Cost of Living in Stallings, NC

An Overview of Cost of Living in Stallings, NC

Are you thinking about relocating, but curious about the potential cost of living in Stallings? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Stallings stands at 114, making it 14% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Housing costs are a very significant part of the Stallings 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 48% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Is Stallings Affordable?

Wondering if Stallings 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 Stallings, for example, the median home price is 45.1% higher than what folks pay nationally, and monthly rent is 54.8% higher than the usual rates. Plus, income levels matter too, with Stallings boasting a median household income of $90,012, which is 62.7% higher than the national average.

What Factors can Influence the Cost of Living in Stallings?

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Stallings, the standard sales tax rate starts at 4.75%, and the income tax rates commence at 4.99%.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Stallings, the utilities index registers 11.2% lower than the national average.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Stallings, the groceries index is 0.3% higher than the national average.

Where is the Data From?

The cost of living data in Stallings 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.