Cost Of Living in Swannanoa, 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	Swannanoa	North Carolina	National
Cost of living	93	94	100
Goods & Services	100	98	100
Groceries	98	98	100
Health care	110	108	100
Housing	76	85	100
Transportation	92	92	100
Utilities	108	94	100

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Cost Of Living Quick Facts

The cost of living in Swannanoa is 1% lower than the North Carolina average
The cost of living in Swannanoa is 7% lower than the national average
Swannanoa housing is 24% 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	$54,188	$4,516	$1,264	$1,626
Renters	$22,917	$1,910	$535	$688

The affordability of the housing market in Swannanoa, NC as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Swannanoa homeowners, the median income is $54,188. This indicates that a monthly maximum of $1,264 should be spent by homeowners on all housing related costs. Renters have a median income of $22,917. This indicates that renters would have a maximum of $535 for their rent related monthly costs.

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	Swannanoa	National avg.	Difference
Haircut	$28.00	$24.26	15.4%
Beauty Salon	$48.22	$45.56	5.8%
Toothpaste	$3.80	$3.70	2.6%
Shampoo	$1.33	$1.28	3.6%
Movie	$13.07	$12.13	7.7%
Bowling	$15.89	$18.00	11.7%

Groceries

Item	Swannanoa	National avg.	Difference
Ground Beef	$6.47	$5.84	10.7%
Fried Chicken	$1.46	$1.57	7.0%
Milk	$4.61	$4.67	1.3%
Potatoes	$5.27	$4.93	6.7%
Pizza	$10.44	$12.09	13.6%
Beer	$10.44	$10.41	0.3%

Health Care

Item	Swannanoa	National avg.	Difference
Optometrist	$155.11	$125.68	23.4%
Doctor	$166.73	$135.78	22.8%
Dentist	$113.89	$113.29	0.5%
Ibuprofen	$10.57	$10.65	0.7%
Lipitor	$509.86	$468.60	8.8%

Housing

Item	Swannanoa	National avg.	Difference
Home Price	$147,300.00	$184,700.00	20.2%
Avg. Mortgage Payment	$2,256.40	$2,346.69	3.8%
Apartment Rent	$641.00	$949.00	32.5%

Transportation

Item	Swannanoa	National avg.	Difference
Gasoline	$3.29	$3.46	5.0%
Tire Balancing	$49.99	$59.92	16.6%

Utilities

Item	Swannanoa	National avg.	Difference
All Electricity	$221.84	$193.99	14.4%
Phone	$186.82	$192.25	2.8%

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.
Fruitland, NC	2,216	86	14.0%
Old Fort, NC	743	86	13.7%
Hoopers Creek, NC	1,392	100	0.4%
Edneyville, NC	2,782	104	4.2%
Fletcher, NC	8,287	107	6.9%
Swannanoa, NC	4,360	93	7.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Nashville, AR	4,359	88	12.1%
Rockmart, GA	4,359	87	12.9%
Château-Richer, QC	4,359	n/a
Captain Cook, HI	4,361	180	79.8%
Holt, AL	4,358	84	16.3%
Swannanoa, NC	4,360	93	7.3%

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 Swannanoa, NC