Cost of Living in Wanchese, NC

With a cost of living index of 85, Wanchese, NC is a very affordable place to live. Living here is 15% cheaper than the national average and in line with the North Carolina state average. Wanchese is a small community of 1,793 residents.

Housing costs are the biggest factor in Wanchese's cost of living. The median monthly rent is $1,031 (22% below the US median of $1,319), and the median home value sits at $257,100 (16% below the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Wanchese is $73,542, which is 2% lower than the national median of $75,149. Residents spend roughly 17% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.