Cost of Living in Chimney Rock Village, NC

With a cost of living index of 104, Chimney Rock Village, NC is somewhat more expensive than average. Living here is 4% more expensive than the national average and 19% above the North Carolina state average of 84. Chimney Rock Village is a small community of 131 residents.

Housing costs are the biggest factor in Chimney Rock Village's cost of living. The median monthly rent is $1,317 (0% below the US median of $1,319), and the median home value sits at $361,100 (18% above the national median of $304,900). At current prices, the median home costs roughly 5.3x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Chimney Rock Village is $67,656, which is 10% lower than the national median of $75,149. Residents spend roughly 23% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Asheville, NC (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.