Cost of Living in Matthews, NC

Population 29,959 · North Carolina · Data vintage 2023

131

Cost Index
(100 = US avg)

Page updated: April 2026 · Data vintage: 2023 ACS 5-Year

Sources: Census ACS·BLS·NOAA·EPA·Zillow · Methodology

The Matthews cost-of-living profile is closer to the US median than most headline-grabbing metros — typical homes around $407,000, rents near $1,670 a month. The labor market has been unusually tight, with unemployment around 2.2% — below most comparable cities in the state.

Located 9 miles southeast of Charlotte, Matthews falls within that metro's commuting orbit. Median home values run roughly 16% higher than Charlotte's $352,000.

Cost Overview

Housing 133

Rent 127

Scale: 100 = US national average. Green < 90, Red > 110.

About the Cost of Living in Matthews

The median home value in Matthews is $406,800 — 33% above the national median of $305,000. Median rent runs $1,670/month, 27% higher than the national median of $1,314/month. The median household income of $105,579/year is 42% higher than the US median of $74,580. The local unemployment rate is 2.2%, below the national average of 4.8%. North Carolina's top state income tax rate is 4.5% and the combined sales tax is 7.0%. The climate averages highs of 72.3°F and lows of 50.2°F. Overall, Matthews has a cost of living index of 131 versus the US average of 100, meaning it is 31% more expensive.

🏠 Housing

Median Home Value

$406,800

33% above avg

Zillow Home Value

$495,664

Zillow ZHVI

Median Rent

$1,670/mo

27% above avg

Zillow Rent

$1,716/mo

Zillow ZORI

Price-to-Rent Ratio

20.3x

Favors renting

Property Tax Rate

0.8%

Effective rate

HUD Fair Market Rents by Bedroom

Studio

$826

1 BR

$860

2 BR

$1,049

3 BR

$1,384

4 BR

$1,637

Owner-occupied 65.5%

Renter-occupied 34.5%

💰 Estimated Monthly Budget

Rent median rent

$1,670

Groceries national estimate

$400

Utilities local estimate

$88

Transportation local gas prices

$126

Estimated Total $2,284/mo

Estimates based on median data and national averages. Actual costs vary.

🛒 Food & Groceries

National BLS average prices (2023). Local prices may vary.

🥚

Eggs (dozen)

$0.548

🍞

White Bread (lb)

$1.912

🥩

Ground Beef (lb)

$5.61

🚗 Transportation

Avg Commute

27.4 min

1% above avg

Gas Price

$3.145/gal

0% below avg

Work From Home

15.6%

Commute Mode

Drove alone

71.5%

Carpooled

10.4%

Public transit

0.5%

Walked

1.3%

Bicycle

0.0%

Work from home

15.6%

⚡ Utilities

Electricity

$0.176/kWh

0% below avg

📋 Taxes

State Income Tax (flat) 4.5%

Total Sales Tax 7.0%

State rate 4.8%

Avg local rate 2.2%

Property Tax 0.8%

💼 Income & Employment

Median Household Income

$105,579

42% above avg

Per Capita Income

$49,894

Unemployment Rate

2.2%

55% below avg

Poverty Rate

4.0%

Labor Force Participation

65.4%

🎓 Education

Bachelor's degree+ 37.5%

Graduate degree 16.4%

👥 Demographics

Median Age 39.3

Male median age 38.2

Female median age 41.2

🌤 Climate

NOAA 1991–2020 Climate Normals

Avg High

72.3°F

Avg Low

50.2°F

Annual Precip

37.9"

Month	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
High °F	53	57	64	73	80	87	91	89	83	73	63	55
Low °F	32	35	41	49	57	65	69	68	62	50	40	34
Precip"	3.00	2.77	3.19	2.90	2.89	3.73	3.63	3.79	3.18	2.97	2.91	2.96

💨 Air Quality

EPA AQS 2023 — county-level monitoring data

Median AQI 51 — Moderate

47.7%

Good air days/yr

150

Max AQI recorded

214

PM2.5 days

149

Ozone days

Frequently Asked Questions

What is the cost of living in Matthews, NC?

Matthews has a cost index of 131 (100 = national average). It is 31% above the national average.

What is average rent in Matthews, NC?

The median gross rent in Matthews is $1,670 per month based on 2023 Census data.

What is the average home price in Matthews?

The median home value in Matthews is $406,800 according to Zillow and Census data.

What is the median income in Matthews?

The median household income in Matthews is $105,579 per year (2023 ACS 5-year estimates).

What is the sales tax in Matthews, NC?

The combined state and local sales tax rate in Matthews is 7.0%. The North Carolina state income tax top rate is 4.5%.

Is Matthews, NC affordable?

Matthews is above average in cost of living, with an index of 131 — about 31% higher than the national average.

What is the weather like in Matthews?

Matthews has average high temperatures of 72.3°F and average lows of 50.2°F. Annual precipitation is 37.9". Data from NOAA 1991–2020 Climate Normals.

Matthews at a Glance

Population: 29,959
Median Income: $105,579
Home Value: $406,800
Median Rent: $1,670/mo
Unemployment: 2.2%
Avg High Temp: 72.3°F
Sales Tax: 7.0%

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