Silver Lake, NC Cost Of Living

Demographics | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Silver Lake, NC Summary

Cost of living in Silver Lake research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Silver Lake is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in North Carolina, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Silver Lake is 98, with 100 being the average.

  • The cost of living index in Silver Lake is 1.0x lower than the national average.

  • Silver Lake ranks as the #92 cheapest in North Carolina out of 153.

  • Silver Lake ranks as the #2,890 cheapest out of 6,412 in the US.

  • The median home value in Silver Lake is $190,500.

  • The median income in Silver Lake is $74,785.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
98
Silver Lake's Overall Cost Of Living
1.0x
Lower Than The National Average

What is the cost of living in Silver Lake, NC?

According to the most recent data on the cost of living, Silver Lake has an overall cost of living index of 98, which is 1.0x lower than the national index of 100.

Compared to North Carolina, Silver Lake has a cost of living index that's 1.0x higher than North Carolina's index of 95.

The standard of living in Silver Lake ranks as #92 most affordable out of the 153 places we measured in North Carolina. By definition, that implies Silver Lake ranks as the #61 most expensive place in the Tar Heel State.

For more reading on life in Silver Lake, check out:

92 out of 153
In North Carolina
2,890 out of 6,412
In America

Silver Lake Cost Of Living Vs. North Carolina

Six factors go into calculating the cost of living index in Silver Lake. Here is how it fairs on each of the criteria:

  • The Services index in Silver Lake is 103.

  • The Groceries index in Silver Lake is 97.

  • The Health index in Silver Lake is 109.

  • The Housing index in Silver Lake is 90.

  • The Transportation index in Silver Lake is 108.

  • The Utilities index in Silver Lake is 104.

Living Expense Silver Lake North Carolina National Average
Overall 98 95 100
Services 103 97 100
Groceries 97 98 100
Health 109 108 100
Housing 90 91 100
Transportation 108 92 100
Utilities 104 95 100
For more reading on cost of living around North Carolina, check out:
Silver Lake Cost of Living Vs. NC

Silver Lake, NC Housing Cost Breakdown

Housing swings affordability the most between places in North Carolina, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Silver Lake is $190,500.

  • The Median Rent in Silver Lake is $1,117.

  • The Median Income in Silver Lake is $74,785.

  • The Home Value To Income in Silver Lake is 2.5x.

  • The Rent To Monthly Income in Silver Lake is 0.18x.

Statistic Silver Lake North Carolina United States
Median Home Value $190,500 $197,500 $244,900
Median Rent $1,117 $988 $1,163
Median Income $74,785 $60,516 $69,021
Home Value To Income 2.5x 3.3x 3.5x
Rent To Monthly Income 0.18x 0.2x 0.2x
Search Homes For Sale In Silver Lake, NC
$190,500
Median Home Value
$1,117
Median Rent
$74,785
Median Income

Silver Lake, NC Costs By Category

Detailed Silver Lake Services Costs Vs. North Carolina

Item Silver Lake North Carolina
Shampoo $1.07 $1.06
Movie $10.35 $10.68
Bowling $13.67 $14.67
Haircut $15.0 $18.62
Beauty Salon $42.5 $39.05

Detailed Silver Lake Groceries Costs Vs. North Carolina

Item Silver Lake North Carolina
Ground Beef $4.32 $4.22
Fried Chicken $1.48 $1.39
Milk $2.58 $2.05
Potatoes $4.3 $3.29
Pizza $8.99 $10.62
Beer $9.69 $9.38
Toothpaste $3.23 $2.34

Detailed Silver Lake Health Costs Vs. North Carolina

Item Silver Lake North Carolina
Optometrist $116.4 $108.57
Doctor $121.67 $116.17
Dentist $120.22 $99.13

Detailed Silver Lake Transportation Costs Vs. North Carolina

Item Silver Lake North Carolina
Gasoline $2.5 $2.22
Tire Balancing $63.96 $50.07

Detailed Silver Lake Utilities Costs Vs. North Carolina

Item Silver Lake North Carolina
All Electricity $180.8 $167.67
Phone $177.09 $175.64

Silver Lake SnackAbility

7
/10
Overall SnackAbility
Jobs
8/10
Housing
8
Affordability
8
Diversity
8
Safety
N/A
Amenities
8.5
Education
8
Commute
8.5

Cost Of Living In Cities Around Silver Lake

The cost of living varies in the cities and towns around Silver Lake. Here's a quick look at the cost of living in the most populous nearby places:

  • Wilmington, NC has a cost of living index of 105, 1.1x Silver Lake.

  • Leland, NC has a cost of living index of 103, 1.1x Silver Lake.

  • Murraysville, NC has a cost of living index of 102, 1.0x Silver Lake.

City Population Cost Of Living Vs. Silver Lake
Wilmington, NC 115,976 105 1.1x
Leland, NC 22,794 103 1.1x
Murraysville, NC 15,976 102 1.0x
Myrtle Grove, NC 11,672 111 1.1x
Kings Grant, NC 9,071 97 1.0x
Ogden, NC 8,613 112 1.1x
Porters Neck, NC 7,221 128 1.3x
Carolina Beach, NC 6,456 117 1.2x
Boiling Spring Lakes, NC 5,863 98 1.0x

Articles About North Carolina

Enjoy The Snack?