Skip to Search Skip to Live Player Skip to Content Skip to Footer

You Can Live on Less Than $2,000 in These North Carolina Cities

Author Anne Erickson
Getty Images / Sean Pavone

The cost of living can be astronomical in certain areas of the country, including in North Carolina. That’s especially true if you want to buy a house or rent a nice place. So, is there anywhere in America that you can comfortably live on $2,000 a month anymore? Apparently, and thankfully, the answer is yes in North Carolina. There’s a new study out that highlights the best areas of the country where you can get by on less than $2,000 a month. So, let’s get into it.

The research is from GoBankingRates.com. They looked at North Carolina’s affordability, livability and other factors. Their study is actually on the best cities to retire on $2,500 or less per month. But, if you are still working, it applies, too. Then, they dwindled it down to six cities, and two of them, you can actually live on less than $2,000 a month. “North Carolina has long attracted residents-to-be with its top-notch universities, thriving economy and gorgeous natural scenery,” they explain. “In 2022, it was named America’s Top State for Business by CNBC.”

Before we get to North Carolina, let’s look at the No. 1 city in America, not just the East Coast, to live on less than $2,000 a month, via a separate study also done by GoBankingRates. It’s Lake Charles, Louisiana. There, GOBankingRates calculates that the monthly expenditures are $1,566.43, the 2022 average one-bedroom Rent is $696.33, the livability is 70, the monthly grocery cost is $407.13 and the monthly healthcare cost is $462.97.

Now, let’s get to North Carolina. The two cities where you can live on $2,000 or less per month are Greensboro and Concord. In Greensboro,
monthly expenditures are $1,919 and the livability rating is 83. For Concord, the monthly expenditures are $1,911 and the livability rating is 66. “Greensboro is also known as Tournament Town, in light of its abundance of athletic venues,” they note. Find the full list of top North Carolina cities where you can live for under $2,500 a month here.

Do You Have More or Less in Your 401K Than Most People Your Age?

  • Under 25 years old

    In this age group, the average 401K balance is $5,236 and the median is $1,948. You’re obviously just getting your feet wet in investing. Some people fresh out of high school or college probably don’t have anything in their 401Ks at this point.

  • Between 25-34

    In this age group, the average 401K balance is $30,017 and the median is $11,357. This is significantly higher than the under 25 age range. But, it’s definitely not enough to retire on. So, keep grinding.

  • Between 35-44

    In this age group, the average 401K balance is $76,354 and the median is $28,318. Notice the big difference between average and median. Obviously, with the median, that means half of people in that age group have less than $28,318 and half have more.

  • Between 45-54

    In this age group, the average 401K balance is $142,069 and the median is $48,301. This is another one where the average and median are very different. Half of people in that age group have less than $48,301 and half have more.

  • Between 55-64

    In this age group, the average 401K balance is $207,874 and the median is $71,168. Some people “early retire” in this age group. But, only if you have enough cash. People with pensions are sometimes able to retire in this age group. Also, you can receive Social Security retirement benefits as early as age 62.

  • 65 and older

    In this age group, the average 401K balance is $232,710 and the median is $70,620. Since you can receive Social Security retirement benefits as early as age 62, many people do choose to retire when they hit 65.

  • The average and median 401(k) balance by age

    So, there you have it, the average and median 401K balance by age. The stats are from Vanguard’s “How America Saves 2023” report, which offers data on the average and median 401K account balances by age. Find the full report here.

    Happy Senior Old Retired Couple Walking Holding Hands on Beach at Sunset

    Getty Images / dmbaker

Anne Erickson started her radio career shortly after graduating from Michigan State University and has worked on-air in Detroit, Flint, Toledo, Lansing and beyond. As someone who absolutely loves rock, metal and alt music, she instantly fell in love with radio and hasn’t looked back. When she’s not working, Anne makes her own music with her band, Upon Wings, and she also loves cheering on her favorite Detroit and Michigan sports teams, especially Lions and MSU football. Anne is also an award-winning journalist, and her byline has run in a variety of national publications. You can also hear her weekends on WRIF.

Sign me up for the Kiss 95.1 email newsletter!

Make sure you're not missing out on anything at Kiss 95.1 and become an exclusive VIP member. Enjoy all the perks and get exclusive insight into music news, contests, and more!

*
*
By clicking "Subscribe" I agree to the website's terms of Service and Privacy Policy. I understand I can unsubscribe at any time.
Author Anne Erickson
Category:

More Human Interest

Load More