Morganton, NC is a small city located in North Carolina. The city is known for its historical sites including the Burke County Courthouse as well as for providing affordable living options to its residents. Rent for a two bedroom home in the area averages at $1,290 per month which is significantly lower than the national average of $1,430. Additionally, the grocery cost index in Morganton is 95 versus 100 in the US, making it an attractive city for those looking for more budget-friendly living conditions. In terms of local companies, Morganton has many shopping opportunities such as Big Lots, Walmart Supercenter and Food Lion while also boasting unique businesses like Black Bear Coffee Co., The Workshop Eatery & Market and Fonta Flora Brewery. All of these serve to make living in Morganton distinct from other places in the US that have higher costs of living.
Morganton has an unemployment rate of 4.4%. The US average is 6.0%.
Morganton has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 37.3%, which is higher than the US average of 33.5%.
Tax Rates for Morganton
- The Sales Tax Rate for Morganton is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Morganton is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Morganton
- The average income of a Morganton resident is $21,976 a year. The US average is $28,555 a year.
- The Median household income of a Morganton resident is $43,103 a year. The US average is $69,021 a year.