Cost of Living in Gates County, North Carolina
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Gates County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Gates County ranks #945 of 3,144 counties for affordability (top 30%)
Data Story
About Cost of Living in Gates County, North Carolina
Gates affords reasonable rent on modest income
Gates residents spend 18.3% of their $61,612 median income on $940 monthly rent—nearly matching the national affordability benchmark. Though incomes run 18% below the national average, Gates' low rents achieve near-perfect national affordability balance.
Right at North Carolina's affordability average
Gates' rent-to-income ratio of 18.3% sits just below North Carolina's state average of 18.6%, making it a typically-affordable county by state standards. The $940 median rent matches exactly the state average, reflecting rural eastern North Carolina pricing.
Competitive with Edgecombe and Greene
Gates' $940 rent and 18.3% ratio fall between Edgecombe (20.3%, $818) and Greene (19.9%, $845), offering middle-ground affordability for the region. Higher income than Edgecombe ($48,480) gives Gates residents better breathing room despite similar rent levels.
Renters enjoy better affordability than owners
Renters pay $940 monthly while homeowners pay $849—unusual in most markets, suggesting Gates' homeownership carries lower costs. Annual renter housing costs total $11,280, consuming just under one-fifth of median household income.
Reliable affordable option in eastern NC
Gates offers stability for renters seeking affordability without extreme rural isolation, positioned between Edgecombe's challenges and Franklin's prosperity. The county rewards residents with flexibility and near-average affordability, though limited job diversity requires careful employment planning.
Cost of Living Advisory: Gates County
Affordability Verdict
Gates County is affordable for renters, with a median gross rent of $940/month representing approximately 18.3% of median household income. The rent burden (GRAPI) stands at 19.0%.
Rent vs. Own
Renters in Gates County pay $940/month on average, compared to $849/month for homeowners. This market favors buyers by about 10%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $37,600/year. For owner costs at the 28% rule, the required income is roughly $36,386/year. With a median household income of $61,612, most households can comfortably afford rent here. Notably, 19.0% of renter households in Gates County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within North Carolina, Gates County is more affordable than Davie County by roughly 6% ($940/mo vs $889/mo).
Affordability Calculator
See how your income compares to housing costs in Gates County
Rent Burden
18.3%
of gross income
Max Housing (28% Rule)
$1,438
per month
Owner Cost Burden
16.5%
of gross income
You can likely afford the median home in Gates County
Median home value is $163,900. Estimated monthly cost: $1,308 vs. your max of $1,438.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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