Top 10 Cheapest Places To Live in North Carolina (2023)

North Carolina is a fantastic place to reside in, thanks to its pleasant climate, welcoming ambience, breathtaking beaches, and stunning views of the Blue Ridge Mountains. However, finding a suitable area within your budget can be a challenge. Fortunately, this report is here to guide you in your search for an affordable city to call home. It highlights the cheapest places to live in NC in 2022, making your decision-making process much more manageable.

Cheapest Places To Live in North Carolina (2023)

1. Hamlet

Hamlet, North Carolina, is known for being the most budget-friendly place to live. It’s a small town located about 45 minutes away from Fort Bragg, which offers a relaxed and laid-back lifestyle, making it perfect for retirees and anyone looking for a slower pace of life. Although it may not have all the amenities of a big city, Hamlet is in the heart of North Carolina’s best beaches and mountains, making it an ideal location for a peaceful retreat. The average home price in Hamlet is around $107k, and the rental rates for a one-bedroom living space average at approximately $425, making it an affordable place to live in the entire state.

2. Eden

Eden, a historic town near the northern border of North Carolina, is the second most affordable place to live in the state. Once a hub for textile mills and manufacturing, Eden is now part of the Greensboro-High Point Metropolitan Statistical Area and offers a tranquil lifestyle for its residents. Retirees, in particular, are drawn to the city’s low cost of living, reduced home prices, and convenient commute to Greensboro. Eden boasts a remarkable selection of local parks and other outdoor activities, which make it a true southern paradise.

3. Tarboro

Tarboro, located in eastern North Carolina, is another affordable place to live. The city’s historical significance as a river port during the Civil War has given way to a more tightly-knit community emphasizing art and culture. Tarboro residents enjoy various museums, art exhibits, concerts, and outdoor festivals in a friendly, easy-going atmosphere. The city also boasts generally safe neighbourhoods and some of the lowest home prices in North Carolina, making it an ideal place for families to have fun on a budget.

4. Fayetteville

Fayetteville, North Carolina, has gained a reputation as a military town and is also recognized as one of the most affordable cities to live in the state. The city is diverse and picturesque, and it is home to Fort Bragg Army Base, which houses several essential units such as the Army’s XVIII Airborne Corps, 82nd Airborne Division, the U.S. Army Special Operations Command, and the 3rd Special Forces Group. As a result, Fayetteville’s military presence significantly bolsters Fayetteville’s economy, and many of its residents are military personnel and their families. Beyond the military, the city has a thriving job market and a well-rounded education system. Although rents may be slightly higher than in other areas, Fayetteville’s affordable housing prices and overall low cost of living make it a highly affordable city to reside in, and it is regarded as one of the cheapest cities in North Carolina.

5. Asheboro

Asheboro, a charming town in the heart of North Carolina, offers a peaceful lifestyle at an affordable cost. Despite not being the tiniest city in the state, Asheboro boasts a population of just 27,000 people who appreciate the area’s rich history and stunning landscapes. The town offers various local amenities, such as the North Carolina Zoo, Four Saints Brewing Company, North Carolina Aviation Museum, Collector’s Antique Mall, and Birkhead Mountains Wilderness. Moreover, with its breathtaking fall foliage, residents can enjoy the town’s natural beauty every season. Asheboro’s real estate market is also affordable, with low home prices and rental rates, making it a great place to call home for those seeking beauty and affordability.

6. Thomasville

Thomasville is an ideal location for business professionals and commuters who are looking for affordable housing. Located just a short drive from High Point, Lexington, Winston-Salem, and downtown Greensboro, residents have access to various job opportunities and city amenities. The suburb boasts several local attractions, including the Museum of Old Domestic Life, Furniture Discovery Center, High Point Museum & Historical Park, and Tanglewood Park. This makes it an excellent spot for family fun. In addition, Thomasville offers some of the state’s best golf courses, festivals, and fairs. With home prices and rental rates lower than the state and national averages, Thomasville is considered one of the most budget-friendly places to live in North Carolina.

7. Greenville

Greenville, also known as the “Emerald City” for its tree-lined streets, is another affordable city in North Carolina. It is home to the third-largest university in the state, East Carolina University, renowned for its Brody School of Medicine. Apart from education, Greenville’s economy is driven by pharmaceutical manufacturing, lumber, and millwork, and it boasts several significant employers, such as Old Dominion Freight Line, Kellcor USA Limited, and Lexington Home Brands. With home prices and rents below the state and national averages, Greenville is an affordable option for both renters and homebuyers.

8. Burlington

Burlington, initially known for its thriving railroad manufacturing and repair industry, has transformed into one of the most affordable cities in North Carolina. With a population of approximately 60,000, the city is rapidly growing. The residents of this charming town have a deep appreciation for history and nature conservation, and visitors can enjoy the local attractions such as the Conservators Center, Cedarock Park, City Park, and Glencoe Mill Village. Sports enthusiasts can also catch a game at the Burlington Athletic Stadium, the home field for the minor league Burlington Royals and the major league Kansas City Royals. Overall, Burlington is an affordable city that has something to offer everyone.

9. Lexington

Lexington is renowned for its “Lexington style” barbecue and is often called the “Barbecue Capital of the World.” But, beyond the finger-licking good food, this city is also home to some of North Carolina’s most breathtaking scenery. With easy access to the state’s stunning beaches, picturesque mountain drives, and numerous rivers and lakes, Lexington is a magnet for outdoor enthusiasts who love boating, fishing, and relaxing by the waterfront. The area is also known for its local wineries and vineyards, which add to the already beautiful North Carolina landscape. Although tourism may impact the rental market, home prices remain relatively low, making Lexington an affordable option for homebuyers.

10. Greensboro

Greensboro, North Carolina, is not only an affordable city to live in but also an emerging one. The city offers many local attractions, such as athletic venues, hiking trails, and outdoor parks, catering to its diverse residents. Greensboro has a flourishing job market, with top employers like Wrangler, Mack Trucks, The Fresh Market, VF Corporation, and Guilford County Schools. For those seeking higher education, Greensboro has several universities in the area. While rents may be slightly higher, Greensboro’s low home prices make it an ideal location to find affordable housing.

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