Cost of living in Belmont 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 Belmont 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 Belmont is 98, with 100 being the average.
The cost of living index in Belmont is 1.0x lower than the national average.
Belmont ranks as the #92 cheapest in North Carolina out of 153.
Belmont ranks as the #2,890 cheapest out of 6,412 in the US.
The median home value in Belmont is $262,200.
The median income in Belmont is $76,156.
According to the most recent data on the cost of living, Belmont has an overall cost of living index of 98, which is 1.0x lower than the national index of 100.
Compared to North Carolina, Belmont has a cost of living index that's 1.0x higher than North Carolina's index of 95.
The standard of living in Belmont ranks as #92 most affordable out of the 153 places we measured in North Carolina. By definition, that implies Belmont ranks as the #61 most expensive place in the Tar Heel State.
For more reading on life in Belmont, check out:
Six factors go into calculating the cost of living index in Belmont. Here is how it fairs on each of the criteria:
The Services index in Belmont is 105.
The Groceries index in Belmont is 105.
The Health index in Belmont is 103.
The Housing index in Belmont is 85.
The Transportation index in Belmont is 104.
The Utilities index in Belmont is 97.
|Living Expense||Belmont||North Carolina||National Average|
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 Belmont is $262,200.
The Median Rent in Belmont is $1,020.
The Median Income in Belmont is $76,156.
The Home Value To Income in Belmont is 3.4x.
The Rent To Monthly Income in Belmont is 0.16x.
|Statistic||Belmont||North Carolina||United States|
|Median Home Value||$262,200||$197,500||$244,900|
|Home Value To Income||3.4x||3.3x||3.5x|
|Rent To Monthly Income||0.16x||0.2x||0.2x|
The cost of living varies in the cities and towns around Belmont. Here's a quick look at the cost of living in the most populous nearby places:
Charlotte, NC has a cost of living index of 103, 1.1x Belmont.
Gastonia, NC has a cost of living index of 97, 1.0x Belmont.
Rock Hill, SC has a cost of living index of 96, 1.0x Belmont.
|City||Population||Cost Of Living||Vs. Belmont|
|Rock Hill, SC||72,883||96||1.0x|
|Fort Mill, SC||24,069||104||1.1x|
|Mount Holly, NC||17,315||96||1.0x|
|Lake Wylie, SC||13,560||117||1.2x|
|Tega Cay, SC||12,336||117||1.2x|
|Kings Mountain, NC||10,775||92||0.9x|