These NC counties are among the most affordable — if you’re rich, study finds
Two Triangle counties are the most affordable places in North Carolina for people who live there, a new study finds.
Wake and Orange top a list of counties where residents “can get the most out of their money,” according to results from the financial website SmartAsset.
Several other Raleigh- and Charlotte-area counties also led the rankings, including Union at No. 4, Mecklenburg at No. 6, Cabarrus at No. 7, Chatham at No. 8 and Iredell at No. 10, according to the findings released this month.
To create its list, SmartAsset says it weighed median income and cost of living for one-adult households.
In North Carolina, the places with the lowest costs of living lie in the southern part of the state as well as near the Virginia border, a map from SmartAsset shows. But the residents with the highest median incomes are mostly near the northeastern coast and the state’s two largest cities, according to the study.
Findings show Wake County residents have the “most purchasing power” in the state. They face $45,528 in costs but take in a median income of $73,577, according to SmartAsset.
But Wake officials say about “56,000 working families who make less than $39,000 a year in Wake County are currently unable to find affordable housing.” The county has created a plan to help fill in that gap.
Mecklenburg County, home to Charlotte, is among the areas also tackling housing prices, The Charlotte Observer reported.
In SmartAsset’s study, other counties making it into the 10 for affordable living include Camden at No. 3, Currituck at No. 5 and Davie at No. 9, results show.
