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Cost of Living in New Hanover County

Is it better to rent or buy in New Hanover County? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$83,133
$1,498/mo

Median in area: $1,498

$400,016

Median in area: $400,016

$80,003

If you Rent

🔑
$1,638 /mo
Base Rent$1,498
Est. Utilities$140
% of Income23.6%
Pre-tax Residual$5,290

If you Buy

🏠
$3,038 /mo
P&I (6.951%)$2,119
Taxes & Ins$779
Est. Utilities$140
% of Income43.8%
Pre-tax Residual$3,890

Compare Nearby Areas

See how New Hanover County stacks up against neighboring areas.

countyPender County, NC
$1,405/mo
countyBrunswick County, NC
$1,422/mo

Cost of Living FAQs

Is it cheaper to rent or buy in New Hanover County?›

Based on median housing data, renting is currently more affordable on a monthly basis in New Hanover County. The estimated all-in monthly cost for renting is $1,638, while owning a median-priced home with a 20% down payment is roughly $3,038 per month (a difference of $1,400).

How much do utilities cost in New Hanover County?›

The average monthly utility cost (electricity and natural gas) for a typical home in New Hanover County is approximately $140. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in New Hanover County?›

To comfortably afford the median rent and utilities in New Hanover County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $65,520 per year.