Unveiling the Top 10 Most Affordable Cities in North Carolina [2024 Update]

North Carolina, with its diverse landscapes, vibrant culture, and thriving economy, offers an abundance of opportunities for residents seeking an affordable cost of living. From picturesque mountain towns to bustling urban centers, the state provides a variety of options for individuals and families looking to settle down. In this blog article, we will explore the top 10 most affordable places to live in North Carolina. We will highlight their unique features, cost of living, and why they are worth considering.

This article was originally published on Jul 31, 2023.

Top 10 Most Affordable Places to Live In North Carolina

10. Kannapolis

Located just northeast of Charlotte, Kannapolis offers an affordable cost of living and a small-town atmosphere. The city provides affordable housing options, a growing job market, and access to urban amenities. Kannapolis is home to the North Carolina Research Campus, which fosters innovation and offers employment opportunities. With its community events, recreational facilities, and affordable living, Kannapolis is an attractive option for those seeking affordability and convenience.

Median home price: $304,750 (Redfin)

9. Burlington

Located in the heart of North Carolina, Burlington offers a low cost of living paired with a strong sense of community. The city boasts affordable housing options, a robust job market, and excellent healthcare facilities. With its charming downtown area, proximity to outdoor recreational activities, and affordable lifestyle, Burlington is an ideal choice for individuals and families seeking affordability and quality of life.

Median home price: $270,000 (Redfin)

8. High Point

High Point is known for its furniture manufacturing and is home to the semi-annual High Point Market, the largest home furnishings industry trade show in the world. The city offers a cost-effective lifestyle with a variety of housing options, good schools, and parks.

Median home price: $277,000 (Redfin)

7. Winston-Salem

Known for its rich history and Southern charm, Winston-Salem offers an affordable lifestyle in a culturally rich environment. The city features affordable housing options, a low cost of living, and a strong job market, particularly in the healthcare and education sectors. Winston-Salem is home to renowned universities, including Wake Forest University, and boasts a thriving arts scene with galleries, theaters, and music festivals. With its historic districts, beautiful parks, and affordable amenities, Winston-Salem provides residents with a well-rounded and affordable lifestyle.

Median home price: $267,500 (Redfin)

6. Gastonia

Situated near Charlotte metro, Gastonia offers an affordable lifestyle with a range of amenities. The city features affordable housing options, a thriving retail scene, and numerous entertainment venues. With its strong sense of community, affordable living, and proximity to Charlotte’s offerings, Gastonia provides an ideal balance between affordability and urban convenience.

Median home price: $308,000 (Redfin)

5. Greenville

Located in the eastern part of the state, Greenville combines affordability with a thriving arts and entertainment scene. The city offers affordable housing options, a diverse job market, and a range of recreational activities. Greenville is home to East Carolina University, contributing to a lively college-town atmosphere. With its affordable cost of living and vibrant community spirit, Greenville offers a high quality of life at an affordable price.

Median home price: $245,000 (Redfin)

4. Fayetteville

As one of the largest cities in North Carolina with population of 208,501 residents, Fayetteville offers an affordable cost of living and a range of amenities. The city provides affordable housing options, a diverse job market, and a strong military presence. With its historic sites, numerous parks, and cultural events, Fayetteville offers a vibrant community atmosphere and an affordable lifestyle for residents of all ages.

Median home price: $240,000 (Redfin)

3. Rocky Mount

Rocky Mount is one of the most affordable places to live in North Carolina. With about 54,400 residents, it has affordable healthcare which is 12.6% lower than the average. Rocky Mount offers a budget-friendly living environment without compromising on amenities. In Rocky Mount, you can explore local attractions such as the historic Rocky Mount Mills, which features a variety of shops and restaurants, or take a scenic walk along the Bridge Tar River Trail. The combination of affordability and community makes Rocky Mount a compelling choice for homebuyers seeking a balanced lifestyle in North Carolina.

Median home price: $217,500 (Redfin)

2. Lumberton

Situated in southeastern North Carolina, Lumberton offers an affordable cost of living in a close-knit community. The city provides affordable housing options, a lower-than-average cost of groceries and utilities, and a variety of recreational activities. Lumberton’s proximity to natural attractions, such as the Lumber River State Park, offers opportunities for outdoor adventures. With its affordable living and strong community ties, Lumberton provides a welcoming and affordable lifestyle.

Median home price: $222,575 (Go Banking Rates)

1. Eden

Eden is a hidden gem in North Carolina, offering a peaceful, budget-friendly lifestyle. The city, with its population of around 15,300, provides a welcoming community atmosphere and a slower pace of life, ideal for families and retirees alike. Situated at the confluence of the Dan and Smith Rivers, Eden offers abundant outdoor activities such as fishing, hiking, and picnicking. Eden is an ideal spot for those seeking a peaceful and budget-friendly living environment.

With a cost of living significantly lower than the national average, Eden allows residents to stretch their budgets further while enjoying a high quality of life. Major employers like Osborne and Gildan contribute to a stable local economy, providing job opportunities and supporting the community’s growth.

Median home price: $219,443 (Go Banking Rates)

Factors that Contribute to Affordability

Several factors contribute to the affordability of these cities in North Carolina.

1. The cost of housing plays a significant role. The median home prices in these cities tend to be more affordable compared to both the national and state averages, allowing residents to find affordable housing options that fit their budgets.
2. The overall cost of living in these cities is often lower compared to larger urban areas. Expenses such as groceries, healthcare, transportation, and utilities tend to be more affordable, helping residents manage their finances effectively.
3. These cities offer a range of employment opportunities. Whether it’s the presence of major industries, educational institutions, healthcare facilities, or a thriving local economy, job prospects are available to residents, contributing to their overall financial well-being.

The Importance of Quality of Life

While affordability is a crucial factor, it’s important to consider the overall quality of life when choosing a place to live. Fortunately, these affordable cities in North Carolina excel in providing a high quality of life in various aspects:

• Education. North Carolina is known for its excellent education system, and many of these cities have reputable schools and universities, ensuring access to quality education for residents.
• Healthcare. Access to quality healthcare facilities is essential for a good quality of life. These cities have healthcare providers that offer a range of medical services and ensure residents’ well-being.
• Recreation. From parks and outdoor activities to cultural events and entertainment venues, these cities provide a range of recreational opportunities that contribute to an enriching and fulfilling lifestyle.
• Community. The sense of community and welcoming atmosphere found in these cities create a supportive environment where residents can forge connections, participate in local events, and enjoy a strong community spirit.

Conclusion

North Carolina has many affordable cities that provide an ideal balance between cost of living and quality of life. Take the time to explore these cities and discover the one that aligns with your preferences and budget, as they provide the chance to create a fulfilling and affordable life in the Tar Heel State.

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