The median home price in North Carolina is $353,300, which has increased by 4.8% since the last year. The North Carolina housing market has witnessed a 10.1% year-over-year growth in the number of homes listed. With a 3-month supply left, you will get your choice of house with the seller being more willing to negotiate.
As per our research, home prices are relatively higher in coastal areas near Wilmington, NC. On the other hand, as you move towards the inland areas of the Tar Heel State, like Greensboro, you can find cheaper housing options.
4 Reasons to live in NC🏖️
- Cheaper Houses: The median home sale price in North Carolina is ~$353K. But you can get houses between $135K and $230K in cities like Eden, Fayetteville, and Burlington.
- Tax Benefits: The standard tax deduction is $12,950 for Single filers, $25,900 for Married Filing Jointly and Surviving Spouses, and $19,400 for the Head of Household.
- Affordable Healthcare: Healthcare in cities that are listed below is up to 5% lower than the state average.
- Cheaper Rentals: The rent prices of these cities are lower than the national average. You can save up to $400 per month in rent.
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Cheapest Places to Live in North Carolina in 2024
This list provides insights into the average household income, median listing price, population, unemployment rate, and poverty rate of the cities.
| City | Median Household Income | Median Home Value | Population | Unemployment Rate | Poverty Rate |
|---|---|---|---|---|---|
| Eden | $43,607 | $135,635 | 15,325 | 5.4% | 22.2% |
| Rocky Mount | $50,092 | $190,780 | 54,013 | 4.9% | 19.6% |
| Fayetteville | $53,424 | $199,299 | 208,873 | 4.5% | 18.7% |
| Thomasville | $48,457 | $214,034 | 27,399 | 3.4% | 20.7% |
| Asheboro | $44,405 | $227,305 | 27,482 | 4.4% | 21.6% |
| Burlington | $52,963 | $228,886 | 59,287 | 3.3% | 18.7% |
| Greenville | $47,485 | $229,059 | 89,233 | 3.9% | 25.2% |
7 Cheapest Places to Live in North Carolina
The annual population growth of 11.7% since 2010 is reflective of people’s intention to move to North Carolina. If you’re considering shifting to the Tar Heel State, here are some cities that offer affordable living options:
1. Eden
| 🟢 Cost of Living Compared to National Average | 16%⬇️ |
| 🏡 Median Home Price | $135,635 |
| 💲 Median Rent | $900 |
| 🌅 Known For | Eden Historical Museum |
Eden is an affordable place to live in North Carolina. Its median house rent ranges from $500 – $3,000. It also offers affordable transportation which is 23.1% lower than the national average.
Eden, a budget-friendly location in North Carolina, is situated in the Greensboro-High Point Metropolitan Statistical Area. It’s an ideal spot for those seeking a peaceful and quiet living environment.
» Homes for Sale in Eden, NC: Find your dream home in this city.
2. Rocky Mount
| 🟢 Cost of Living Compared to National Average | 18%⬇️ |
| 🏡 Median Home Price | $190,780 |
| 💲 Median Rent | $850 |
| 🏞️ Known For | Tobacco |
Rocky Mount is one of the most budget-friendly rental destinations in North Carolina with an average home rent of $850. It also offers affordable healthcare which is 12.6% lower than the national average.
Rocky Mount is a great place for people looking to buy a home. It has good opportunities for businesses, and living here is not expensive. Moreover, it draws a varied community, including healthcare workers, financial experts, and military personnel, attracted by the employment possibilities.
» Homes for Sale in Rocky Mount, NC: Browse thousands of property listings in this city.
3. Fayetteville
| 🟢 Cost of Living Compared to National Average | 8%⬇️ |
| 🏡 Median Home Price | $199,299 |
| 💲 Median Rent | $1,330 |
| 🏖️ Known For | Rich History |
With rental costs below the national average, Fayetteville stands as one of the most affordable cities to live in North Carolina. The house rent price is between $300 – $3,840.
Fayetteville is known for its relatively low cost of living compared to other cities in North Carolina. Home to Fort Bragg Army Base, the city also possesses a booming job market and a well-rounded education system.
» Homes for Sale in Fayetteville, NC: View all the properties for sale in this city.
4. Thomasville
| 🟢 Cost of Living Compared to National Average | 12%⬇️ |
| 🏡 Median Home Price | $214,034 |
| 💲 Median Rent | $975 |
| 🏖️ Known For | Furniture Manufacturing |
Thomasville offers budget-friendly living with a median rent of $975, which is $1,025 lower than the national median. With monthly utilities costs being 7% lower than the state average, the city stands out as one of the most inexpensive places to live in North Carolina.
Thomasville offers a blend of parks, museums, excellent golf courses, and vibrant festival celebrations. The makes the city an ideal place to live with family.
» Homes for Sale in Thomasville, NC: Browse through thousands of affordable properties.
5. Asheboro
| 🟢 Cost of Living Compared to National Average | 15%⬇️ |
| 🏡 Median Home Price | $227,305 |
| 💲 Median Rent | $975 |
| 🎨 Known For | Zoo |
Asheboro’s cost of living is 6.4% lower than the national average. The average transportation are 23.1% lower than the national average.
Asheboro’s affordable food, health, housing, and transportation facilities make the city one of the cheapest places to live in North Carolina.
» Homes for Sale in Asheboro, NC: Browse through thousands of properties in the center point of North Carolina.
6. Burlington
| 🟢 Cost of Living Compared to National Average | 14%⬇️ |
| 🏡 Median Home Price | $228,886 |
| 💲 Median Rent | $1,400 |
| 🏫 Known For | Textile Industry |
The house rent in Burlington is between $700 – $4,600. With an average household income of $52,963, you can comfortably live in this city.
Burlington is a compelling real estate choice for outdoor enthusiasts seeking affordable living in North Carolina. This city is known for being affordable. Houses don’t cost a lot, and the everyday expenses are low.
» Homes for Sale in Burlington, NC: Find a home in one of the cheapest places to live in North Carolina.
7. Greenville
| 🟢 Cost of Living Compared to National Average | 18%⬇️ |
| 🏡 Median Home Price | $229,059 |
| 💲 Median Rent | $1,375 |
| 🖼️ Known For | Manufacturing Industries |
Greenville is one of the best places to live in North Carolina. The median home price in Greenville is $229,059. The monthly expenditure on food for an individual amounts to $495, making it one of the most budget-friendly options across the country.
Greenville offers a variety of attractions, including museums, restaurants, and riverfront parks like Town Common. Notably, River Park North and the East Carolina University campus contribute to the city’s distinctive charm.
» Homes for Sale in Greenville, NC: Get yourself a home in this vibrant city.
- 🏡 Do You Need Professional Assistance While Buying a Home?
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The Bottom Line
The cost of living in North Carolina is 5% lower than the national average. Nevertheless, it is also home to some of the most expensive cities in America. However, if you want to shift to North Carolina, you can find affordable housing in cities like Eden, Rocky Mount, and Fayetteville.
Cities like Burlington and Asheboro have a slightly expensive cost of living but provide better job opportunities. You must research the city’s home prices and living costs before relocating.
Find Homes for Sale in NC Under Your Specific Budget
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With thousands of property listings, Houzeo.com is one of the biggest property listing sites in the US. Find condos, townhouses, co-ops, and other types of homes for sale in North Carolina on Houzeo.
Find Your Dream Home 🏡
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Find Your Dream Home 🏡
View 66,581 Homes For Sale in North Carolina
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» Need More Clarity? Read these exclusive Houzeo reviews and learn why the platform is the best in America’s competitive housing market.
Research Methodology
We’ve created this list by considering factors such as cost of living, median home price, and rental price range. We have also accounted for the population, median household income, poverty rate, and unemployment rate in these cities.
To compile this list of the cheapest areas to live in North Carolina, we have drawn data from the Economic Research Institute, World Population Review, Rent Cafe, and Zillow.
FAQs
What is the cheapest place to live in North Carolina?
The cheapest place to live in North Carolina is Eden.
» 7 Cheapest Places to Live in North Carolina: Find out the other cheapest places to live in North Carolina!
Where is the best place to live in North Carolina?
The best place to live in North Carolina is Asheville, followed by Charlotte, Wilmington, Durham, Raleigh, Chapel Hill, and Winston-Salem.
Is North Carolina the cheapest place to live in?
No, it is not. The median home value is $353,300. If you're looking for cities with affordable housing and a low cost of living, you can try your luck in some of these cheapest places in America.
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