Fayetteville Cost of Living Guide

Fayetteville, North Carolina is known for its affordability, offering residents a lower cost of living compared to both state and national averages. Here's a detailed breakdown of what to expect.

Overall Cost of Living

Fayetteville's cost of living is approximately 6% lower than the national average and comparable to or below the North Carolina state average.

Monthly Budget Estimates (2024-2025):

• Single adult: ~$2,450/month
• Family of four: ~$5,400/month

Housing Costs

Housing represents the biggest savings in Fayetteville, running 29% below the national average.

Rental Prices

| Type | Average Monthly Rent | |------|---------------------| | Studio | $800 - $950 | | 1 Bedroom | $950 - $1,150 | | 2 Bedroom | $1,100 - $1,400 | | 3 Bedroom | $1,300 - $1,700 | | Single Family Home | $1,400 - $2,000 |

Home Prices

• Median home price: ~$225,000
• Price per square foot: ~$130-150
• Property tax rate: ~0.86% of assessed value

Comparison

| City | Median Home Price | |------|-------------------| | Fayetteville, NC | $225,000 | | Raleigh, NC | $425,000 | | Charlotte, NC | $380,000 | | National Average | $420,000 |

Utilities

Utilities run approximately 3% below the national average.

Average Monthly Costs:

• Electricity: $150
• Water/Sewer: $40-50
• Natural Gas: $30-50 (varies seasonally)
• Internet: $60-80
• Total Utilities: ~$280-330/month

Providers:

• Electric: Duke Energy Progress
• Water: PWC (Fayetteville)
• Gas: Piedmont Natural Gas

Transportation

Transportation costs are 6% lower than national averages.

Key Costs:

• Gas: ~$3.00-3.50/gallon
• Car insurance: ~$1,200-1,500/year
• Vehicle registration: $36-40/year
• Vehicle property tax: Based on value

Public Transit: FAST (Fayetteville Area System of Transit) provides bus service throughout the city at affordable rates.

Groceries & Food

Groceries are approximately 5% cheaper than the national average.

Sample Prices:

• Gallon of milk: $3.50
• Loaf of bread: $2.50
• Dozen eggs: $3.00
• Ground beef (lb): $5.50
• Chicken breast (lb): $4.00

Dining Out:

• Fast food meal: $8-10
• Casual dining (per person): $15-25
• Fine dining (per person): $40-60

Healthcare

Healthcare costs are about 6% higher than national averages.

Sample Costs:

• Doctor visit (primary care): $100-150
• Specialist visit: $150-250
• Emergency room visit: $500-1,500
• Monthly health insurance: Varies by plan

Major Healthcare Providers:

• Cape Fear Valley Health System
• VA Medical Center
• FirstHealth (nearby)

Childcare & Education

Childcare Costs:

• Infant care: $800-1,200/month
• Toddler/preschool: $700-1,000/month
• Before/after school care: $300-500/month

Education:

• Public schools: Free (Cumberland County Schools)
• Private schools: $5,000-15,000/year
• Community college: ~$2,500/year in-district

Taxes

Income Tax: North Carolina has a flat income tax rate of 5.25% (as of 2024).

Sales Tax:

• State: 4.75%
• Cumberland County: 2.25%
• Total: 7.0%

Property Tax: Average effective rate of ~0.86%, lower than many comparable areas.

Sample Monthly Budgets

Single Adult

| Category | Amount | |----------|--------| | Housing | $1,100 | | Utilities | $150 | | Food | $400 | | Transportation | $350 | | Healthcare | $150 | | Personal/Entertainment | $300 | | Total | $2,450 |

Family of Four

| Category | Amount | |----------|--------| | Housing | $1,800 | | Utilities | $300 | | Food | $900 | | Transportation | $700 | | Healthcare | $400 | | Childcare | $800 | | Personal/Entertainment | $500 | | Total | $5,400 |

Income Requirements

To live comfortably in Fayetteville:

• Single adult: ~$50,000/year
• Family of four: ~$75,000/year

The median household income in Fayetteville is approximately $56,000.

Cost of Living Tips

1. Shop military commissaries if eligible (significant grocery savings)
2. Use energy-efficient practices to reduce utility bills
3. Consider neighborhoods strategically - prices vary significantly
4. Take advantage of military discounts widely offered
5. Compare insurance rates from multiple providers

Fayetteville offers excellent value for those seeking affordable living without sacrificing quality of life.