Matthews, NC

Above Avg · 120

North Carolina · Population 29,959 · Updated March 2026

$1,670
Median Rent / Month
$105,579
Median Income
$406,800
Median Home Value
$1,599
Owner Costs / Month

Affordability

How far your income goes in Matthews

19.0%
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

$20,040
Annual Rent
$4,751
State Income Tax
$3,254
Property Tax (est.)

Cost of Living Overview

Matthews has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 120 (where 100 equals the national median), Matthews residents can expect to pay median rent of $1,670/month while earning a median household income of $105,579/year.

The median home value in Matthews, NC is $406,800, with typical monthly owner costs around $1,599 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.0% 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 Matthews.

Frequently Asked Questions

Common questions about living costs in Matthews

What is the cost of living in Matthews, NC?
The cost of living index in Matthews, NC is 120 (US average = 100). Median monthly rent is $1,670, median household income is $105,579/year, and the median home value is $406,800.
Is Matthews, NC affordable?
No, Matthews is more expensive than the national average with a cost index of 120. The rent-to-income ratio is 19.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Matthews, NC?
The median gross rent in Matthews, NC is $1,670 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $20,040.
What is the median household income in Matthews?
The median household income in Matthews, NC is $105,579 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%.