How Much Does It Cost to Live in NY, CA, and NC?
Compare the cost of living in these three popular states.
As remote work retains popularity, homeowners throughout the U.S. seek locations that balance a high quality of life and a low cost of living. Young professionals in the tech industry are particularly mobile, and many are left weighing their options between staying in cities that are traditionally rich in tech jobs, like San Francisco and New York City, or moving to more affordable areas.
At the same time, many cities that used to be relatively affordable, like Denver and Charlotte, have seen steep increases in the cost of living over the last few years as populations have increased in these desirable spots. So, is a move really worth it? Get a breakdown of the cost of living in North Carolina vs. New York or California.
New York
New York City houses headquarters for tech companies like Google and IBM in addition to Wall Street and a thriving business district. It’s not hard to figure out why young professionals used to flock to the Big Apple for access to a world of opportunities and networking avenues.
At the same time, New York City is among the least affordable places to live in the U.S. For example, the average monthly grocery bill in NYC is $486, while the rest of the country averages $348. According to ApartmentList, 90% of NYC apartments rent for more than $3,000 per month, and StreetEasy states that the median asking price for homes in the city is $995,000.
As a whole, the cost of living in the state of New York sits 31% higher than the national average according to RentCafe.
California
While New York prices look outrageous, the cost of living in California is even higher. In fact, RentCafe calculates that the cost of living in California is 39% higher than the national average. Housing makes up the majority of this discrepancy at 102% higher than the national average, while utilities and transportation average 22 and 27 percent higher, respectively.
Home to tech giants like Apple, Oracle, and Cisco, California — especially Silicon Valley — used to be a beacon for young professionals in the tech space. However, as work environments grow more flexible and the possibility of working from home begins to outshine decked-out downtown offices, many workers are leaning away from these expensive coastal cities in favor of a more balanced lifestyle.
North Carolina
In stark contrast to both New York and California, RentCafe places the cost of living in North Carolina at 5% lower than the national average. While healthcare in the Tar Heel State averages 7% higher than the national average, housing is 14% lower and transportation is 7% lower.
These data points help explain why many people are making a move to North Carolina. For many, this lower cost of living does not come with large sacrifices when it comes to quality of life: North Carolina’s cities overflow with cultural offerings, the climate is relatively mild, and the endless outdoor recreation opportunities draw families and individuals from every walk of life.
At the same time, this recent population growth has meant a difficult journey for hopeful homebuyers in cities like Charlotte and Raleigh. Existing homes seldom meet the requirements of families moving to the area, and prices continue to rise as demand holds steady in these hotspots. While the relative affordability of North Carolina is refreshing, attempting to enter the existing home market often feels frustrating.
Fortunately, there are other options for those hoping to own a home in North Carolina. Custom homebuilding with Atmos is a streamlined path for creating a home that checks all of your boxes. From your ideal location to a layout optimized for your routines, Atmos makes every aspect of your dream home come to life. Better yet, the process of designing and building is as smooth as possible with Atmos project managers at your side.
Ready to build the home of your dreams in North Carolina? Get started with Atmos today!
