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Posted By Wilmington NC Business Directory Wilmingtonlist on 04-11-2024 1:51 PM

Description

Thinking about packing up and moving to the charming coastal town of Wilmington, North Carolina? Well, you're definitely not alone. This historic port city has become a hugely popular relocation spot in recent years thanks to its beautiful beaches, laidback lifestyle, and relatively affordable cost of living compared to other coastal destinations.

When it comes to the cost of living, it's important to look at the data, but also to hear firsthand accounts from people who have experienced making that transition themselves.

In exploring what it really costs to live in Wilmington, North Carolina, we'll analyze all the essential expenses like housing, food, transportation, and more. But we'll also incorporate valuable insights from locals, transplants, bloggers, and video logs that provide a genuine glimpse into daily life and budgeting realities.

Here is what a person has to share on Wilmington NC cost of living - 

Moved from Long Island to Wilmington about a year ago. I love it. I pay about 1300 for a newish, very dog friendly, 700 sq ft apartment that would go for probably 2800 on the Long Island, and 4k in Manhattan. I'm about 15 minutes to 3 great beaches one way and ten minutes from a fun downtown and boardwalk the other way. On Long Island illegal basement apartments go for more than this, so not sure how people think it's expensive, but different strokes I guess. The big difference for me is I don't need to work right now, so maybe that would change everything. I think minimum wage for example is a crazy low 7.25 an hour as opposed to 15 in NY....... But weather's great here, people are polite and wave to you on the street and they have killer supermarkets and a Trader Joes! (*one thing that was expensive down here was registrating a car. Cost over 400 for the year! )

But just how affordable are we talking? Like any move, crunching some hard numbers on living costs ahead of time is crucial. You don't want any major financial surprises after getting settled. While Wilmington's overall cost of living ranks slightly above the national average, it still clocks in as more affordable than many other places of its size and appeal.

In this guide, we'll break down all the need-to-know expenses - from housing to healthcare to your future grocery bills. Running the numbers now allows you to get a realistic picture of just how far your current paycheck will stretch. So let's dive into the details!

Before that, consider a resident blogger's perspective as well.

Where You'll Be Spending the Most: Housing

In pretty much any city, your biggest monthly outlay will be keeping a roof over your head. Housing expenses like rent or mortgage payments typically make up the bulk of living costs. So how do Wilmington's stack up?

Let's start with renting. According to the latest data, you can expect to pay an average of $874 per month to rent a simple one-bedroom apartment in Wilmington. That's actually a bit lower than the current $949 national average. Not too shabby!

Of course, if you need more space or fancier digs, those costs go up quickly. A typical three-bedroom apartment downtown will run you around $1,562 per month on average. However, you can find some solid three-bedroom options in the $1,200-1,300 range if you don't mind being a little further out from the center.

Median Home Prices

Plenty of people also opt to buy when relocating to Wilmington. The median home price in the area currently sits at $224,300 - a bit higher than the $184,700 national median. That means a reasonable mortgage payment for a three-bedroom place will likely fall somewhere between $1,100-1,500 per month with taxes and insurance included.

Of course, the neighborhood you choose makes a huge difference in pricing. River's Edge and other communities near the Cape Fear River are very desirable, with an average home price around $281,892. On the flip side, if you've got your heart set on the super upscale Arboretum Dr/Pembroke Jones Dr neighborhood, you're looking at average prices over $965,000!

Factor in Utilities Too

No matter if you rent or buy, monthly utilities are an inescapable added cost. The utility breakdown for a single resident in Wilmington averages out to $117 per month to cover electricity, heating, water and garbage. For a family of four, that rises to around $181 monthly.

You'll also need internet and cable/streaming services on top of that. A basic unlimited internet plan from local providers will typically run you in the $60-90 per month range.

So to summarize, here are some typical housing costs for Wilmington:

• One bedroom apartment rent: $874
• Three bedroom apartment rent: $1,200-1,600
• Mortgage for median home: $1,100-1,500
• Utilities for single person: $117
• Utilities for family of 4: $181
• Internet: $60-90

Food: A Tasty But Affordable Expense

Your next biggest monthly outlay will likely be food costs - both groceries and dining out. The good news? Wilmington is quite affordable for a coastal area when it comes to keeping your belly full.

Overall grocery costs in Wilmington come in at just about 3% above the national average prices. For some specific examples at local supermarkets, a gallon of milk averages $2, a dozen eggs around $2.81, and a pound of chicken breasts will be $3.27 or so. Fresh produce is reasonable too, with things like apples and oranges at $2.49/lb and other veggies for $2/lb on average.

You can definitely splurge on some nice items too and not break the bank. A good steak will cost around $6.65/lb, and you can snag a decent mid-priced bottle of wine for under $10. Can't be beat!

The Dining Scene

Of course, part of the fun of living in a vibrant place like Wilmington is taking advantage of the local dining scene from time to time. You'll find a huge range of options, from hip farm-to-table spots to laid-back seafood shacks.

A good rule of thumb is to budget around $7 per person for a quick meal from a basic fast food or takeout joint. A solid sit-down lunch at a casual restaurant will be more like $14.90 per person. Then for dinner with a drink or two at a mid-range place, you're likely looking at $49-55 per couple.

Don't forget about the weekly Riverfront Farmers Market running from March through November! It's a fantastic option for picking up fresh local produce, baked goods, crafts and more. Enjoy the atmosphere and stock up on goodies.

Getting Around: Transportation Costs

Another major monthly expense you'll need to account for is transportation. The costs here are pretty on-par for the region, coming in at around 3% above the national average.

If you'll be driving your own vehicle, budget around $2.50 per gallon for gas. A typical 5-mile rideshare or taxi trip will cost in the $13-15 range. Then basic maintenance like tire rotations or oil changes will be $60-80 at local shops.

For those looking to take public transit, a one-way bus fare on Wilmington's Wave system is just $2. Or you can get an unlimited monthly pass for $80 if you'll be a frequent rider.

When adding it all up, transportation for a single person will likely run $300-400 per month between gas, maintenance, insurance, etc. For a family of four with multiple vehicles, budget around $600-800 to be safe.

Healthcare: The (Slightly) Pricier Side

Unfortunately, healthcare is one area where the costs in Wilmington are a bit higher than the national norms. You'll want to bake these expenses into your budget carefully.

A routine doctor's visit for an established Wilmington patient will cost around $126 out-of-pocket on average. Dentist appointments come in at $120. And getting your eyes checked at the optometrist is $118 typically.

Even smaller costs like a week's worth of standard cold medicine will be inflated at roughly $8.27. So if you or your family has ongoing medical needs, these can really start to add up.

Overall, the latest data shows that healthcare services run approximately 14% higher than the national averages in the Wilmington area. It's a factor to keep in mind, especially for those will be paying out-of-pocket frequently.

Education: Public vs Private

For families relocating with school-aged children, education is obviously a major component of your cost of living calculations. And there can be a massive gulf between public and private school expenses.

If you'll be enrolling kids in Wilmington's public school system, your biggest costs will likely just be related supplies, activities, etc. But private education is a completely different beast financially.

The average tuition for a private Pre-K or Kindergarten program in Wilmington is $950 per month. And if you want to go the international/private school route for older grades, you're looking at over $13,500 per year on average.

Higher Ed: UNCW

Is the prestigious University of North Carolina Wilmington (UNCW) in your future plans? It's a fantastic option, but the cost of attendance is no joke.

For in-state undergrads at UNCW, the total estimated cost covering tuition, housing, meals and fees is $25,812 per year. If you'll be coming from out-of-state, that jumps to $39,920 annually before potential financial aid.

Graduate education is similarly pricey at $26,823 for NC residents or $40,651 per year for non-residents. Definitely factor this into your long-term budget if you or your child have college aspirations!

The Fun Stuff: Entertainment & Recreation

We can't forget to leave room in the budget for having a little fun too! Wilmington has plenty of recreational and entertainment options to help you unwind.

For outdoor adventures, you've got very affordable options like the Inland Greens Golf Course with $8-13 daily fees or $60 monthly memberships. Or you can spend $3/hour to rent tennis courts around town.

The city also has a nice public pool system managed by the YMCA. Entry is just $3 for adults and $1 for kids, with additional fees for things like swim lessons or water aerobics classes. A gym membership at most Wilmington fitness centers will run you around $40-45 per month on average.

For nights out, you're looking at $11-12 per movie ticket. The Cameron Art Museum has fantastic jazz nights on the first Thursday of each month for $30 per ticket ($15 for students/military).

Wilmington is loaded with historical attractions and museums as well. The Battleship North Carolina tour is a must-do for $14 adult admission. The Burgwin-Wright House and colonial-era gardens are $14 for an incredibly fascinating peek into the 18th century.

Of course, many of Wilmington's best entertainment options are completely free! Strolling along the Riverwalk in the historic downtown district never gets old. This iconic boardwalk is lined with restaurants, bars, shops and often lively with street performers. The famed Historic District is another top spot for exploring on foot.

Don't Sleep on Salaries

Before wrapping up, we have to discuss one of the most important factors in calculating the affordability of Wilmington - incomes and salaries. The latest data shows the median household income in the area is $56,134 per year.

While that may not sound like a huge number, it goes a lot further in a relatively affordable place like Wilmington compared to bigger, pricier cities. For some context, you'd need to earn around $148,274 per year in New York City just to maintain the same standard of living as someone making $77,795 (a typical nurse's salary) in Wilmington.

Some other common salary examples from the area:

Bartender: $25,350
Bank Teller: $40,939

Personal Trainer: $48,956
Pharmacist: $121,230
Judge: $100,064

So while salaries trend lower than mega-cities, the cost of living in Wilmington is far more sustainable on an average income in the $50k-$70k range. With smart budgeting, a household can live quite comfortably.

The Bottom Line on Wilmington's Cost of Living

When you tally it all up, a single person can realistically get by in Wilmington on a budget of around $1,600-1,800 per month after rent/mortgage to cover the essentials. For a family of four, that estimated cost rises to around $3,900 month including housing costs.

Those totals factor in all the need-to-haves like housing, utilities, groceries, transport, and healthcare. They even leave a little room for discretionary spending on travel, entertainment, and dining out. Not too shabby at all considering the perks of coastal living!

Of course, your personal cost of living can vary drastically based on factors like:

• Apartment vs. house
• Neighborhood and home size
• Number of vehicles
• Recreational habits
• Medical needs
• And more

But on the whole, Wilmington ranks as quite affordable for the combination of location, amenities, and overall quality of life it provides. As long as your income can reasonably support it, Wilmington is well worth taking a harder look for anyone dreaming of a laidback life by the beautiful North Carolina shore.

If a move is indeed in your future plans, be sure to get quotes from top professional movers in Wilmington well in advance. Miracle Movers would be happy to provide a free moving estimate and handle every last detail of getting you settled into your new beachside home sweet home!