Albemarle, NC

Very Low · 60

North Carolina · Population 16,527 · Updated March 2026

$856
Median Rent / Month
$52,825
Median Income
$186,100
Median Home Value
$870
Owner Costs / Month

Affordability

How far your income goes in Albemarle

19.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in North Carolina

State-level tax rates that affect your costs

4.5%
Income Tax (Top Rate)
4.75%
Sales Tax
0.8%
Property Tax Rate

Estimated Annual Costs

$10,272
Annual Rent
$2,377
State Income Tax
$1,489
Property Tax (est.)

Cost of Living Overview

Albemarle is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 60 (where 100 equals the national median), Albemarle residents can expect to pay median rent of $856/month while earning a median household income of $52,825/year.

The median home value in Albemarle, NC is $186,100, with typical monthly owner costs around $870 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

North Carolina has a moderate income tax rate of 4.5%. Combined with a 4.75% sales tax rate and 0.8% effective property tax rate, the overall tax environment is a factor in the total cost of living in Albemarle.

Frequently Asked Questions

Common questions about living costs in Albemarle

What is the cost of living in Albemarle, NC?
The cost of living index in Albemarle, NC is 60 (US average = 100). Median monthly rent is $856, median household income is $52,825/year, and the median home value is $186,100.
Is Albemarle, NC affordable?
Yes, Albemarle is more affordable than the national average with a cost index of 60. The rent-to-income ratio is 19.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Albemarle, NC?
The median gross rent in Albemarle, NC is $856 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,272.
What is the median household income in Albemarle?
The median household income in Albemarle, NC is $52,825 per year. This compares to the national median of approximately $80,000.
What are the taxes like in North Carolina?
North Carolina has a top income tax rate of 4.5%, a sales tax of 4.75%, and an effective property tax rate of 0.8%.