9%
      Iqaluit, NU8,699n/a 
      Castlegar, BC8,697n/a 
      Matawan, NJ8,69613030.1%
      Angola, IN8,706927.6%
      Lake Norman of Catawba, NC8,70112322.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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