Cost of Living in Pinehurst, NC

An Overview of Cost of Living in Pinehurst, NC

The cost of living in Pinehurst 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 Pinehurst is 118, which is 18% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Housing costs are a very significant part of the Pinehurst cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 69.2% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Pinehurst?

The real experts on a city are its residents. That's why we reached out to 5 locals to get their views on the cost of living in Pinehurst. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 60% found it budget-friendly with decreasing prices, while 40% said it's simply not affordable as prices have continued to rise.

Is Pinehurst Affordable?

Wondering if Pinehurst 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 Pinehurst, for example, the median home price is 71.5% higher than what folks pay nationally, and monthly rent is 63.8% higher than the usual rates. Plus, income levels matter too, with Pinehurst boasting a median household income of $87,609, which is 58.4% higher than the national average.

What Factors can Influence the Cost of Living in Pinehurst?

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.

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Pinehurst, the utilities index stands at 8.6% lower than the national average.

Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Pinehurst, is 69.2% higher than the national average.

Where is the Data From?

The Pinehurst 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.