Median rent is 23% lower in Concord ($1,365/mo vs $1,779/mo). Buying is cheaper in Concord, where the median home runs $327,600 versus $751,700. Households earn more in Concord ($84,752 vs $79,713 a year). Taken together, Concord is the more affordable choice with a cost index of 96.8 against 113.0 — about 14% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Concord, NC.
Quick verdict
Concord is 14% cheaper overall
Cost index: 96.8 in Concord vs 113.0 in New York (US average = 100)
City A
Concord, NC
City B
New York, NY
How much would you need to earn in New York, NY to maintain your standard of living from Concord, NC?
Equivalent salary in New York, NY
$87,553
You'd need $12,553 more (17% higher).
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Concord
North Carolina
New York
New York
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Concord — median rent of $1,365/mo versus $1,779/mo in New York, a 23% difference. Home buyers face a steeper market in New York: the median home is $751,700 versus $327,600 in Concord — 56% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
North Carolina's top income tax rate is 4.50% versus 10.90% in New York, so Concord is more tax-friendly for high earners. Sales tax is 4.75% in North Carolina and 4.00% in New York; New York has the lower rate (local add-ons may apply in both).
Concord
Income tax: 4.50%
Sales tax: 4.75%
New York
Income tax: 10.90%
Sales tax: 4.00%
Air quality data is available for New York (avg AQI 61.0) but not yet for Concord.
Pick Concord if you prioritize lower overall cost of living (index 96.8 vs 113.0).
Pick Concord if you prioritize higher median household income ($84,752/yr).
Pick Concord if you prioritize cheaper rent ($1,365/mo median).
Pick Concord if you prioritize lower state income tax (4.50%).
Is Concord cheaper than New York?
Concord is cheaper overall, with a cost of living index of 96.8 versus 113.0 (US average = 100). That means prices run about 14% lower in Concord.
How much is rent in Concord vs New York?
Median rent is $1,365/mo in Concord, NC and $1,779/mo in New York, NY. Concord, NC has the lower rent by about 23%.
Which has higher salaries — Concord or New York?
Median household income is $84,752 in Concord, NC and $79,713 in New York, NY. Concord, NC has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Concord or New York?
North Carolina's top income tax rate is 4.50% and New York's is 10.90%. Concord, NC has the lower rate.
What salary do I need in New York to match my Concord income?
To maintain the same purchasing power, a salary of $100,000 in Concord, NC is equivalent to roughly $116,738 in New York, NY (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology