Lake Norman of Iredell, NC

Very High · 176

North Carolina · Population 12,496 · Updated March 2026

$1,272
Median Rent / Month
$194,519
Median Income
$839,900
Median Home Value
$2,684
Owner Costs / Month

Affordability

How far your income goes in Lake Norman of Iredell

7.8%
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

$15,264
Annual Rent
$8,753
State Income Tax
$6,719
Property Tax (est.)

Cost of Living Overview

Lake Norman of Iredell has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 176 (where 100 equals the national median), Lake Norman of Iredell residents can expect to pay median rent of $1,272/month while earning a median household income of $194,519/year.

The median home value in Lake Norman of Iredell, NC is $839,900, with typical monthly owner costs around $2,684 including mortgage, insurance, and taxes. The median rent-to-income ratio of 7.8% 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 Lake Norman of Iredell.

Frequently Asked Questions

Common questions about living costs in Lake Norman of Iredell

What is the cost of living in Lake Norman of Iredell, NC?
The cost of living index in Lake Norman of Iredell, NC is 176 (US average = 100). Median monthly rent is $1,272, median household income is $194,519/year, and the median home value is $839,900.
Is Lake Norman of Iredell, NC affordable?
No, Lake Norman of Iredell is more expensive than the national average with a cost index of 176. The rent-to-income ratio is 7.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lake Norman of Iredell, NC?
The median gross rent in Lake Norman of Iredell, NC is $1,272 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,264.
What is the median household income in Lake Norman of Iredell?
The median household income in Lake Norman of Iredell, NC is $194,519 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%.