Most Expensive Cities in North Carolina

Are you interested in living in North Carolina and want to know the most expensive places in NC? Keep reading to learn more about the most expensive cities in NC.

North Carolina is a state that is well-known for its stunning landscapes, vibrant cities, top-rated colleges, adorable small towns, and walkable cities. It is considered one of the top states to live in, owing to the beautiful mountains and sandy beaches that make it an attractive place to reside in.

Each city and town in North Carolina has something unique to offer its residents, depending on their ideal location. Whether you want to raise a family, retire, find a job, or go to school, there is something for everyone in this state.

However, even though the overall state is, on average, an affordable place to live, some expensive cities are higher than others. If you are looking to move to North Carolina, knowing what area will fit your needs and lifestyle ideally is essential, so knowing what you can afford while living happily is necessary. 

If you want to move to a new place with so much to offer, you may consider looking for available real estate in North Carolina. From walkable to affordable to safe neighborhoods, there is something different for everyone in North Carolina.

Keep reading to learn more about the most expensive cities in North Carolina. 

1. Chapel Hill

Chapel Hill is located 30 miles from Raleigh and is part of the research triangle. Home to the University of North Carolina at Chapel Hill, this area is a very populated city with something for everyone, whether you are searching for a thriving job market, beautiful scenery, or high-ranked schools. 

According to Payscale, the cost of living in Chapel Hill is 2% higher than the national average. This city offers upscale shops, fine dining, and a pleasant atmosphere, contributing to the higher cost of living compared to surrounding areas. The university's presence also plays a significant role in the higher prices. The annual household income in Chapel Hill is approximately $85,940, which is higher than the national average.

If you're looking for homes for sale in the area, you must be aware of the housing market. The median home price in this region is around $541,547, which is higher than the national average. However, since the area is so large, many different neighborhoods exist.

Chapel Hill is a popular place for families, young adults, and retirees. Regardless of your interests, this city has something for everyone. However, the town's overall housing cost is 20% higher than the national average, and other expenses are also relatively high.

If you're planning to move to Chapel Hill, it's essential to consider all the factors. This beautiful city is thriving and offers a lot to its residents. If you're interested in moving here, be sure to check out the gorgeous homes that are for sale in Chapel Hill.

2. Boone

Boone is a quaint little town located in the Blue Ridge Mountains and is one of the most popular western towns in North Carolina. The thriving tourism industry, expansive university, and growing community are just a few reasons this city is more expensive than the surrounding areas. 

With high demand and little supply of homes, the housing market is very competitive in Boone, and housing is more expensive than in other areas. However, the cost of living is less than 1% higher than the national average and 10% higher than the state average.

For the total cost of housing, food, transportation, and other necessities, a single adult will spend about $39,355 yearly, almost the same as the state and national average. To live comfortably in Boone, a minimum annual income for a family should be around $80,280, and for a single person, $26,400. 

A typical home in Boone costs about $418,000, 23.0% more than the national average. If you are relocating to the area, you should be aware that the housing market is competitive, and if you want to move here, start looking for homes available. 

3. Wilmington

Wilmington is a top choice for those searching to relocate to the southern coast. Voted as "America's Best Riverfront," this city is surrounded by beautiful beaches, thriving city life, and welcoming residents. This beach town is continually growing and attracting many new people. 

Wilmington's cost of living is 4% lower than the national average but has grown significantly over the years. The city of Wilmington has been experiencing notable growth in home values. The home prices here are 23% lower than the national average, with a median home price of about $347,654. 

The Wilmington housing market is highly competitive due to its popularity among home buyers. Home prices are consistently on the rise in this area. Although the overall cost of living in Wilmington is lower than the national average, it is still considered relatively expensive compared to other cities in North Carolina. 

As more and more people are moving to this desirable location, the cost of living in Wilmington is 11% higher than the North Carolina average. However, it is still affordable, considering the amenities and quality of life it offers. Wilmington is known to be one of the best places to live in North Carolina, especially for those who love coastal towns.

If you want to relocate, you should check out some of the beautiful homes in this area.

4. Asheville

Asheville is a vibrant city in the Blue Ridge Mountains, offering natural beauty and popular attractions. Home to many breweries, art, and cultural opportunities, this city is ideal for adventure seekers and culture lovers. 

The cost of living in Asheville is 0% higher than the state and national average. However, the housing expenses are 3% more expensive than the nationwide average. The median home price in Asheville is about $462,637, with a median rent of about $1,407 a month. 

Homes are more expensive in Asheville due to tourism and the demand for housing with insufficient room. The natural increase in demand for housing made prices rise drastically, and it is only on the rise right now because of the desire to be here. 

Asheville and the surrounding western areas are known for their breathtaking natural beauty, making them highly desirable destinations for people looking to relocate. The area offers residents the perfect combination of a small-town feel and big-city amenities, making it a popular choice for many. 

However, due to the recent population influx, the housing market in the area has become increasingly competitive. If you're looking to buy a home in Asheville, it's recommended that you check out the available real estate options now, while homes are still relatively affordable.

5. Nags Head

Nags Head is a coastal town in Dare County mainly known for its beautiful beaches and rich history. However, due to the area, the median home price is about $887,000, which makes it one of the most expensive cities to live in the state. 

Due to its location off the coast, this is a popular destination for tourists, and there are many things to do. The luxury homes and oceanfront houses make Nags Head an upscale and attractive location for coastal lovers. 

The cost of living in Nags Head is relatively high compared to the state and national average. A single adult's total cost of living is around $61,600, and $124,920 for a family. Overall, the cost of living in Nags Head is approximately 2% higher than the national average and 11% higher than the statewide average.

However, despite being expensive, Nags Head is a fantastic place to live. The town has a unique atmosphere, many activities, and breathtaking landscapes. Additionally, home appreciation has increased by 13.7% in the past year, making it a great time to search and buy a home here.

Whether you're looking for a permanent residence or a vacation home, though the destination may be pricey, it is worth considering due to all it offers.

6. Charlotte

Charlotte ranked among the top 25 most expensive cities in North Carolina. However, according to Payscale, the cost of living in Charlotte is still 2% lower than the national average.  Remember, though, that with the solid economic growth, Charlotte has seen an increase in housing and overall expenses, which concerns the residents and new residents. 

Moving to Charlotte is a popular thing for people to do. People who are searching to move to North Carolina either choose Charlotte or Raleigh because of the pros they both have. 

Charlotte boasts a flourishing job market, making it an affordable place to live. Although the city is expanding rapidly, there is still ample room for new homes. However, the cost of housing is comparatively high, especially compared to the Northeast.

Nevertheless, Charlotte is one of the best cities in the United States in terms of employment opportunities. With an unemployment rate of only 4.9% and a median salary that surpasses the national average, Charlotte is an excellent choice for those seeking higher-paying jobs. 

If you're considering relocating to Charlotte, it's essential to research the different neighborhoods and communities to find the one that suits you best. The prices of homes vary significantly depending on the area, so it's essential to choose wisely. Regardless of where you decide to live in Charlotte, you can expect to enjoy a high quality of life.

7. Cashiers

Cashiers is a stunning mountain town well-known for its charming views and pleasant atmosphere. However, this beautiful town has a high price tag due to its popularity, with an average home price of approximately $1 million.

It is a popular destination for vacationers and retirees, making it an expensive place to live. Nonetheless, despite the high cost of living, several beautiful and luxurious homes are for sale throughout the mountains, catering to different preferences and providing a high quality of life.

The average household income for cashiers is about $110,158, significantly higher than the national average. However, due to high land values, it is challenging for middle-income individuals to afford to live here.

The cost of living in Cashiers is 7% higher than the state average and 1% higher than the national average. The primary reason living here is more expensive is housing costs, which are 7% higher than the national average because of the town's popularity and location.

Despite the high cost of living, the residents of Cashiers are welcoming and friendly, creating a warm and inviting atmosphere for new residents and tourists.

If you are searching for a unique and beautiful area in the Blue Ridge Mountains, then Cashiers may be the place to look for homes for sale. With positive job growth, average temperatures throughout the year, excellent schools, and unique things to do, Cashiers is a town for everyone and anyone.

Methodology

We used information and data from different sources and our data to determine the most expensive cities in North Carolina.  There were various data to use, so we put them together to predict the most costly cities in NC. 

• Payscale
• Census
• ERO Economic Research Institute 
• BestPlaces
• AreaVibes

The following are a few sources that we used to gather most of our information about the most expensive cities in North Carolina. 

FAQS

What is a good salary in NC?

The salaries for individuals in the 25th percentile average about $38,917, while those in the 75th percentile earn around $66,262.

Where is the most excellent place to live in North Carolina?

North Carolina has numerous attractive places to live, the most popular ones being Raleigh, Charlotte, and Chapel Hill, for various reasons.

Is North Carolina an expensive place to live in?

According to the Bureau of Economic Analysis, the average cost of living in North Carolina is about $38,295 a year, considered affordable compared to other states. 

Most Expensive Cities in NC - The Bottom Line

North Carolina is a state that has a lot to offer. Its unique qualities and high rankings extend from the coast to the mountains. Each city throughout the state has something unique to offer - natural beauty, southern hospitality, or exciting activities. 

However, while North Carolina is, on average, an affordable place to live, some cities are more expensive than others. So, if you're considering moving to North Carolina, knowing which area would be the best fit for your needs and lifestyle is crucial. Understanding what you can afford while living happily is necessary.

Before you buy your next home or make the big step to move, contact one of our helpful real estate specialists, who are eager to help you find the perfect home.