Cost of Living in Hope Mills, NC is
-1.1% Lower
than the National Average

Did the Cost of Living in Hope Mills, NC increase in 2024? Hope Mills, NC area prices were up 1.5% from a year ago. The largest increases were found in Transportation, Food, and Housing.
By using Salary.com's Cost of Living Calculator, you can make a cost of living comparison of the Consumer Price Index (CPI) and salary differentials of over 300+ US cities. Let us help you make an informed decision about what it will cost to live and work in the city of your dreams!
About Hope Mills, North Carolina    Hope Mills is a town in Cumberland County, North Carolina, United States. The population was 15,176 at the 2010 census. Hope Mills is located in weste....More
The federal minimum wage is $7.25 per hour while North Carolina's state law sets the minimum wage rate at $7.25 per hour in 2024. Demands for a living wage that is fair to workers have resulted in numerous location-based changes to minimum wage levels. View future changes in the minimum wage in your location by visiting Minimum Wage Values in Hope Mills, NC

Cost of Living Calculator



Cost of Living in other Major Cities

City, State Compared to national average
City, State San Francisco, CA Compared to national average
+ 86.5%
City, State Washington, DC Compared to national average
+ 45.2%
City, State Miami, FL Compared to national average
+ 15.4%
City, State Chicago, IL Compared to national average
+ 12.4%
City, State Boston, MA Compared to national average
+ 53.1%
City, State New York, NY Compared to national average
+ 77.0%
City, State Dallas, TX Compared to national average
+ 7.0%

Cost of Living Hope Mills, NC by Expense Category

Category Compared to national average
CategoryEnergy Compared to national average
-5.1%
CategoryFood Compared to national average
-1.0%
CategoryHealthcare Compared to national average
-12.6%
CategoryHousing Compared to national average
-42.6%
CategoryTransportation Compared to national average
-4.1%

Cost of Living Comparison with Hope Mills, NC

If you move to Hope Mills from one of these cities, you would have these the changes of your cost of living.


Move From Move To Cost Of Living Comparison
Move FromSan Francisco, CA Move ToHope Mills, NC Cost Of Living Comparision
-87.6%
Move FromWashington, DC Move ToHope Mills, NC Cost Of Living Comparision
-46.3%
Move FromMiami, FL Move ToHope Mills, NC Cost Of Living Comparision
-16.5%
Move FromChicago, IL Move ToHope Mills, NC Cost Of Living Comparision
-13.5%
Move FromBoston, MA Move ToHope Mills, NC Cost Of Living Comparision
-54.2%
Move FromNew York, NY Move ToHope Mills, NC Cost Of Living Comparision
-78.1%
Move FromDallas, TX Move ToHope Mills, NC Cost Of Living Comparision
-8.2%

Based on this cost of living comparison, you can see:
If you move from Chicago IL, Dallas, TX, or Miami, FL, the percent increase of your cost of living could be 22.8%, 37.8%, and 24.8%. Looks like this move could have a negative net change in disposable income, so please think carefully!
If you move from New York, NY, San Francisco, CA, or Washington, DC, the percent reduction of your cost of living could be -43.50%, -23%, and -20.10%, that's good news to you that you could be looking at a positive net change in disposable income.


About Hope Mills, NC

Hope Mills is a town in Cumberland County, North Carolina, United States. The population was 15,176 at the 2010 census. Hope Mills is located in western Cumberland County at 34°58′14″N 78°57′24″W / 34.97056°N 78.95667°W / 34.97056; -78.95667 (34.970679, −78.956603), south of Fayetteville, the county seat. The town center is next to a dam on Little Rockfish Creek, forming Hope Mills Lake. Little Rockfish Creek flows southeast to Rockfish Creek, a tributary of the Cape Fear River. North Carolina Highway 59 (Main Street) runs through the center of the town, leading north 5 miles (8 km) to U.S....
Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia


Comments about the Cost of Living in Hope Mills, NC

Rent vs Buy: Renting could be the better choice for a lower cost of living

The largest contributor to any cost of living estimate is housing. In North Carolina, the cost of renting a home could be about the same as purchasing one, but may still be the better overall option for you. Renting generally has fewer up-front costs. If you hate the idea of having to spend time or money on yard maintenance, renting could be a better fit for you. Utilities are often included as part of the rent and may help to reduce your energy budget. Renting may also offer on-site amenities like a fitness center, pool, play area or tennis courts that would be out of reach if you were to purchase a home. Wrapping those expenses into your rent could potentially leave you with more disposable income and a lower cost of living. Renting can give you a chance to experience a new location before making the major commitment of buying a home. ( 2024-09-25 salary.com )

Healthcare access and affordability and your cost of living

North Carolina is ranked number 37 out of all states in overall healthcare access and affordability. Healthcare costs make up a significant part of the cost of living. The ability to afford healthcare as well as the ability to access care are key indicators of how much you will be paying for this important resource if you move to another state. Affordability is generally measured by the rates set for insurance coverage in a state, as well as the out-of-pocket expenses that need to be paid by you when receiving the care. If rates or out-of-pocket expenses are high, your cost of living will increase. Access to healthcare is how easy or difficult it may be to receive the care. Access is measured by identifying barriers that might prevent the delivery of care such as the inability to obtain insurance coverage, having to travel long distances to health care centers and lack of sufficient facilities and/or healthcare professionals. The timeliness of care, how fast you can get to see a healthcare provider, is another important measure. ( 2024-09-25 salary.com )



Cost of Living Frequently Asked Questions

What is a Cost of Living index and how is it used?

In the simplest terms, a Cost of Living index is the estimated amount that represents the cost of the basic necessities required for an individual to live. A cost of living or COL estimate may typically include estimates for housing, food, energy, medical care, transportation, taxes, and other necessities. A COL index may be used to measure what the cost difference would be for a person living in a certain location compared to another location. This cost of living comparison helps individuals make decisions about where they would like to live and what they can afford based on the costs in that location. A cost of living comparison can provide guidance about how an increase or decrease in these basic living expenses impacts necessary spending for an individual or a family. ( 2024-09-25 salary.com )

What factors are included in estimating your cost of living?

The Salary.com cost of living calculator estimate is based on data related to five general categories: housing, food, healthcare, transportation, and energy. These are the universally recognized core components of any cost of living estimate and represent those expenses that apply to everyone. Obviously, there may be other factors that could contribute to your particular cost of living situation and not everyone has the same spending habits. For example, education and/or childcare costs might not apply to everyone, but for those who have those expenses, they could be significant and should be considered when you evaluate your cost of living comparison. ( 2024-09-25 salary.com )

The Salary.com cost of living calculator is unique in that it also incorporates current salary data for thousands of jobs specific to a chosen home or work location to provide a more refined estimate of the cost of living variations. You can see how your job and your salary will be impacted by a change of location. If you live in one location but work in another, the cost of living calculator will make those adjustments to provide an accurate estimate of the change in COL. The Salary.com cost of living calculator helps you to make cost of living comparisons cost comparisons easily and quickly. ( 2024-09-25 salary.com )

See how much you can get when it is an hourly pay

Use our Salary Converter Tool, a user-friendly resource designed to see how much your salary will be if converted into hourly/weekly/biweekly/monthly/yearly pay. With just a few clicks, you can gain valuable insights into your earning potential, ensuring you make informed financial decisions.

See how much you can get when it is a yearly pay

Use our Salary Converter Tool, a user-friendly resource designed to see how much your salary will be if converted into hourly/weekly/biweekly/monthly/yearly pay. With just a few clicks, you can gain valuable insights into your earning potential, ensuring you make informed financial decisions.


Last Update: 2024-09-25