Finding Budget-Friendly Places to Live in North Carolina

The cost of living crisis has touched nearly every corner of America, but North Carolina remains a beacon of affordability compared to many states. Ranking as the 24th cheapest state nationally, the state offers a middle ground for those seeking lower housing costs without sacrificing quality of life. Whether you’re planning a relocation or scouting for your first home, several North Carolina cities stand out for their exceptional value.

To identify the most affordable options, we analyzed 2023 data focusing on living expenses, rental prices, home values, and property taxes across cities with populations exceeding 8,000 residents. Here’s what the data reveals about where your money stretches furthest.

The Most Affordable Powerhouse: Eden

At the top sits Eden, a charming city where the cost of living runs nearly 28% below the national average. Positioned at the confluence of the Dan and Smith Rivers, Eden combines small-town affordability with riverside recreation. With roughly 15,300 residents, you get genuine community feel: a median rent of just $649, homes priced around $219,443, and a median household income of $41,746. The outdoor appeal here—fishing, hiking, scenic picnics—adds lifestyle value beyond the price tag.

The Record-Breaker for Home Affordability: Laurinburg

When it comes to actual purchase prices, Laurinburg takes the crown. This university town of 15,242 people west of Fayetteville boasts North Carolina’s lowest median home price at $215,335, with rent averaging $674. Living expenses sit 30% below the national baseline, though household income is modest at $35,776. The trade-off: strong cultural amenities from university influence—festivals, galleries, and nightlife—plus proximity to both mountains and beaches.

The All-Around Value Play: Lumberton

Lumberton emerges as the balanced option, checking multiple boxes simultaneously. Its median rent of $665 ranks among the state’s lowest, matched only by select cities. Home prices average $222,575, property taxes remain reasonable at $685, and overall living costs run 28.5% cheaper than the national norm. Located in the Inner Banks region with 19,186 residents, Lumberton offers outdoor recreation and an interesting geographic advantage—sitting roughly halfway between New York and Florida, ideal for cross-country explorers.

The Rent Champion: Rockingham

For pure rental affordability, Rockingham dominates. This compact city of just 9,200 residents tops the list for lowest median rent at only $552—a figure that stands alone in its budget-friendliness. Home prices are equally competitive at $215,844 (second-lowest statewide). Beyond finances, Rockingham delivers entertainment: hunting, fishing, a noted zoo, the Dragway, and golf facilities create a recreational hub that belies its small size.

The Income-Friendly Alternative: Roanoke Rapids

Roanoke Rapids presents a different appeal. This Roanoke River community of 15,294 offers one of the list’s strongest median household incomes at $43,704—meaning affordability doesn’t sacrifice earning potential. Living costs remain 26.8% below national levels, with median rent at $680 and homes averaging $236,579. This combination creates genuine financial breathing room.

Historic Character at Historic Prices: Tarboro

Tarboro, founded in 1760, embodies North Carolina’s heritage while maintaining modern affordability. Historically a lower-income area, the town has seen household income surge 38.6% since 2019, now reaching $41,281. Rent ($681) and home prices ($219,943) remain comfortably below national averages, with living costs 26.8% cheaper overall. For those valuing history—colonial churches, town commons, established character—Tarboro delivers.

The Raleigh Gateway: Henderson

Just 40 minutes from North Carolina’s capital, Henderson offers metropolitan proximity without big-city pricing. Its 15,084 residents enjoy living costs 28.8% below national standards. The median income of $36,147 is offset by home prices of $258,822 and rent of $668. The Blue Ridge Mountains proximity brings hiking, camping, and biking directly to your doorstep.

Wine Country Affordability: Mount Airy

Mount Airy, situated in North Carolina’s wine and craft beer region, blends cultural appeal with wallet-friendly pricing. Main Street’s nostalgic character comes at a bargain: median homes at $274,796, rent at $594, and living expenses 24.9% cheaper than the nation. Wine enthusiasts and small-town romantics find particular value here.

The Rising Star: Reidsville

Reidsville represents opportunity for those watching emerging markets. This up-and-coming city of 14,463 has invested heavily in revitalization—art galleries, farmers’ markets, museums, and outdoor recreation now dot the landscape. Located within commuting distance to Greensboro, it offers median home prices of $268,803, rent at $668, and living costs 21.9% below national benchmarks.

The Family Destination: Asheboro

Rounding out the top ten, Asheboro stands as one of the largest cities on this list with 26,729 residents. Home to one of the world’s largest natural habitat zoos, it delivers family-friendly attractions alongside 21.3% cost savings versus national averages. Median homes sell for $252,111, rent averages $685, and proximity to both mountains and beaches opens recreational doors.

Making Your Choice

North Carolina’s cheapest cities to live in span small villages to mid-sized towns, each offering distinct character alongside genuine financial advantages. Beyond cost calculations, consider your lifestyle priorities: outdoor recreation preferences, proximity to employment centers, cultural amenities, or community atmosphere. The state’s geographic diversity means whether you crave mountain access, riverside living, or university-town energy, an affordable option awaits. The combination of low housing costs and reasonable living expenses means your income—whatever its level—commands real purchasing power here.