Hope Mills, NC Cost Of Living
Cost Of Living In Hope Mills, NC Summary
Cost of living in Hope Mills 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 Hope Mills 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 Hope Mills is 94, with 100 being the average.
The cost of living index in Hope Mills is 0.9x lower than the national average.
Hope Mills ranks as the #61 cheapest in North Carolina out of 157.
Hope Mills ranks as the #1,806 cheapest out of 6,489 in the US.
The median home value in Hope Mills is $252,828.
The median income in Hope Mills is $60,671.
Table Of Contents
Hope Mills's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Hope Mills, NC?
According to the most recent data on the cost of living, Hope Mills has an overall cost of living index of 94, which is 0.9x lower than the national index of 100.
Compared to North Carolina, Hope Mills has a cost of living index that's 1.0x higher than North Carolina's index of 92.
The standard of living in Hope Mills ranks as #61 most affordable out of the 157 places we measured in North Carolina. By definition, that implies Hope Mills ranks as the #96 most expensive place in the Tar Heel State.
For more reading on life in Hope Mills, check out:
In North Carolina
In America
Hope Mills Cost Of Living Vs. North Carolina
Six factors go into calculating the cost of living index in Hope Mills. Here is how it fairs on each of the criteria:
The Services index in Hope Mills is 100.
The Groceries index in Hope Mills is 100.
The Health index in Hope Mills is 111.
The Housing index in Hope Mills is 83.
The Transportation index in Hope Mills is 93.
The Utilities index in Hope Mills is 100.
| Living Expense | Hope Mills | North Carolina | National Average | |
|---|---|---|---|---|
| Overall | 94 | 92 | 100 | |
| Services | 100 | 100 | 100 | |
| Groceries | 100 | 99 | 100 | |
| Health | 111 | 106 | 100 | |
| Housing | 83 | 86 | 100 | |
| Transportation | 93 | 93 | 100 | |
| Utilities | 100 | 95 | 100 | |
Hope Mills, NC Housing Cost Breakdown
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 2019-2023. The key points are:
The Median Home Value in Hope Mills is $252,828.
The Median Rent in Hope Mills is $1,097.
The Median Income in Hope Mills is $60,671.
The Home Value To Income in Hope Mills is 4.2x.
The Rent To Monthly Income in Hope Mills is 0.22x.
| Statistic | Hope Mills | North Carolina | United States |
|---|---|---|---|
| Median Home Value | $252,828 | $332,681 | $303,400 |
| Median Rent | $1,097 | $1,162 | $1,348 |
| Median Income | $60,671 | $69,904 | $78,538 |
| Home Value To Income | 4.2x | 4.8x | 3.9x |
| Rent To Monthly Income | 0.22x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Hope Mills, NC Costs By Category
Detailed Hope Mills Services Costs Vs. North Carolina
| Item | Hope Mills | North Carolina |
|---|---|---|
| Shampoo | $1.09 | $1.28 |
| Movie | $10.27 | $12.13 |
| Bowling | $11.0 | $18 |
| Haircut | $19.0 | $24.26 |
| Beauty Salon | $29.58 | $45.56 |
Detailed Hope Mills Groceries Costs Vs. North Carolina
| Item | Hope Mills | North Carolina |
|---|---|---|
| Ground Beef | $5.93 | $5.84 |
| Fried Chicken | $1.59 | $1.57 |
| Milk | $4.57 | $4.67 |
| Potatoes | $5.18 | $4.93 |
| Pizza | $10.47 | $12.09 |
| Beer | $10.29 | $10.41 |
| Toothpaste | $3.65 | $3.7 |
Detailed Hope Mills Health Costs Vs. North Carolina
| Item | Hope Mills | North Carolina |
|---|---|---|
| Optometrist | $141.56 | $125.68 |
| Doctor | $136.38 | $135.78 |
| Dentist | $100.17 | $113.29 |
Detailed Hope Mills Transportation Costs Vs. North Carolina
| Item | Hope Mills | North Carolina |
|---|---|---|
| Gasoline | $3.45 | $3.46 |
| Tire Balancing | $63.55 | $59.92 |
Detailed Hope Mills Utilities Costs Vs. North Carolina
| Item | Hope Mills | North Carolina |
|---|---|---|
| All Electricity | $201.14 | $193.99 |
| Phone | $187.32 | $192.25 |
Hope Mills SnackAbility
/10
Cost Of Living In Cities Around Hope Mills
The cost of living varies in the cities and towns around Hope Mills. Here's a quick look at the cost of living in the most populous nearby places:
Fayetteville, NC has a cost of living index of 91, 1.0x Hope Mills.
Holly Springs, NC has a cost of living index of 125, 1.3x Hope Mills.
Fuquay-Varina, NC has a cost of living index of 114, 1.2x Hope Mills.
| City | Population | Cost Of Living | Vs. Hope Mills |
|---|---|---|---|
| Fayetteville, NC | 209,692 | 91 | 1.0x |
| Holly Springs, NC | 43,429 | 125 | 1.3x |
| Fuquay-Varina, NC | 37,749 | 114 | 1.2x |
| Sanford, NC | 30,833 | 92 | 1.0x |
| Pinehurst, NC | 17,992 | 120 | 1.3x |
| Southern Pines, NC | 16,052 | 112 | 1.2x |
| Laurinburg, NC | 15,079 | 86 | 0.9x |
| Aberdeen, NC | 8,969 | 99 | 1.1x |
| Clinton, NC | 8,336 | 92 | 1.0x |
