Cost of living in Wilmington, NC?

Wilmington is a growing city and has the population of around 118,000 people. Living in a big city has its pros and cons but usually, a con is that it is very expensive to live in the city. You would think that it would be expensive to live here because Wilmington is also in a great location and offers all kinds of activities like the beach, downtown, Riverwalk, festivals, concerts and much more. This is not the case because Wilmington is actually very cheap to live in compared to the rest of the United States. I have been to Hawaii, California, Maryland and all over the world and I would say that Wilmington is very cheap to live in compared western and northern cities as well as overseas. To give you an idea of the cost of living here I will go over housing, electricity, water, property taxes, groceries, and other miscellaneous things to try to give you an idea of how much it would cost to live here.

 

Housing

I will start off with renting first. If you are thinking about renting then I would take into consideration things like your initial deposit which will be about 200 dollars and moving equipment that you will need. Here are the average renting prices for Wilmington.

 

Studio-$660

 

1 Bedroom- $670

 

2 Bedroom- $853

 

3 Bedroom- $1189

 

4 bedroom- $1440

 

These are the average prices for places to rent here but depending on the location you can see any of these range from $550-$3000 dollars to rent.

 

If you are thinking about buying a house here in Wilmington then you can consider that the median how value here is $197,000 and the average listing price here is $280,000

 

If you are looking for a single-family home in Wilmington then you can expect to pay anywhere from $125,000 for an older nice home to about $500,000 for the newer and nicer homes. It all depends on what you are looking for but Wilmington has all kinds of price ranges for anybody. I was able to buy a nice townhome 3 bedroom and 3 baths in the city for about $110,000 and I am still happy with it.

 

Property taxes in Wilmington are cheap compared to the northern prices that I hear people talk about paying. I pay about $1200 dollars in property taxes on my 2000 SQ FT. I live in the city so I am taxed for the county and the city. If you live outside the city then you can expect to pay less. Here you can expect to pay $1000-$2500 in property taxes if you live in the city. If you live just in the county then you can expect to pay $500-$1500 in property taxes. Here are the tax rates and these are based on the assessed value of the home.

 

New Hanover County- $0.574

Wilmington- $0.485

Combined- $1.059

 

Utilities

Here are is a list of the utilities that I pay per month for a 3 bedroom and 3 baths with three other people

 

Water/sewer- $60

We all generally take one shower a day and we surf a lot so we might take two a day if the occasion calls for it. We pay for trash in our HOA dues but you can expect to add on another $25 for that

 

Electricity- $100-150

This price generally fluctuates but in the winter you can expect to pay less and in the summer you can expect to pay more if you keep the AC running.

 

Cable/internet- $115

We have high-speed internet as well as about 70 channels

 

Phone Bill- $75

We all have cell phones but I have a plan with AT&T, which gives me unlimited everything with 3 Gs of data.

 

Car insurance- $60

 

Groceries- $300

I am able to buy all my essentials and eat healthily. If you are high maintenance and need name brand food then this will probably cost more.

 

Here is a list of other miscellaneous things that might give you an idea of prices in Wilmington:

 

Meal at cookout- $6.50

Burger at Applebee’s- $9.95

Gasoline- $2.25 a gallon

6 pack of Budweiser- $6

Budweiser at a bar-$4

12 pack of Pepsi- $5.78

Bananas- $0.57/lb.

Avocados- $1.79 each

SPAM- $2.67

Haircut at great clips- $13

Ramen- $2.19

Bag of UTZ BBQ chips- $4.29

Raw chicken drumsticks- $5.48 or $1.19/lb.

 

These are just average day-to-day prices that I see and have experienced but this is what I see as the cost of living in Wilmington. These prices may fluctuate but I hope this has helped you get an idea before you move down here. If you have any other questions or concerns then please feel free to email me any of your questions.