The cost of living index in Cherryville, NC, reveals a favorable comparison to the nationwide average, which is set at 100. Specifically, Cherryville's overall cost of living is 88, which means residents spend about 12% less than the national average. This advantageous index makes Cherryville an attractive option for individuals considering relocation or those seeking more affordable living arrangements.
Each sector in Cherryville contributes to its overall lower cost of living. Housing costs in Cherryville stand at 78, which is 22% below the national average. Even with slightly higher grocery prices at 92, other categories like utilities, transportation, healthcare, and miscellaneous expenses remain competitive or slightly below average. This balance ensures that residents can enjoy a comfortable lifestyle without the financial strain often associated with higher-cost areas.
Cherryville, North Carolina, offers a cost of living that is notably lower than the nationwide average. The cost of living index for Cherryville stands at 83, which is 17% lower than the national average of 100. This means that, on average, residents in Cherryville spend less on essential expenses compared to those across the country. For example, housing costs in Cherryville are 22% lower than the national average. This significant reduction in housing expenses makes Cherryville an attractive option for those looking to live more affordably.
Additionally, other essential categories such as groceries, utilities, and transportation reflect a similar trend. The groceries index in Cherryville is 92, which is 8% lower than the nationwide average. Utility costs are 10% below the national average at 90, and transportation costs are 15% lower at 85. Even healthcare costs, often a significant expense, are only 5% higher than the national average at 95. Overall, these lower costs make Cherryville a cost-effective place to live, providing more financial flexibility for its residents.
