USA Cost of Living Compare US cities and states with official data

Virginia vs North Carolina: cost of living compared

Statewide price levels and incomes from BEA (2024); gas prices from EIA (weekly).

Is it cheaper to live in Virginia or North Carolina?

  • Overall, North Carolina is 6.7% less expensive than Virginia (BEA, 2024).
  • To keep the same standard of living, $75,000 in Virginia works out to about $70,000 in North Carolina, before taxes.
  • Most of the difference is housing, which costs 23.8% less in North Carolina. Goods are 3.7% lower and other services 2.0% lower.
  • After adjusting for local prices, personal income per person is $56,310 in North Carolina and $61,914 in Virginia (9.1% lower in North Carolina; BEA, 2024, in 2017 dollars).
  • Inside each state, metro price levels run from 88.0 in Rocky Mount, NC to 98.2 in Raleigh, NC (North Carolina) and from 89.4 in Lynchburg, VA to 99.1 in Charlottesville, VA (Virginia), US = 100.
  • The gap is about where it was in 2019 (8.2%).

derived Calculated from BEA Regional Price Parities and real personal income by state. Statewide averages mix cities and rural areas; taxes are not included. How we calculate.

Try your own salary

18% matches BEA's average basket. Set your own share if housing takes more or less of your budget.

Category by category

Both states against the US average (100).

Housing drives the gap: 23.8% lower in North Carolina than in Virginia

Price level by category, 2024. US average = 100.

  • Virginia
  • North Carolina
All items
101.1 94.3
Goods
100.4 96.6
Housing (rents)
106.8 81.4
Utilities
92.2 88.6
Other services
100.2 98.2

Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).

Show the numbers
VirginiaNorth Carolina
All items101.194.3
Goods100.496.6
Housing (rents)106.881.4
Utilities92.288.6
Other services100.298.2
CategoryVirginiaNorth CarolinaNorth Carolina vs Virginia
All items101.194.3−6.7%
Goods100.496.6−3.7%
Housing (rents)106.881.4−23.8%
Utilities92.288.6−3.9%
Other services100.298.2−2.0%
Income per person, adjusted for prices $61,914 $56,310 −9.1%
Regular gas, week of October 19, 2026* $3.86 $3.86 0.0%
Salary to match $75,000 in Virginia $75,000 $70,000 −6.7%

Index values: BEA, 2024, US = 100. Income: BEA real personal income per person, 2017 dollars. Gas: EIA weekly retail prices. *Lower Atlantic region average (EIA has no separate Virginia figure). *Lower Atlantic region average (EIA has no separate North Carolina figure).

Cheapest and most expensive places in each state

Virginia

  1. Kingsport, TN 86.4
  2. Lynchburg, VA 89.4
  3. Staunton, VA 91.1
  4. Blacksburg, VA 92.7
  5. Roanoke, VA 93.6
  6. Harrisonburg, VA 94.9
  7. Winchester, VA 96.5
  8. Richmond, VA 97.9
  9. Virginia Beach, VA 97.9
  10. Charlottesville, VA 99.1
  11. Washington, DC 108.9

North Carolina

  1. Rocky Mount, NC 88.0
  2. Pinehurst, NC 88.3
  3. Greenville, NC 88.4
  4. Goldsboro, NC 88.5
  5. Hickory, NC 88.5
  6. Fayetteville, NC 92.0
  7. Winston-Salem, NC 92.0
  8. Jacksonville, NC 92.1
  9. Greensboro, NC 92.9
  10. Burlington, NC 93.2
  11. Wilmington, NC 96.4
  12. Asheville, NC 96.5
  13. Charlotte, NC 97.3
  14. Durham, NC 97.6
  15. Virginia Beach, VA 97.9
  16. Raleigh, NC 98.2

Metro areas ordered from cheapest to most expensive. BEA, 2024, US = 100.

How the gap has changed since 2008

The price gap between Virginia and North Carolina has narrowed since 2008: 10.8 points then, 6.8 now

Overall price level each year, 2008–2024. US average = 100.

  • Virginia
  • North Carolina
US average = 100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities by state, 2024 (US = 100).

Show the numbers
VirginiaNorth Carolina
2008103.292.4
2009102.491.3
2010103.792.9
2011103.493.6
2012102.593.5
2013103.593.7
2014103.593.8
2015103.693.6
2016102.893.8
2017101.293.0
2018102.092.9
2019100.191.9
2020101.091.3
2021102.393.7
2022102.094.0
2023101.394.4
2024101.194.3

Goods

  • Virginia
  • North Carolina
US = 100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities by state, 2024 (US = 100).

Show the numbers
VirginiaNorth Carolina
2008102.796.6
2009101.894.3
2010101.796.9
2011100.696.4
201299.395.6
2013101.396.0
201499.095.7
201598.695.0
201699.295.9
201798.695.7
201899.795.7
201999.195.7
202099.495.4
2021101.496.2
2022100.595.6
2023101.196.8
2024100.496.6

Housing (rents)

  • Virginia
  • North Carolina
US = 100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities by state, 2024 (US = 100).

Show the numbers
VirginiaNorth Carolina
2008112.974.3
2009114.275.3
2010114.475.4
2011114.576.3
2012113.475.8
2013115.876.0
2014115.276.3
2015114.975.8
2016111.874.7
2017110.975.5
2018112.675.3
2019107.475.4
2020111.475.0
2021110.176.0
2022107.778.8
2023105.680.8
2024106.881.4

Utilities

  • Virginia
  • North Carolina
US = 100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities by state, 2024 (US = 100).

Show the numbers
VirginiaNorth Carolina
200890.985.4
200994.185.5
201092.287.6
201192.387.3
201295.090.5
201392.589.8
201492.990.4
201594.591.0
201694.188.4
201791.585.4
201892.686.8
201994.689.2
202093.987.7
202191.984.6
202292.182.5
202392.483.6
202492.288.6

Other services

  • Virginia
  • North Carolina
US = 100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities by state, 2024 (US = 100).

Show the numbers
VirginiaNorth Carolina
2008101.297.7
200999.696.6
2010102.498.1
2011102.699.5
2012101.899.9
2013101.8100.0
2014103.6100.2
2015104.1100.3
2016102.9100.7
2017100.698.8
2018100.898.3
201998.795.8
202099.195.5
2021101.099.6
2022101.999.7
2023100.698.7
2024100.298.2

What incomes buy in each state

Income per person after adjusting for prices: $56,310 in North Carolina, $61,914 in Virginia

Real personal income per person, constant 2017 dollars (adjusted for each state's price level and for inflation).

  • Virginia
  • North Carolina
  • United States

Source: U.S. Bureau of Economic Analysis, real personal income by state (SARPI), 2008–2024.

Show the numbers
VirginiaNorth CarolinaUnited States
2008$49,355$45,858$45,816
2009$48,471$44,321$44,204
2010$48,469$42,691$44,808
2011$49,623$42,462$45,957
2012$50,690$44,038$46,796
2013$48,667$42,463$46,358
2014$49,588$43,820$47,661
2015$51,307$45,796$49,396
2016$52,239$46,302$49,828
2017$53,847$47,646$51,006
2018$54,059$48,676$52,242
2019$56,459$50,966$53,683
2020$58,286$54,346$56,514
2021$60,423$56,146$59,365
2022$58,797$54,204$57,104
2023$60,556$54,748$58,088
2024$61,914$56,310$59,195

More

Related state comparisons

What this comparison leaves out

  • Taxes. State income, sales and property taxes differ a lot between states and are not included.
  • Where you live inside the state. Statewide figures average cities and rural areas; the metro lists above show the spread.
  • Your own spending mix. The default uses an average household. Use the housing slider if housing is a bigger share of your budget.
  • Timing. BEA price levels and incomes are for 2024; gas prices are weekly.

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