Morganton, NC Cost Of Living
Cost Of Living In Morganton, NC Summary
Cost of living in Morganton research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Morganton is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in North Carolina, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Morganton is 95, with 100 being the average.
The cost of living index in Morganton is 0.9x lower than the national average.
Morganton ranks as the #71 cheapest in North Carolina out of 153.
Morganton ranks as the #2,449 cheapest out of 6,412 in the US.
The median home value in Morganton is $158,400.
The median income in Morganton is $43,103.
Table Of Contents
Morganton's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Morganton, NC?
According to the most recent data on the cost of living, Morganton has an overall cost of living index of 95, which is 0.9x lower than the national index of 100.
Compared to North Carolina, Morganton has a cost of living index that's 1.0x lower than North Carolina's index of 95.
The standard of living in Morganton ranks as #71 most affordable out of the 153 places we measured in North Carolina. By definition, that implies Morganton ranks as the #82 most expensive place in the Tar Heel State.
For more reading on life in Morganton, check out:
- Living In Morganton
- Morganton Crime Report
- Search Homes For Sale In Morganton, NC
In North Carolina
In America
Morganton Cost Of Living Vs. North Carolina
Six factors go into calculating the cost of living index in Morganton. Here is how it fairs on each of the criteria:
The Services index in Morganton is 98.
The Groceries index in Morganton is 99.
The Health index in Morganton is 116.
The Housing index in Morganton is 72.
The Transportation index in Morganton is 102.
The Utilities index in Morganton is 107.
| Living Expense | Morganton | North Carolina | National Average | |
|---|---|---|---|---|
| Overall | 95 | 95 | 100 | |
| Services | 98 | 97 | 100 | |
| Groceries | 99 | 98 | 100 | |
| Health | 116 | 108 | 100 | |
| Housing | 72 | 91 | 100 | |
| Transportation | 102 | 92 | 100 | |
| Utilities | 107 | 95 | 100 | |
Morganton, NC Housing Cost Breakdown
Housing swings affordability the most between places in North Carolina, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Morganton is $158,400.
The Median Rent in Morganton is $726.
The Median Income in Morganton is $43,103.
The Home Value To Income in Morganton is 3.7x.
The Rent To Monthly Income in Morganton is 0.2x.
| Statistic | Morganton | North Carolina | United States |
|---|---|---|---|
| Median Home Value | $158,400 | $197,500 | $244,900 |
| Median Rent | $726 | $988 | $1,163 |
| Median Income | $43,103 | $60,516 | $69,021 |
| Home Value To Income | 3.7x | 3.3x | 3.5x |
| Rent To Monthly Income | 0.2x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
Morganton, NC Costs By Category
Detailed Morganton Services Costs Vs. North Carolina
| Item | Morganton | North Carolina |
|---|---|---|
| Shampoo | $1.13 | $1.06 |
| Movie | $12.49 | $10.68 |
| Bowling | $15.0 | $14.67 |
| Haircut | $25.0 | $18.62 |
| Beauty Salon | $50.0 | $39.05 |
Detailed Morganton Groceries Costs Vs. North Carolina
| Item | Morganton | North Carolina |
|---|---|---|
| Ground Beef | $4.12 | $4.22 |
| Fried Chicken | $1.19 | $1.39 |
| Milk | $1.79 | $2.05 |
| Potatoes | $3.69 | $3.29 |
| Pizza | $10.49 | $10.62 |
| Beer | $10.16 | $9.38 |
| Toothpaste | $2.69 | $2.34 |
Detailed Morganton Health Costs Vs. North Carolina
| Item | Morganton | North Carolina |
|---|---|---|
| Optometrist | $117.32 | $108.57 |
| Doctor | $116.59 | $116.17 |
| Dentist | $128.33 | $99.13 |
Detailed Morganton Transportation Costs Vs. North Carolina
| Item | Morganton | North Carolina |
|---|---|---|
| Gasoline | $2.19 | $2.22 |
| Tire Balancing | $56.16 | $50.07 |
Detailed Morganton Utilities Costs Vs. North Carolina
| Item | Morganton | North Carolina |
|---|---|---|
| All Electricity | $185.77 | $167.67 |
| Phone | $179.92 | $175.64 |
Morganton SnackAbility
/10
Cost Of Living In Cities Around Morganton
The cost of living varies in the cities and towns around Morganton. Here's a quick look at the cost of living in the most populous nearby places:
Asheville, NC has a cost of living index of 106, 1.1x Morganton.
Hickory, NC has a cost of living index of 97, 1.0x Morganton.
Cornelius, NC has a cost of living index of 113, 1.2x Morganton.
| City | Population | Cost Of Living | Vs. Morganton |
|---|---|---|---|
| Asheville, NC | 93,272 | 106 | 1.1x |
| Hickory, NC | 42,831 | 97 | 1.0x |
| Cornelius, NC | 30,925 | 113 | 1.2x |
| Boone, NC | 18,055 | 104 | 1.1x |
| Mount Holly, NC | 17,315 | 96 | 1.0x |
| Lincolnton, NC | 10,926 | 91 | 1.0x |
| St. Stephens, NC | 9,396 | 88 | 0.9x |
| Lake Norman of Catawba, NC | 8,441 | 112 | 1.2x |
| Conover, NC | 8,393 | 91 | 1.0x |
| Black Mountain, NC | 8,386 | 101 | 1.1x |
