10 Most Affordable Places to Live in North Carolina
With so many amazing career opportunities and a wide array of outdoor activities, it’s no wonder that North Carolina is constantly among the top 10 most populated states. However, with a higher population comes higher living costs.
But don’t fret; expensive housing won’t stop you from moving to the Tar Heel State. How? Because we did the research for you and found the 10 most affordable areas in North Carolina!
Before making this list, we considered a few factors such as earning potential, the city’s cost of living, quality of life, attractions, and employment rates.
Cary
Having a low unemployment rate is just as important as a city’s affordability. Speaking of low unemployment rates, the city of Cary has an unemployment rate of 5.6 percent, which is the lowest of all the cities that are on this list. Furthermore, those who are employed are privy to a remarkably high annual salary. In fact, the median household income in Cary is $90,250. Cary also provides ways to cut costs such as multiple public transport options.
Durham
Durham is a city that has everything wrapped into a single location, all the while maintaining its affordability. Almost 70 percent of homeowners spend less than 30 percent of their monthly income on housing expenses. Also, Durham has an average monthly rent of only $852! However, living cheaply doesn’t mean you have to throw away quality. Case in point: Durham has some of the most affordable health care in all of North Carolina. It’s also been named the “Foodiest Small Town in America” by Bon Appetit.
Concord
A lot of U.S. homes cost up to $300,000 to $400,000, making homeownership almost unattainable. However, Concord is the place to make your dream of owning a home into a reality. The median house price in Concord is extremely low at $168,300 and the average mortgages average 1,441. Concord residents also enjoy a reasonably high household income, with a median annual salary being $53,000. what’s this mean for you? You get to spend less on house expenses and more on living the way you want.
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