Cost of Living in Mount Gilead, NC

With a cost of living index of 75, Mount Gilead, NC is a very affordable place to live. Living here is 25% cheaper than the national average and 9% below the North Carolina state average of 84. Mount Gilead is a small community of 1,166 residents.

Housing costs are the biggest factor in Mount Gilead's cost of living. The median monthly rent is $1,014 (23% below the US median of $1,319), and the median home value sits at $141,700 (54% below the national median of $304,900). At current prices, the median home costs roughly 2.4x the median household income — well within traditional affordability guidelines.

The median household income in Mount Gilead is $58,281, which is 22% lower than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.