You’re going to need a little more than some pocket change and luck to afford to live in one of the Tar Heel state’s most expensive places. For many, you’re going to need a miracle and a job that pays at least $85,940/year. Unfortunately, HomeSnacks can’t help with a miracle, but we did help by creating a list of the top ten most expensive places in North Carolina for 2024 and the list is below.
Incidentally, if you don’t currently have a booming bank account, don’t worry. Places that made our top ten list like Wilmington and Asheville might be some of the most expensive places to buy a home, but the least expensive to rent.
Yes, in order to determine the most expensive places in North Carolina, we looked at the American Community Survey for the home price to income ratio and the rent to income ratio for North Carolina places with at least 5,000 residents. This gave us 134 North Carolina places that you’re going to need to win a hefty Powerball to live comfortably.
Did we mention that this is our tenth time ranking North Carolina’s most expensive places? That’s right, we know what we’re talking about. So, it would be in your best interest to take a look at our list below before you make any major financial decisions.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Most Expensive Places To Live In North Carolina For 2024
What’s the most expensive place to live in North Carolina? Well, HomeSnacks crunched the numbers and discovered that Marvin is the most expensive place to live in North Carolina.
Eden (the cheapest place to live in North Carolina) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about North Carolina and the most expensive cities in the country:
The 10 Most Expensive Places To Live In North Carolina For 2024
/10
Population: 6,421
Cost Of Living Index: 171
Median Income: $238,875
Average Home Price: $1,073,504
Home Price To Income Ratio: 4.5x
More on Marvin: Data | Cost Of Living | Real Estate
The overall cost of living in Marvin is 171. The median income in Marvin comes in at $238,875 and the average home value is $1,073,504 for 2024.
/10
Population: 13,173
Cost Of Living Index: 142
Median Income: $171,810
Average Home Price: $936,823
Home Price To Income Ratio: 5.5x
More on Weddington: Data | Cost Of Living | Real Estate
The overall cost of living in Weddington is 142. The median income in Weddington comes in at $171,810 and the average home value is $936,823 for 2024.
/10
Population: 6,566
Cost Of Living Index: 134
Median Income: $113,507
Average Home Price: $705,540
Home Price To Income Ratio: 6.2x
More on St. James: Data | Cost Of Living | Real Estate
The overall cost of living in St. James is 134. The median income in St. James comes in at $113,507 and the average home value is $705,540 for 2024.
/10
Population: 15,199
Cost Of Living Index: 127
Median Income: $140,938
Average Home Price: $624,402
Home Price To Income Ratio: 4.4x
More on Davidson: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Davidson is 127. The median income in Davidson comes in at $140,938 and the average home value is $624,402 for 2024.
/10
Population: 58,919
Cost Of Living Index: 119
Median Income: $85,940
Average Home Price: $603,034
Home Price To Income Ratio: 7.0x
More on Chapel Hill: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Chapel Hill is 119. The median income in Chapel Hill comes in at $85,940 and the average home value is $603,034 for 2024.
/10
Population: 10,986
Cost Of Living Index: 119
Median Income: $148,182
Average Home Price: $467,749
Home Price To Income Ratio: 3.2x
More on Summerfield: Data | Cost Of Living | Real Estate
The overall cost of living in Summerfield is 119. The median income in Summerfield comes in at $148,182 and the average home value is $467,749 for 2024.
/10
Population: 8,763
Cost Of Living Index: 118
Median Income: $133,333
Average Home Price: $595,551
Home Price To Income Ratio: 4.5x
More on Wesley Chapel: Data | Cost Of Living | Real Estate
The overall cost of living in Wesley Chapel is 118. The median income in Wesley Chapel comes in at $133,333 and the average home value is $595,551 for 2024.
/10
Population: 7,637
Cost Of Living Index: 117
Median Income: $146,131
Average Home Price: $514,942
Home Price To Income Ratio: 3.5x
More on Oak Ridge: Data | Cost Of Living | Real Estate
The overall cost of living in Oak Ridge is 117. The median income in Oak Ridge comes in at $146,131 and the average home value is $514,942 for 2024.
/10
Population: 29,756
Cost Of Living Index: 114
Median Income: $114,075
Average Home Price: $486,190
Home Price To Income Ratio: 4.3x
More on Morrisville: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Morrisville is 114. The median income in Morrisville comes in at $114,075 and the average home value is $486,190 for 2024.
/10
Population: 18,934
Cost Of Living Index: 114
Median Income: $134,767
Average Home Price: $477,928
Home Price To Income Ratio: 3.5x
More on Harrisburg: Data | Cost Of Living | Real Estate
The overall cost of living in Harrisburg is 114. The median income in Harrisburg comes in at $134,767 and the average home value is $477,928 for 2024.
Methodology: How We Determined The Most Expensive Places To Live In The Tar Heel State For 2024
The two most important things to think about when it comes to being able to afford a city in North Carolina are:
- How much money do I make?
- How much do I have to spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing, it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2018-2022 around incomes and costs. They are:
- Overall Cost Of Living Index
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
You can then compare these metrics in each of the places in North Carolina to figure out which is the most expensive.
You are left with a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index to rank all of the 134 places in North Carolina that have more than 5,000 people.
The place with the highest cost of living in North Carolina according to the data is Marvin. We updated this article for 2024. This article is our tenth time ranking the most expensive places to live in North Carolina.
Summary: Taking A Chunk Out Of Your Paycheck In North Carolina For 2024
Well, there you have it, the places in North Carolina that have the highest cost of living, with Marvin ranking as the most expensive city in the Tar Heel State.
The most expensive cities in North Carolina are Marvin, Weddington, St. James, Davidson, Chapel Hill, Summerfield, Wesley Chapel, Oak Ridge, Morrisville, and Harrisburg.
Here’s a look at the most affordable cities in North Carolina according to the data:
- Eden
- Reidsville
- Asheboro
For more North Carolina reading, check out:
- Best Places To Live In North Carolina
- Cheapest Places To Live In North Carolina
- Most Dangerous Cities In North Carolina
- Best Places To Raise A Family In North Carolina
- Safest Cities in North Carolina
- Worst Places To Live In North Carolina
Most Expensive Cities In North Carolina
| Rank | City | Cost Of Living | Population | Median Income | Average Home Price | Home/Income Ratio |
|---|---|---|---|---|---|---|
| 1 | Marvin | 171 | 6,421 | $238,875 | $1,073,504 | 4.5x |
| 2 | Weddington | 142 | 13,173 | $171,810 | $936,823 | 5.5x |
| 3 | St. James | 134 | 6,566 | $113,507 | $705,540 | 6.2x |
| 4 | Davidson | 127 | 15,199 | $140,938 | $624,402 | 4.4x |
| 5 | Chapel Hill | 119 | 58,919 | $85,940 | $603,034 | 7.0x |
| 6 | Summerfield | 119 | 10,986 | $148,182 | $467,749 | 3.2x |
| 7 | Wesley Chapel | 118 | 8,763 | $133,333 | $595,551 | 4.5x |
| 8 | Oak Ridge | 117 | 7,637 | $146,131 | $514,942 | 3.5x |
| 9 | Morrisville | 114 | 29,756 | $114,075 | $486,190 | 4.3x |
| 10 | Harrisburg | 114 | 18,934 | $134,767 | $477,928 | 3.5x |
| 11 | Cary | 113 | 174,880 | $125,317 | $600,101 | 4.8x |
| 12 | Cornelius | 112 | 31,396 | $107,969 | $501,024 | 4.6x |
| 13 | Waxhaw | 112 | 20,665 | $124,711 | $561,159 | 4.5x |
| 14 | Pinehurst | 112 | 17,653 | $102,917 | $487,605 | 4.7x |
| 15 | Huntersville | 111 | 61,202 | $112,893 | $517,476 | 4.6x |
| 16 | Carrboro | 111 | 21,242 | $76,933 | $438,237 | 5.7x |
| 17 | Carolina Beach | 111 | 6,583 | $87,159 | $582,789 | 6.7x |
| 18 | Stallings | 110 | 16,193 | $99,451 | $433,914 | 4.4x |
| 19 | Apex | 108 | 65,541 | $129,688 | $591,542 | 4.6x |
| 20 | Holly Springs | 108 | 42,023 | $127,755 | $550,787 | 4.3x |
| 21 | Matthews | 107 | 29,613 | $103,405 | $468,340 | 4.5x |
| 22 | Boone | 107 | 19,368 | $28,242 | $458,456 | 16.2x |
| 23 | Oak Island | 107 | 8,564 | $85,513 | $536,118 | 6.3x |
| 24 | Wake Forest | 106 | 48,047 | $115,159 | $513,842 | 4.5x |
| 25 | Kill Devil Hills | 106 | 7,658 | $73,036 | $490,281 | 6.7x |
| 26 | Mint Hill | 105 | 26,537 | $92,102 | $471,547 | 5.1x |
| 27 | Southern Pines | 105 | 15,701 | $81,867 | $460,376 | 5.6x |
| 28 | Asheville | 103 | 93,695 | $63,810 | $451,444 | 7.1x |
| 29 | Rolesville | 103 | 9,696 | $145,166 | $497,136 | 3.4x |
| 30 | Fletcher | 103 | 8,000 | $74,483 | $435,289 | 5.8x |
| 31 | Raleigh | 102 | 465,517 | $78,631 | $431,992 | 5.5x |
| 32 | Wilmington | 102 | 116,933 | $58,908 | $390,034 | 6.6x |
| 33 | Indian Trail | 102 | 40,325 | $95,101 | $408,207 | 4.3x |
| 34 | Leland | 102 | 24,473 | $82,651 | $383,768 | 4.6x |
| 35 | Elon | 102 | 11,161 | $73,597 | $322,868 | 4.4x |
| 36 | Mooresville | 101 | 50,025 | $82,622 | $468,555 | 5.7x |
| 37 | Fuquay-Varina | 101 | 35,428 | $94,142 | $496,644 | 5.3x |
| 38 | Lewisville | 101 | 13,509 | $86,641 | $358,604 | 4.1x |
| 39 | Mills River | 101 | 7,100 | $79,802 | $503,109 | 6.3x |
| 40 | Stokesdale | 101 | 5,900 | $118,159 | $349,634 | 3.0x |
| 41 | Clemmons | 100 | 21,281 | $75,667 | $353,229 | 4.7x |
| 42 | Pineville | 100 | 10,532 | $55,450 | $390,836 | 7.0x |
| 43 | Unionville | 100 | 6,694 | $90,904 | $400,244 | 4.4x |
| 44 | Morehead City | 99 | 9,632 | $51,716 | $382,949 | 7.4x |
| 45 | Brevard | 99 | 7,777 | $42,843 | $431,629 | 10.1x |
| 46 | Charlotte | 98 | 875,045 | $74,070 | $387,529 | 5.2x |
| 47 | Durham | 98 | 284,094 | $74,710 | $395,610 | 5.3x |
| 48 | Concord | 98 | 105,335 | $83,480 | $361,879 | 4.3x |
| 49 | Knightdale | 98 | 19,127 | $79,364 | $363,028 | 4.6x |
| 50 | Mount Holly | 98 | 17,644 | $73,923 | $341,383 | 4.6x |
| 51 | Black Mountain | 98 | 8,430 | $75,310 | $450,375 | 6.0x |
| 52 | Cramerton | 98 | 5,294 | $89,313 | $282,370 | 3.2x |
| 53 | Hickory | 97 | 43,352 | $58,251 | $277,464 | 4.8x |
| 54 | Monroe | 97 | 34,897 | $63,982 | $320,941 | 5.0x |
| 55 | Hillsborough | 97 | 9,534 | $86,250 | $440,106 | 5.1x |
| 56 | Gastonia | 96 | 80,615 | $58,047 | $275,514 | 4.7x |
| 57 | Clayton | 96 | 26,837 | $71,698 | $366,122 | 5.1x |
| 58 | King | 96 | 7,210 | $59,770 | $249,231 | 4.2x |
| 59 | Winston-Salem | 95 | 249,571 | $54,416 | $241,673 | 4.4x |
| 60 | Kernersville | 95 | 27,177 | $66,151 | $302,017 | 4.6x |
| 61 | Hendersonville | 95 | 15,102 | $50,198 | $395,150 | 7.9x |
| 62 | Waynesville | 95 | 10,307 | $44,920 | $355,984 | 7.9x |
| 63 | New Bern | 94 | 31,373 | $55,673 | $262,377 | 4.7x |
| 64 | Mebane | 94 | 17,899 | $78,419 | $339,769 | 4.3x |
| 65 | Belmont | 94 | 14,842 | $84,274 | $403,471 | 4.8x |
| 66 | Aberdeen | 94 | 8,674 | $69,758 | $315,702 | 4.5x |
| 67 | Garner | 93 | 31,684 | $77,171 | $374,654 | 4.9x |
| 68 | Elizabeth City | 93 | 18,570 | $50,155 | $228,656 | 4.6x |
| 69 | Lincolnton | 93 | 11,225 | $41,614 | $273,540 | 6.6x |
| 70 | Woodfin | 93 | 7,901 | $59,144 | $400,598 | 6.8x |
| 71 | Boiling Spring Lakes | 93 | 6,032 | $57,969 | $309,998 | 5.3x |
| 72 | Greenville | 92 | 87,894 | $47,485 | $229,462 | 4.8x |
| 73 | Kannapolis | 92 | 53,314 | $66,487 | $259,607 | 3.9x |
| 74 | Salisbury | 92 | 35,437 | $48,888 | $259,125 | 5.3x |
| 75 | Morganton | 92 | 17,457 | $47,715 | $233,341 | 4.9x |
| 76 | Kings Mountain | 92 | 11,246 | $45,301 | $218,463 | 4.8x |
| 77 | Butner | 92 | 8,374 | $68,604 | $258,713 | 3.8x |
| 78 | Zebulon | 92 | 7,421 | $50,934 | $341,201 | 6.7x |
| 79 | Mocksville | 92 | 5,908 | $46,553 | $254,179 | 5.5x |
| 80 | Dallas | 92 | 5,889 | $55,979 | $255,650 | 4.6x |
| 81 | Angier | 92 | 5,348 | $54,936 | $318,115 | 5.8x |
| 82 | Greensboro | 91 | 297,202 | $55,051 | $248,523 | 4.5x |
| 83 | Fayetteville | 91 | 208,697 | $53,424 | $198,110 | 3.7x |
| 84 | Jacksonville | 91 | 71,908 | $50,185 | $233,373 | 4.7x |
| 85 | Havelock | 91 | 16,759 | $56,492 | $214,348 | 3.8x |
| 86 | Newton | 91 | 13,173 | $57,918 | $237,137 | 4.1x |
| 87 | Winterville | 91 | 10,510 | $82,969 | $271,791 | 3.3x |
| 88 | Washington | 91 | 9,759 | $42,821 | $222,313 | 5.2x |
| 89 | Gibsonville | 91 | 8,827 | $98,558 | $278,388 | 2.8x |
| 90 | Conover | 91 | 8,457 | $49,978 | $254,865 | 5.1x |
| 91 | Bessemer City | 91 | 5,472 | $44,440 | $218,355 | 4.9x |
| 92 | High Point | 90 | 114,120 | $58,582 | $229,659 | 3.9x |
| 93 | Goldsboro | 90 | 33,566 | $44,196 | $185,899 | 4.2x |
| 94 | Mount Airy | 90 | 10,621 | $34,089 | $196,528 | 5.8x |
| 95 | Oxford | 90 | 8,685 | $42,016 | $232,049 | 5.5x |
| 96 | Wadesboro | 90 | 5,004 | $32,022 | $102,065 | 3.2x |
| 97 | Wilson | 89 | 47,767 | $46,891 | $200,278 | 4.3x |
| 98 | Statesville | 89 | 28,576 | $51,784 | $276,418 | 5.3x |
| 99 | Albemarle | 89 | 16,444 | $51,673 | $230,975 | 4.5x |
| 100 | Smithfield | 89 | 11,527 | $37,000 | $283,417 | 7.7x |
