Cost Of Living in Selma, NC

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	Selma	North Carolina	National
Cost of living	88	94	100
Goods & Services	99	98	100
Groceries	98	98	100
Health care	112	108	100
Housing	64	85	100
Transportation	93	92	100
Utilities	98	94	100

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Cost Of Living Quick Facts

The cost of living in Selma is 6% lower than the North Carolina average
The cost of living in Selma is 12% lower than the national average
Selma housing is 36% 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

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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	$41,513	$3,459	$969	$1,246
Renters	$19,803	$1,650	$462	$594

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Selma, 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 Selma, homeowners have a median income of $41,513. Using that number, a maximum of $969 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $19,803, which means there is a maximum of $462 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	Selma	National avg.	Difference
Haircut	$19.00	$24.26	21.7%
Beauty Salon	$29.58	$45.56	35.1%
Toothpaste	$3.65	$3.70	1.4%
Shampoo	$1.09	$1.28	15.1%
Movie	$10.27	$12.13	15.3%
Bowling	$11.00	$18.00	38.9%

Groceries

Item	Selma	National avg.	Difference
Ground Beef	$5.93	$5.84	1.5%
Fried Chicken	$1.59	$1.57	0.9%
Milk	$4.57	$4.67	2.1%
Potatoes	$5.18	$4.93	4.9%
Pizza	$10.47	$12.09	13.4%
Beer	$10.29	$10.41	1.1%

Health Care

Item	Selma	National avg.	Difference
Optometrist	$141.56	$125.68	12.6%
Doctor	$136.38	$135.78	0.4%
Dentist	$100.17	$113.29	11.6%
Ibuprofen	$10.24	$10.65	3.9%
Lipitor	$429.52	$468.60	8.3%

Housing

Item	Selma	National avg.	Difference
Home Price	$110,600.00	$184,700.00	40.1%
Avg. Mortgage Payment	$1,813.02	$2,346.69	22.7%
Apartment Rent	$697.00	$949.00	26.6%

Transportation

Item	Selma	National avg.	Difference
Gasoline	$3.45	$3.46	0.5%
Tire Balancing	$63.55	$59.92	6.1%

Utilities

Item	Selma	National avg.	Difference
All Electricity	$201.14	$193.99	3.7%
Phone	$187.32	$192.25	2.6%

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.
Princeton, NC	1,396	88	12.2%
Kenly, NC	2,385	88	12.0%
Benson, NC	3,843	89	11.2%
Micro, NC	688	90	10.2%
Pine Level, NC	2,188	90	9.8%
Selma, NC	6,950	88	11.8%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Huntingdon, PA	6,950	93	7.3%
Plymouth, MA	6,949	137	36.6%
Asbestos, QC	6,948	n/a
Marshall, MI	6,947	88	11.8%
Oakdale, NY	6,947	144	43.9%
Selma, NC	6,950	88	11.8%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Selma, NC