C+
11%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
39%
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 Mint Hill North Carolina National
Cost of living11194100
Goods & Services10398100
Groceries10098100
Health care111108100
Housing13985100
Transportation9492100
Utilities8994100

An Overview of Cost of Living in Mint Hill, NC

Knowing the cost of living in Mint Hill 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 Mint Hill stands at 111, marking it 11% higher than the national average.

When it comes to the cost of living in Mint Hill, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 39% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Is Mint Hill Affordable?

Is Mint Hill affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Mint Hill, the median home price is 52.2% higher than the national average and monthly rent prices are 8% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Mint Hill boasting a median household income of $80,093, 44.8% higher than the national average.

What Factors can Influence the Cost of Living in Mint Hill?

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Mint Hill, the transportation index stands at 6.4% lower than the national average.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Mint Hill, the housing index is 39% higher than the national average.

Where is the Data From?

The Mint Hill cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Mint Hill is 19% higher than the North Carolina average
  • The cost of living in Mint Hill is 11% higher than the national average
  • Mint Hill housing is 39% 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 Mint Hill

See all the best places to live around Mint Hill

Compare Mint Hill, 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$91,992$7,666$2,146$2,760
      Renters$52,941$4,412$1,235$1,588
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Mint Hill, NC, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Mint Hill, homeowners have a median income of $91,992. Using that number, a maximum of $2,146 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $52,941, which means there is a maximum of $1,235 to be spent on the costs of renting a home or apartment.

      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 Mint Hill National avg. Difference
      Haircut $18.25$24.2624.8%
      Beauty Salon $59.75$45.5631.1%
      Toothpaste $3.81$3.702.8%
      Shampoo $1.27$1.280.7%
      Movie $13.55$12.1311.7%
      Bowling $21.67$18.0020.4%

      Groceries

      Item Mint Hill National avg. Difference
      Ground Beef $6.27$5.847.3%
      Fried Chicken $1.39$1.5711.5%
      Milk $4.61$4.671.2%
      Potatoes $4.98$4.931.0%
      Pizza $10.96$12.099.3%
      Beer $10.47$10.410.5%

      Health Care

      Item Mint Hill National avg. Difference
      Optometrist $143.74$125.6814.4%
      Doctor $148.29$135.789.2%
      Dentist $115.52$113.292.0%
      Ibuprofen $10.77$10.651.1%
      Lipitor $467.34$468.600.3%

      Housing

      Item Mint Hill National avg. Difference
      Home Price $281,200.00$184,700.0052.2%
      Avg. Mortgage Payment $3,159.30$2,346.6934.6%
      Apartment Rent $1,025.00$949.008.0%

      Transportation

      Item Mint Hill National avg. Difference
      Gasoline $3.29$3.464.9%
      Tire Balancing $53.32$59.9211.0%

      Utilities

      Item Mint Hill National avg. Difference
      All Electricity $167.89$193.9913.5%
      Phone $189.90$192.251.2%
      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.
      Wingate, NC4,456963.8%
      Locust, NC3,439982.3%
      Hemby Bridge, NC1,853982.2%
      Monroe, NC35,339991.2%
      Fairview CDP, NC3,016990.6%
      Mint Hill, NC27,25811111.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Dieppe, NB27,260n/a 
      Lake Jackson, TX27,2691043.6%
      Easton, PA27,274972.6%
      Elmira, NY27,2368712.8%
      Horn Lake, MS27,2348811.6%
      Mint Hill, NC27,25811111.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.