Silver Lake, NC Cost Of Living
Cost Of Living In Silver Lake, NC Summary
Cost of living in Silver Lake 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 Silver Lake 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 Silver Lake is 99, with 100 being the average.
The cost of living index in Silver Lake is 1.0x lower than the national average.
Silver Lake ranks as the #80 cheapest in North Carolina out of 157.
Silver Lake ranks as the #2,497 cheapest out of 6,489 in the US.
The median home value in Silver Lake is $368,719.
The median income in Silver Lake is $73,277.
Table Of Contents
Silver Lake's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Silver Lake, NC?
According to the most recent data on the cost of living, Silver Lake has an overall cost of living index of 99, which is 1.0x lower than the national index of 100.
Compared to North Carolina, Silver Lake has a cost of living index that's 1.1x higher than North Carolina's index of 92.
The standard of living in Silver Lake ranks as #80 most affordable out of the 157 places we measured in North Carolina. By definition, that implies Silver Lake ranks as the #77 most expensive place in the Tar Heel State.
For more reading on life in Silver Lake, check out:
In North Carolina
In America
Silver Lake Cost Of Living Vs. North Carolina
Six factors go into calculating the cost of living index in Silver Lake. Here is how it fairs on each of the criteria:
The Services index in Silver Lake is 98.
The Groceries index in Silver Lake is 98.
The Health index in Silver Lake is 112.
The Housing index in Silver Lake is 98.
The Transportation index in Silver Lake is 95.
The Utilities index in Silver Lake is 97.
| Living Expense | Silver Lake | North Carolina | National Average | |
|---|---|---|---|---|
| Overall | 99 | 92 | 100 | |
| Services | 98 | 100 | 100 | |
| Groceries | 98 | 99 | 100 | |
| Health | 112 | 106 | 100 | |
| Housing | 98 | 86 | 100 | |
| Transportation | 95 | 93 | 100 | |
| Utilities | 97 | 95 | 100 | |
Silver Lake, 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 Silver Lake is $368,719.
The Median Rent in Silver Lake is $1,289.
The Median Income in Silver Lake is $73,277.
The Home Value To Income in Silver Lake is 5.0x.
The Rent To Monthly Income in Silver Lake is 0.21x.
| Statistic | Silver Lake | North Carolina | United States |
|---|---|---|---|
| Median Home Value | $368,719 | $332,681 | $303,400 |
| Median Rent | $1,289 | $1,162 | $1,348 |
| Median Income | $73,277 | $69,904 | $78,538 |
| Home Value To Income | 5.0x | 4.8x | 3.9x |
| Rent To Monthly Income | 0.21x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Silver Lake, NC Costs By Category
Detailed Silver Lake Services Costs Vs. North Carolina
| Item | Silver Lake | 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 Silver Lake Groceries Costs Vs. North Carolina
| Item | Silver Lake | 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 Silver Lake Health Costs Vs. North Carolina
| Item | Silver Lake | North Carolina |
|---|---|---|
| Optometrist | $141.56 | $125.68 |
| Doctor | $136.38 | $135.78 |
| Dentist | $100.17 | $113.29 |
Detailed Silver Lake Transportation Costs Vs. North Carolina
| Item | Silver Lake | North Carolina |
|---|---|---|
| Gasoline | $3.45 | $3.46 |
| Tire Balancing | $63.55 | $59.92 |
Detailed Silver Lake Utilities Costs Vs. North Carolina
| Item | Silver Lake | North Carolina |
|---|---|---|
| All Electricity | $201.14 | $193.99 |
| Phone | $187.32 | $192.25 |
Silver Lake SnackAbility
/10
Cost Of Living In Cities Around Silver Lake
The cost of living varies in the cities and towns around Silver Lake. Here's a quick look at the cost of living in the most populous nearby places:
Wilmington, NC has a cost of living index of 110, 1.1x Silver Lake.
Leland, NC has a cost of living index of 111, 1.1x Silver Lake.
Murraysville, NC has a cost of living index of 104, 1.1x Silver Lake.
| City | Population | Cost Of Living | Vs. Silver Lake |
|---|---|---|---|
| Wilmington, NC | 118,578 | 110 | 1.1x |
| Leland, NC | 26,307 | 111 | 1.1x |
| Murraysville, NC | 17,307 | 104 | 1.1x |
| Myrtle Grove, NC | 12,404 | 115 | 1.2x |
| Kings Grant, NC | 9,061 | 101 | 1.0x |
| Ogden, NC | 8,363 | 120 | 1.2x |
| Porters Neck, NC | 7,102 | 126 | 1.3x |
| Carolina Beach, NC | 6,665 | 122 | 1.2x |
| Boiling Spring Lakes, NC | 6,206 | 101 | 1.0x |
