Cost of living in Elon 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 Elon 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 Elon is 104, with 100 being the average.
The cost of living index in Elon is 1.0x higher than the national average.
Elon ranks as the #115 cheapest in North Carolina out of 153.
Elon ranks as the #3,585 cheapest out of 6,412 in the US.
The median home value in Elon is $304,800.
The median income in Elon is $68,031.
According to the most recent data on the cost of living, Elon has an overall cost of living index of 104, which is 1.0x higher than the national index of 100.
Compared to North Carolina, Elon has a cost of living index that's 1.1x higher than North Carolina's index of 95.
The standard of living in Elon ranks as #115 most affordable out of the 153 places we measured in North Carolina. By definition, that implies Elon ranks as the #38 most expensive place in the Tar Heel State.
For more reading on life in Elon, check out:
Six factors go into calculating the cost of living index in Elon. Here is how it fairs on each of the criteria:
The Services index in Elon is 93.
The Groceries index in Elon is 101.
The Health index in Elon is 114.
The Housing index in Elon is 124.
The Transportation index in Elon is 96.
The Utilities index in Elon is 96.
|Living Expense||Elon||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 Elon is $304,800.
The Median Rent in Elon is $1,458.
The Median Income in Elon is $68,031.
The Home Value To Income in Elon is 4.5x.
The Rent To Monthly Income in Elon is 0.26x.
|Statistic||Elon||North Carolina||United States|
|Median Home Value||$304,800||$197,500||$244,900|
|Home Value To Income||4.5x||3.3x||3.5x|
|Rent To Monthly Income||0.26x||0.2x||0.2x|
The cost of living varies in the cities and towns around Elon. Here's a quick look at the cost of living in the most populous nearby places:
Greensboro, NC has a cost of living index of 92, 0.9x Elon.
Burlington, NC has a cost of living index of 90, 0.9x Elon.
Mebane, NC has a cost of living index of 95, 0.9x Elon.