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What are the cheapest places to live in north carolina - what are the cheapest places to live in norWhat are the cheapest places to live in north carolina - what are the cheapest places to live in nor.The Cheapest Places to Live in North Carolina
- The Cheapest Places to Live in North Carolina | Rent. Blog
One highlight is Lake Reidsville and the surrounding parks, where you can enjoy camping, fishing, and boating. If you want to take a trip to a big city, Greensboro is a mere 24 miles south, making weekend jaunts a breeze. While the list above is sorted by the lowest overall cost of living index, the following cities have the lowest home price to income ratio, meaning you can get more home for your money. She writes blogs on new homes, decor, communities, and more for NewHomeSource. By downloading our guide, you can also look forward to receiving our New Home short email series.
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If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page. Manage Settings Continue with Recommended Cookies. If you ask any North Carolinian, they will say hands down that North Carolina is one of the best states in the country. And in order to be one of the best, they have to have some of the nicest, most affordable places to call home, right? It means the cost of living is doable.
And that means that you have more money to do the fun stuff that the Tar Heel State has to offer: like renting a summer beach house in the Outer Banks or taking a snowboarding trip to the Blue Ridge Mountains.
It seems like North Carolinians are always on the go having fun around every turn. Consequently, despite its unaffordability for renters, Shelby is among the most affordable cities for homeowners in North Carolina. However, like those in Kinston and Shelby, renters in Lumberton have relatively low incomes and can't absorb housing costs well.
These disparities are the seventh and eighth largest among the cities we surveyed. For both homeowners and renters, the cost of insurance is a factor in determining a home's affordability. Since the cost of insurance varies with household due to a variety of reasons, including personal history and location, it's best to consider the coverage options from a few providers. Because homeowners insurance is often included as a requirement by mortgage lenders, its costs are included in the Census Bureau's calculations of affordability.
The price of renters insurance isn't accounted for, though. Since the state also ranks in the National Association of Insurance Commissioners' NAIC list of states that make flood damage claims, it could be a good idea to purchase flood insurance as well.
Most homeowners insurance policies don't provide coverage for this type of peril, but coverage is often a small percentage of one's income. Like homeowners, renters in North Carolina should consider flood insurance, as this type of damage is not often covered by a typical policy. Because the cost of renters insurance isn't accounted for by the Census Bureau's assessment of gross net rent, tenants who purchase this protection must consider its cost separate from utilities. Fortunately, since the cost of renters insurance is significantly cheaper than homeowners insurance, its price carries a lower financial burden, even with flood insurance.
We analyzed the affordability of owning and renting a home in this state using data from the Census Bureau's database. The major cities in this study have an estimated population of over 20, people as of More information pertaining to home affordability can be found here.
Chapel Hill is filled with an abundance of opportunities, which further compliments its affordability. Being one of the most popular suburban areas in North Carolina, Morrisville has a population of over 22, residents and has favorably ranked in areas like the availability of jobs, public schools, ethnic and economic diversity. Wake Forest is another suburban area in North Carolina located north of the state capital. The town is home to almost 35, residents and used to be the original home of Wake University before its relocation to Winston-Salem.
The northern capital of North Carolina, Raleigh, which is also known as the City of Oaks, is a great place for people who love the excitement of the bustling city. This huge city is home to over , people, who enjoy the low cost of living. Waxhaw is a small suburban area and is one of the fastest-growing places in North Carolina. Nashville in North Carolina is a very different place to Nashville in Tennessee. Not only is Nashville one of the most affordable places to live in North Carolina, but it is also one of the safest places to live in the state.
If these two benefits are not enough to persuade you that Nashville is a good option, then consider that there is a strong job market in the surrounding area, and there are lots of outdoor activities to enjoy.
On the downside, the schools in the area are not great. Regardless of whether you are renting or buying a property, Winterville is an affordable place to live. Although the house prices are higher than in many other North Carolina towns and cities, it is counteracted by the higher median household income in this area. The higher earning potential is thanks to the high-paying job opportunities across various sectors. Winterville is a city in Pitt County with 9, residents.
Newton is a town in Catawba County with a population of 13, However, renting is not as cheap as in other areas, so Newton is more affordable for those who intend to buy their own homes. Another reason that Newton is an affordable place in which to live is that there are lots of nice outdoor spaces and parks to enjoy, which gives residents ways to spend their leisure time without spending any money.
Although the cost of buying a property is reasonable, renting is especially affordable in Archdale.
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