Yahoo Finance 10 Cheapest Cities To Live in North Carolina
With inflation, the cost of living has increased across the country over the past few years. However, there are still affordable places to live. If you compare the cost of living by state, North Carolina ranks as the 24th cheapest state in the United States, meaning it is not the cheapest but not the most expensive.
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There are many affordable cities if you are considering moving to North Carolina or relocating within the state.
10 Cheapest Cities To Live in North Carolina
North Carolina includes a wide variety of cities, from big to small. To find the ten cheapest cities in North Carolina, we looked at data from 2023. We also only included cities with more than 8,000 people. We looked at factors like the cost of living, median rent, home prices, and average property taxes. We also considered the city’s median income to ensure it was affordable.
Based on these factors, here are some of the cheapest cities to live in North Carolina.
1. Eden
Eden is considered North Carolina’s most affordable city. The cost of living is 27.9% cheaper than the national average. Eden is located at the intersection of the Dan and Smith Rivers, so you can enjoy everything that water offers. This includes activities like fishing, hiking, picnics and more.
With a population of 15,317, Eden offers small city perks like affordability, a historic downtown district, and family-friendly amenities. The median income in Eden is $41,746, while the median rent is $649, and the median home price is $219,443.
2. Laurinburg
With a population of 15,242, Laurinburg is a small city located west of Fayetteville. Laurinburg ranks first for lowest median home prices in North Carolina, at just $215,335. The median rent is $674. However, the median income is only $35,776. Thankfully, the cost of living in Laurinburg is 29.9% below the national average, so your money can go further here. Being a university town means Laurinburg has great entertainment with festivals and a vibrant art scene. It’s also located near beaches and the mountains.
3. Lumberton
Lumberton has some of North Carolina’s lowest median rent prices ($665), home prices ($222,575), and property tax rates ($685). The average cost of living is 28.5% below the national average. Lumberton is located in North Carolina’s Inner Banks region, so residents can enjoy fishing, hiking, and more. Plus, Lumberton is located halfway between New York and Florida, offering choices for family road trips. Lumberton has a population of 19,186.
4. Rockingham
Rockingham is the smallest city on this list, with only 9,200 residents. However, Rockingham still has much to offer, like hunting, fishing, a zoo, the Rockingham Dragway, and the Rockingham Golf Club. Rockingham ranks as the most affordable for rent, with the median price at just $552. It also ranks second for cheapest home prices, with a median home price of $215,844.
5. Roanoke Rapids
Roanoke Rapids is located on the banks of the Roanoke River and has a population of 15,294.
Roanoke Rapids has one of the highest median incomes on the list, at $43,704. Plus, with the cost of living still 26.8% lower than the national average, median rent prices of $680, and median home price of $236,579, your money can go pretty far in Roanoke Rapids.
6. Tarboro
Founded in 1760, Tarboro is North Carolina’s oldest town, known for its historic churches and town commons. Tarboro has historically been a lower-income town. However, the median household income has increased 38.6% since 2019 and is now at $41,281, which is on par with the other cities on this list. Median rent and home prices remain affordable, at $681 and $219,943 respectively. The cost of living for Tarboro is 26.8% lower than the national average.
7. Henderson
Henderson is located just 40 minutes outside of Raleigh, making it a good option for those who want to live near a larger city but have the affordability of a smaller community. The cost of living in Henderson is 28.8% lower than the national average. Plus, the city’s proximity to the Blue Ridge Mountains means plenty of opportunities for camping, hiking, and biking. The population of Henderson is 15,084. The median income is only $36,147, but the median home price is $258,822, and the median rent is $668.
8. Mount Airy
Mount Airy is located in North Carolina’s wine country, making it a great city for wine and beer enthusiasts. Main Street in Mount Airy offers a nostalgic atmosphere for an affordable price. The median home price in Mount Airy is $274,796, and the median rent is $594. The cost of living in Mount Airy is 24.9% lower than the national average.
9. Reidsville
Reidsville is an up-and-coming, affordable city. Reidsville has many outdoor activities, art galleries, farmers’ markets, museums, and historic attractions. The population of Reidsville is 14,463, and it is a commutable distance to Greensboro. The median home price in Reidsville is $268,803, and the median rent is $668. The cost of living in Reidsville is 21.9% cheaper than the national average.
10. Asheboro
Asheboro is one of the largest cities on our list, with a population of 26,729. Asheboro also has one of the world’s largest natural habitat zoos and other family-friendly amenities. Plus, Asheboro is near beaches, mountains, and several other popular cities. The cost of living in Asheboro is 21.3% lower than the national average. The median home price is $252,111, and the median rent is $685.
The Bottom Line
There are many affordable cities to choose from in North Carolina. However, there are other factors besides affordability to consider when deciding where to live. If you are looking for a city close to the mountains or beach, has a lot of family-friendly activities, and is at a more affordable price tag, North Carolina has options for you.
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