15 Cheapest Places To Live in North Carolina [2023 Data]

When it comes to finding your next home in North Carolina, you shouldn’t have to sacrifice a natural view, safe community, bustling social scene, or charming city center in favor of affordability. Whether you’re a first-time home buyer or a recent empty nester, one of the cheapest places to live in North Carolina may have everything you’re looking for and so much more. 

If you’re set on an exciting new city that’ll give you the best bang for your buck, you have to check out these top 15 most affordable cities the Old North State has to offer. 

1. Eden

• Population: 15,317

• Median income: $41,746

• Median rent: $649

• Median home price: $219,443

Eden, a quaint little city located where the Dan and Smith Rivers meet, tops the chart as the cheapest place to live in North Carolina. Home to an energetic historical downtown district, ample hiking trails, grade A fishing holes, and impressive family-friendly parks, Eden exudes small town charm with just the right amount of adventure. 

But perhaps Eden’s real draw is its affordability — the cost of living is 27.9% cheaper than the national average, making it the perfect place to comfortably raise a family or take some time getting lost in the great outdoors. You could spend a day exploring the nature trails and settling in for a casual picnic at Freedom Park, followed by a pit stop at Reynolds Brewery, and ending your day with popcorn and a show at Eden’s own drive-in theater — all for less than $20. 

2. Laurinburg

• Population: 15,242

• Median income: $35,776

• Median rent: $674

• Median home price: $215,335

Just 43 miles west of Fayetteville, Laurinburg is a convenient location for young professionals or college students looking for a laid-back lifestyle with modern amenities and plenty of exciting things to do. Laurinburg still stays true to its agricultural roots, but the city has become a progressive business and cultural center within Scotland County — complete with a vibrant art scene, year-round festivals, progressive community services, and close proximity to big city attractions, beaches, and mountains. The 10,000 students attending St. Andrews University just south of Laurinburg have played a vital role in bringing the city to life. 

This three-time All-America City Award winner ranks #1 for cheapest median home prices in North Carolina and holds the lowest cost of living rate at 29.9% below the national average. That said, you’ll be able to get an impressive bang for your buck in this town beneath the oaks. 

3. Lumberton

• Population: 19,186

• Median income: $38,514

• Median rent: $665

• Median home price: $222,575

Located in North Carolina’s serene Inner Banks region, Lumberton rests on the edge of the Lumber River and was an important shipping point for — you guessed it — lumber. But despite its economic namesake, this historical town has embraced its location as the midway point between New York and Florida with a bustling hospitality and restaurant scene perfect for locals and those traveling through. Lumberton is also home to North Carolina’s first certified retirement community, which hosts a range of convenient amenities, services, and engaging opportunities for retirees.  

With some of the state’s lowest rent, home prices, and property tax rates, you’ll be able to live a low-cost lifestyle without compromising on dining options, outdoor activities, or a view of the river. If you're looking for a healthy dose of Southern hospitality and breathtaking landscapes, you’ll feel right at home in Lumberton. 

4. Rockingham

• Population: 9,200

• Median income: $33,351

• Median rent: $552

• Median home price: $215,844

With less than 10,000 residents, Rockingham is our smallest city to make the list of cheapest places to live in North Carolina. But don’t let its size fool you — Rockingham is jam-packed with outdoor activities and events. For wildlife enthusiasts, fishing and hunting at Sandhills Gameland and Blewett Falls will keep you busy all year round. The city is also home to the famous Rockingham Dragway, the North CarolinaZoo, and the prestigious Rockingham Golf Club, so there’s something everyone can enjoy. 

If you’re looking to keep bills as low as possible, Rockingham ranks #1 for affordable rent, #2 for cheapest home prices, and #8 for the lowest cost of living overall. And with a newly redeveloped downtown area, you won’t want to miss out on the opportunity to call this up-and-coming small town home.

5. Roanoke Rapids

• Population: 15,294

• Median income: $43,704

• Median rent: $680

• Median home price: $236,579

Nestled on the banks of the pristine Roanoke River, historic Roanoke Rapids boasts small town traditions while showcasing new and exciting attractions and events. With one of the highest median incomes on the list, you’ll have more to spend on the city’s main draws — catch a show at Roanoke Rapids Theatre, indulge at Haggerty’s Steakhouse, or spend a leisurely afternoon touring the local art galleries. The city also offers a plethora of outdoor adventures, such as kayaking and hiking along the river. 

Roanoke Rapids is home to WestRock Paper and Packaging Mill, the town’s largest employer. That said, there aren’t many career opportunities outside of manufacturing. However, if you’re working remotely or are a recent retiree drawn to a slow-paced routine, tight-knit community, and low-cost lifestyle, consider checking out Roanoke Rapids.

6. Tarboro

• Population: 10,733

• Median income: $41,281

• Median rent: $681

• Median home price: $219,943

Founded in 1760 on the bank of the Tar River, Tarboro is North Carolina’s oldest town. Despite its age, Tarboro has become a haven for young families and outdoor enthusiasts hoping to stretch their money further. The town is particularly well known for its historic churches and 15-acre town common — the second oldest one remaining in the United States. There’s plenty to enjoy around the common: ride your bike down one of the city’s many cycling routes, plan a fishing trip out on the Tar, or enjoy a book and a picnic under the town’s sweeping oaks. 

Over the past few years, Tarboro has welcomed three major manufacturing and distribution centers to its local economy, creating over 1,000 new jobs in the area. While Tarboro has historically been a lower-income town, its median household income has increased an astounding 38.6% since 2019. But despite the spike in income, home and rent prices have remained some of the lowest in the state. 

7. Henderson

• Population: 15,084

• Median rent: $668

• Median income: $36,147

• Median home price: $258,822

Just 40 minutes north of Raleigh, Henderson is a perfect representation of small-town Americana. Its effort to preserve its rich historical past has fueled its prosperity in modern times, with residents claiming the town is becoming an increasingly lovely place to live. Its proximity to the Blue Ridge Mountains provide some of the best hiking, camping, biking, and horseback riding in the state, and unlike some of the other small towns on this list, Henderson’s culinary scene goes far beyond fast food. 

Like all towns, there are nice and not-so-nice parts of Henderson. For young professionals or retirees looking to save some cash, you won’t find a lower cost of living north of Raleigh. 

8. Mount Airy

• Population: 10,547

• Median income: $33,773

• Median rent: $594

• Median home price: $274,796

Located in Yadkin Valley — North Carolina’s wine country — Mount Airy is a hub for wine and beer enthusiasts. However, fans of the Andy Griffith Show may be more familiar with the town’s main attraction: Mayberry. With storefronts like Floyd’s City Barber Shop and Snappy Lunch, a stroll down Main Street in the "Friendly City" transports you straight into the endearing ‘60s TV series. 

The nostalgic atmosphere and low-cost living makes Mount Airy one of the best places to retire in North Carolina. The city is committed to providing more age-friendly resources so elderly residents can participate in community activities. However, anyone looking to step away from the hustle and bustle of city life will find plenty to enjoy in Mount Airy. 

9. Reidsville

• Population: 14,463

• Median income: $34,221

• Median rent: $668

• Median home price: $268,803

If big cities like Raleigh or Charlotte are a bit out of your price range, Reidsville is an up-and-coming destination that hasn’t seen a spike in home prices and cost of living — yet. This sleeper city has plenty to offer newly married house hunters and young professionals in the way of outdoor activities, museums, art galleries, farmers markets, and historic attractions. And if you’re craving a night on the town, Greensboro is less than a half-hour drive. 

Many young people who live in Reidsville commute to Greensboro for work, so there are plenty of opportunities for residents looking to advance their careers while saving some serious cash on living expenses. 

10. Asheboro

• Population: 26,729

• Median income: $40,571

• Median rent: $685

• Median home price: $252,111

Home to one of the world’s largest natural habitat zoos, Asheboro is an affordable and family-friendly community to reside in. With over 25,000 residents, Asheboro isn’t quite a small town, but doesn’t have the noise and crowds of a big city, either. The recently renovated mall, charming downtown district, and well-kept neighborhoods provide the perfect backdrop for suburban living. However, if you want  a little more excitement, Asheboro is close enough to beautiful beaches, mountains, and multiple cities for a leisurely day trip. 

Like Reidsville, a majority of Asheboro residents work in Greensboro or Winston-Salem, but choose to live in Asheboro for its low home prices and safe communities. 

11. Washington

• Population: 9,754

• Median income: $38,843

• Median rent: $730

• Median home price: $232,900

Washington is rapidly becoming one of North Carolina’s gems of the Inner Banks thanks to its small town charm, ideal waterfront location along the Pamlico River, and eclectic mix of boutiques, restaurants, and attractions. Because the town is only about 9 square miles, everything is close and accessible — you can easily run errands and grab lunch downtown, pick the kids up from school, and take your dog for a gorgeous afternoon stroll along the waterfront all in one day. 

Despite it being one of the most popular destinations for tourists and sailors along North Carolina’s eastern coast, home prices, rent, and cost of living remain below the state average. 

12. Thomasville

• Population: 26,941

• Median income: $44,063

• Median rent: $707

• Median home price: $273,582

Thomasville was one of our top 30 picks for best cities to raise a family in North Carolina, but it also has an impressive home price to income ratio. If you’re looking to make — and save — more money, median income in Thomasville ranks highest out of our top 15 most affordable cities, while average home prices remain less than $275,000. 

Once a tiny town, Thomasville’s population has exploded over the past 30 years. However, the town manages to preserve its small town charm while offering many new amenities and attractions to accommodate its growing size. There are a variety of schools to choose from — with 38% ranking above average in quality — and plenty of restaurants, bars, and entertainment venues to keep the whole family busy. 

13. Lenoir

• Population: 18,205

• Median income: $42,411

• Median rent: $622

• Median home price: $324,573

If you’re looking for grand mountain views and lush forests, Lenoir has them. With hardwood abound, this area produces over 60% of furniture made in the U.S. and provides a majority of the jobs to the local economy. Lenoir has a 4.8% unemployment rate — 1.2% lower than the national average — and jobs are expected to increase as new industries, such as fiber optics, make their way into town. 

A booming economy has given life to the city’s recreational areas — since 2018, Lenoir has opened a new movie theater, several parks, a variety of restaurants, and began restoring its aging downtown district. Median home prices are slightly higher than other cities mentioned on our list, but low rent, property taxes, and overall cost of living make up for the higher mortgage payment. 

14. Kinston

Image source: Matthew D. Britt via Flickr

• Population: 19,888

• Median income: $33,280

• Median rent: $699

• Median home price: $272,503

Like many towns situated in eastern North Carolina, Kinston has a rich history that’s evident by the numerous historic buildings and sites throughout the city. But Kinston’s culture has undergone a recent revival — especially its food scene, thanks to Vivian Howard’s hit show “A Chef’s Life,” which highlights her local restaurant’s success. The city also has a vibrant arts and cultural district — dubbed smART Kinston — that consists of brightly painted historic buildings, unique murals, and crafted sculptures adorning the area. 

Average home prices are just under $273,000, and Kinston has the seventh lowest cost of living in the state at 25.6% below the national average. We recommend Kinston for retirees ready to settle down or aspiring artists craving inspiration, but young families may want to avoid this town. Locals note there aren’t many youth activities outside of school, and the crime rate is 6.2% higher than the average in North Carolina. 

15. Shelby

• Population: 21,564

• Median income: $41,565

• Median rent: $684

• Median home price: $301,971

Affectionately known as the City of Pleasant Living, Shelby is nestled in the foothills of the Blue Ridge Mountains — but it’s only a short drive to Charlotte and Asheville. If a daily commute doesn’ phase you, you can get the best of small town living — like some of the cheapest rent in the state — and big city conveniences while living in Shelby. 

For hunting and wildlife enthusiasts, bluegrass lovers, and baseball fans, Shelby is rich with things to do — like spending the day at the Earl Scruggs Center or attending the American Legion Baseball World Series in August. Families with young kids will especially enjoy taking advantage of Shelby’s impressive City Park, complete with beautiful gardens and the town’s iconic carousel. 

Other Cheapest Places To Live in North Carolina

Check out the rest of the top 30 most affordable cities in North Carolina below.

FAQ

Which city in North Carolina has the lowest cost of living?

At almost 30% less than the US average, Laurinburg, NC, has the lowest cost of living in the state. You’ll be able to find housing, transportation, and groceries cheaper than most other cities in the state. 

Where is the cheapest place to buy a house in North Carolina?

According to our data, Laurinburg is also the cheapest place to buy a house in North Carolina. As of January 2023, the median home price is $215,335, but you can easily find a two-bedroom single family home for less than $150,000. 

Which city in North Carolina has the cheapest rent prices?

At just $552, Rockingham has the lowest median rent price in North Carolina, followed by Mount Airy ($594) and Lenoir ($622). 

Is North Carolina a cheap state to live in?

North Carolina is neither expensive nor cheap — it has the 24th lowest cost of living in the U.S., making it a comfortable place to live for many. The Bureau of Economic Analysis calculated North Carolinians spent an average of $43,959 on personal expenditures in 2021 — a fair middle ground between consumers in Massachusetts ($58,532) and Mississippi ($36,445).

Methodology

To bring you the full picture on which cities to consider when seeking the cheapest lifestyle in North Carolina, we gathered data on the 100 most populous cities in North Carolina.

Several cities are located in multiple counties. When looking at county data, we used data for the primary county of that city. 

Cities with less than 8,000 people were excluded from our studies. The city of Huntersville was excluded due to environmental concerns from a 2020 pipeline spill. The following cities were excluded due to a lack of data on one or more of our factors:

• Anderson Creek

• Lake Norman of Iredell

• Spout Springs

• Piney Green

We looked at six affordability factors to rank the cheapest places to live in North Carolina. We weighted those factors as noted below:

• Median income by city: 15%

• Median monthly rental price by city: 25%

• Median monthly rental price of a two-bedroom apartment by county: 5%

• Cost of living: 25%

• Median home price: 25%

• Average property tax by county: 5% 

Get More for Less With UpHomes

It can be difficult to find a home that strikes a balance between affordability and personal appeal. However, the wide range of cheapest cities to live in North Carolina means there’s bound to be a place that fits your unique interests, lifestyle, and bank account. When you’re ready to make your next big move, get in touch with UpHomes for expert advice on your home buying journey.