Cost of living in Hillsborough 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 Hillsborough 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 Hillsborough is 95, with 100 being the average.
The cost of living index in Hillsborough is 0.9x lower than the national average.
Hillsborough ranks as the #71 cheapest in North Carolina out of 153.
Hillsborough ranks as the #2,449 cheapest out of 6,412 in the US.
The median home value in Hillsborough is $321,000.
The median income in Hillsborough is $77,114.
According to the most recent data on the cost of living, Hillsborough has an overall cost of living index of 95, which is 0.9x lower than the national index of 100.
Compared to North Carolina, Hillsborough has a cost of living index that's 1.0x lower than North Carolina's index of 95.
The standard of living in Hillsborough ranks as #71 most affordable out of the 153 places we measured in North Carolina. By definition, that implies Hillsborough ranks as the #82 most expensive place in the Tar Heel State.
For more reading on life in Hillsborough, check out:
Six factors go into calculating the cost of living index in Hillsborough. Here is how it fairs on each of the criteria:
The Services index in Hillsborough is 91.
The Groceries index in Hillsborough is 94.
The Health index in Hillsborough is 97.
The Housing index in Hillsborough is 103.
The Transportation index in Hillsborough is 95.
The Utilities index in Hillsborough is 92.
|Living Expense||Hillsborough||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 Hillsborough is $321,000.
The Median Rent in Hillsborough is $1,025.
The Median Income in Hillsborough is $77,114.
The Home Value To Income in Hillsborough is 4.2x.
The Rent To Monthly Income in Hillsborough is 0.16x.
|Statistic||Hillsborough||North Carolina||United States|
|Median Home Value||$321,000||$197,500||$244,900|
|Home Value To Income||4.2x||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 Hillsborough. Here's a quick look at the cost of living in the most populous nearby places:
Durham, NC has a cost of living index of 94, 1.0x Hillsborough.
Chapel Hill, NC has a cost of living index of 118, 1.2x Hillsborough.
Carrboro, NC has a cost of living index of 111, 1.2x Hillsborough.