Elizabeth, NC

Very Low · 73

North Carolina · Population 18,740 · Updated March 2026

$1,111
Median Rent / Month
$50,947
Median Income
$202,100
Median Home Value
$1,112
Owner Costs / Month

Affordability

How far your income goes in Elizabeth

26.2%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

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

$13,332
Annual Rent
$2,293
State Income Tax
$1,617
Property Tax (est.)

Cost of Living Overview

Elizabeth is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 73 (where 100 equals the national median), Elizabeth residents can expect to pay median rent of $1,111/month while earning a median household income of $50,947/year.

The median home value in Elizabeth, NC is $202,100, with typical monthly owner costs around $1,112 including mortgage, insurance, and taxes. With a rent-to-income ratio of 26.2%, Elizabeth falls within the generally affordable range, though it's approaching the 30% burden threshold.

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 Elizabeth.

Frequently Asked Questions

Common questions about living costs in Elizabeth

What is the cost of living in Elizabeth, NC?
The cost of living index in Elizabeth, NC is 73 (US average = 100). Median monthly rent is $1,111, median household income is $50,947/year, and the median home value is $202,100.
Is Elizabeth, NC affordable?
Yes, Elizabeth is more affordable than the national average with a cost index of 73. The rent-to-income ratio is 26.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Elizabeth, NC?
The median gross rent in Elizabeth, NC is $1,111 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,332.
What is the median household income in Elizabeth?
The median household income in Elizabeth, NC is $50,947 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%.