Morganton, NC Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Morganton, NC Summary

Cost of living in Morganton 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 Morganton 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 Morganton is 95, with 100 being the average.

  • The cost of living index in Morganton is 0.9x lower than the national average.

  • Morganton ranks as the #71 cheapest in North Carolina out of 153.

  • Morganton ranks as the #2,449 cheapest out of 6,412 in the US.

  • The median home value in Morganton is $158,400.

  • The median income in Morganton is $43,103.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
95
Morganton's Overall Cost Of Living
0.9x
Lower Than The National Average

What is the cost of living in Morganton, NC?

According to the most recent data on the cost of living, Morganton has an overall cost of living index of 95, which is 0.9x lower than the national index of 100.

Compared to North Carolina, Morganton has a cost of living index that's 1.0x lower than North Carolina's index of 95.

The standard of living in Morganton ranks as #71 most affordable out of the 153 places we measured in North Carolina. By definition, that implies Morganton ranks as the #82 most expensive place in the Tar Heel State.

For more reading on life in Morganton, check out:

71 out of 153
In North Carolina
2,449 out of 6,412
In America

Morganton Cost Of Living Vs. North Carolina

Six factors go into calculating the cost of living index in Morganton. Here is how it fairs on each of the criteria:

  • The Services index in Morganton is 98.

  • The Groceries index in Morganton is 99.

  • The Health index in Morganton is 116.

  • The Housing index in Morganton is 72.

  • The Transportation index in Morganton is 102.

  • The Utilities index in Morganton is 107.

Living Expense Morganton North Carolina National Average
Overall 95 95 100
Services 98 97 100
Groceries 99 98 100
Health 116 108 100
Housing 72 91 100
Transportation 102 92 100
Utilities 107 95 100
For more reading on cost of living around North Carolina, check out:
Morganton Cost of Living Vs. NC

Morganton, 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 2017-2021. The key points are:

  • The Median Home Value in Morganton is $158,400.

  • The Median Rent in Morganton is $726.

  • The Median Income in Morganton is $43,103.

  • The Home Value To Income in Morganton is 3.7x.

  • The Rent To Monthly Income in Morganton is 0.2x.

Statistic Morganton North Carolina United States
Median Home Value $158,400 $197,500 $244,900
Median Rent $726 $988 $1,163
Median Income $43,103 $60,516 $69,021
Home Value To Income 3.7x 3.3x 3.5x
Rent To Monthly Income 0.2x 0.2x 0.2x
Search Homes For Sale In Morganton, NC
$158,400
Median Home Value
$726
Median Rent
$43,103
Median Income

Morganton, NC Costs By Category

Detailed Morganton Services Costs Vs. North Carolina

Item Morganton North Carolina
Shampoo $1.13 $1.06
Movie $12.49 $10.68
Bowling $15.0 $14.67
Haircut $25.0 $18.62
Beauty Salon $50.0 $39.05

Detailed Morganton Groceries Costs Vs. North Carolina

Item Morganton North Carolina
Ground Beef $4.12 $4.22
Fried Chicken $1.19 $1.39
Milk $1.79 $2.05
Potatoes $3.69 $3.29
Pizza $10.49 $10.62
Beer $10.16 $9.38
Toothpaste $2.69 $2.34

Detailed Morganton Health Costs Vs. North Carolina

Item Morganton North Carolina
Optometrist $117.32 $108.57
Doctor $116.59 $116.17
Dentist $128.33 $99.13

Detailed Morganton Transportation Costs Vs. North Carolina

Item Morganton North Carolina
Gasoline $2.19 $2.22
Tire Balancing $56.16 $50.07

Detailed Morganton Utilities Costs Vs. North Carolina

Item Morganton North Carolina
All Electricity $185.77 $167.67
Phone $179.92 $175.64

Morganton SnackAbility

6
/10
Overall SnackAbility
Jobs
6/10
Housing
6
Affordability
6
Diversity
9
Safety
N/A
Amenities
8
Education
5
Commute
8.5

Cost Of Living In Cities Around Morganton

The cost of living varies in the cities and towns around Morganton. Here's a quick look at the cost of living in the most populous nearby places:

  • Asheville, NC has a cost of living index of 106, 1.1x Morganton.

  • Hickory, NC has a cost of living index of 97, 1.0x Morganton.

  • Cornelius, NC has a cost of living index of 113, 1.2x Morganton.

City Population Cost Of Living Vs. Morganton
Asheville, NC 93,272 106 1.1x
Hickory, NC 42,831 97 1.0x
Cornelius, NC 30,925 113 1.2x
Boone, NC 18,055 104 1.1x
Mount Holly, NC 17,315 96 1.0x
Lincolnton, NC 10,926 91 1.0x
St. Stephens, NC 9,396 88 0.9x
Lake Norman of Catawba, NC 8,441 112 1.2x
Conover, NC 8,393 91 1.0x
Black Mountain, NC 8,386 101 1.1x

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