Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

10 Most Expensive Cities to Live in North Carolina

If you are thinking of moving to the Old North State, you should be aware of the 10 most expensive cities to live in North Carolina, which is one of the most populous states in the United States of America. Although the general cost of living in this state is 4.6% lower than the US average, there are certain cities to be aware of if one has a low budget.

 Most Expensive Cities to Live in North Carolina


North Carolina previously had nothing to rely on for its economy other than a few industries like textile and tobacco. Now, however, its economy is boosting with great speed, expanding into finance, energy, and engineering sectors. Therefore, it’s a great place to live in employment wise, since the unemployment rate here is 6%, which is below the rate in an average city in the US. Furthermore, this state attracts many tourists to behold the amazing view of the Appalachian Mountains or to swim in the Carolina Beach. The North Carolina Museum of Art is also an interesting place to visit. Nevertheless, if you are still not convinced and want to consider another state to move to, you can see our list of 10 most expensive cities to live in Illinois.

Coming back to the 10 most expensive cities to live in North Carolina, it’s surprising that the capital city of this state (Raleigh) and the biggest one (Charlotte) have not made it into the list. To create our list, first, we have taken into account only the cities with a population of above 10,000 residents, and then out of those cities, we found 20 with the highest overall costs of living indexes. The overall cost of living index provides a comparison with the average living expenses in the US, i.e. if the index is 110, it means that the cost is 10% above the average, and it combines the effect of healthcare, housing, groceries, transport and utility expenses and miscellaneous. Those 20 cities were then ranked separately by healthcare index, housing index, transport index, and utility index, and the average ranking was calculated for all of them, hence getting the final list of the priciest cities in North Carolina. One may wonder why did we exclude “miscellaneous” from the categories, and here is an explanation for that: since the cost of miscellaneous index represents costs of things like restaurants and entertainment, which are not as necessary as all the other categories, we decided to exclude it. Otherwise, with taking that category into account also, we could have just used the overall cost of living index. But, we found that the mentioned 4 categories are far more relevant, and they make a more precise picture of the expenses that must be made. All statistics of the population have been extracted from City-Data whereas details of costs of living have been seen from Sperling’s Best Places.

The components of the factors used are explained as under:

  • Grocery – Includes general cost of food in grocery stores.
  • Health – Includes average daily rate of a hospital room and charges of a visit to the doctor counting dental checkup as well.
  • Utility – Includes average cost of heating or cooling a house, along with electricity and natural gas expenses.
  • Transportation – Includes gas expenses, car insurance and maintenance of vehicles.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.