Purchasing power is the amount of goods and services that can be purchased with a unit of currency. Given the disparity of income and cost of living across the U.S., the degree of purchasing power will vary depending on levels of income and living location.
Places with high living expenses will likely negatively impact disposable income, and places with lower living expenses can allow for more flexibility in budgeting and spending.
To find the places in North Carolina where residents have the most purchasing power, SmartAsset released a study measuring income and cost of living data in counties nationwide. The counties where median income most exceeded the cost of living were the ones that ranked the highest in our study.
Check out the top leaders by location in North Carolina below:
| Rank | County, State | Cost of Living | Median Income | Purchasing Power Index |
|---|---|---|---|---|
| 1 | Wake, NC | $46,205 | $80,591 | 63.59 |
| 2 | Union, NC | $46,688 | $80,033 | 61.66 |
| 3 | Cabarrus, NC | $40,999 | $67,328 | 57.02 |
| 4 | Orange, NC | $43,784 | $71,723 | 56.76 |
| 5 | Chatham, NC | $41,220 | $67,031 | 55.99 |
| 6 | Currituck, NC | $43,047 | $69,964 | 55.93 |
| 7 | Davie, NC | $37,325 | $60,434 | 55.53 |
| 8 | Mecklenburg, NC | $41,401 | $66,641 | 54.92 |
| 9 | Moore, NC | $38,699 | $59,963 | 51.04 |
| 10 | Iredell, NC | $39,490 | $60,955 | 50.66 |
The full study results, methodology and interactive map can be found here.