Cape Carteret, NC vs Mills River, NC

Cape Carteret, NC and Mills River, NC have a very similar cost of living, with only a 1.3% difference in their overall index. Cape Carteret scores 114 while Mills River scores 112 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Cape Carteret is $1,755/month compared to $1,611/month in Mills River — a 9% difference. Interestingly, home values tell a different story: while Mills River has cheaper rent, Cape Carteret actually has lower median home values ($347,500 vs $358,500).

Median household income in Cape Carteret is $75,313 compared to $88,359 in Mills River (-14.8%). Mills River offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Cape Carteret spend roughly 28% of their income on rent, more than the 21.9% in Mills River.