Salary & Cost of Living in Hickory, NC
Hickory, NC: $43,332 median salary, cost of living index 88.5, $7.25/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$43,332
$21/hr
Cost of Living
88.5
US avg = 100
Minimum Wage
$7.25
per hour
Unemployment
3%
rate
Hickory, NC Overview
Population
44,147
Median Salary
$43,332
Average Salary
$48,532
Avg Commute
17 min
Median Home Price
$266,000
Median Rent
$1,086/mo
Job Growth
+2.7%
Sales Tax
4.75%
Hickory is located in North Carolina with a population of 44,147. The median household salary is $43,332 per year ($21/hour), which is $16,052 below the national median of $59,384. The average commute time is 17 minutes, and the city has a job growth rate of +2.7%.
Hickory Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Hickory, NC, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$34,906
$2,908.82/month · $1,342.53/biweekly · Effective Rate: 19.4%
Gross Pay
$43,332
Federal Tax
-$3,161
State Tax
-$1,950
Local Tax
$0
FICA
-$3,315
Net Pay
$34,906
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $3,611.00 | $43,332.00 |
| Federal Income Tax | -$263.45 | -$3,161.34 |
| North Carolina State Tax (4.5%) | -$162.49 | -$1,949.94 |
| Social Security (6.2%) | -$223.88 | -$2,686.58 |
| Medicare (1.45%) | -$52.36 | -$628.31 |
| Net Take-Home Pay | $2,908.82 | $34,905.82 |
Salary Comparison: Hickory vs Other Cities
See how Hickory's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Hickory, NC | $43,332 | 88.5 | $48,963 |
| National Average | $59,384 | 100 | $59,384 |
| Elkhart, IN | $43,347 | 89.6 | $48,378 |
| Opelika, AL | $43,311 | 77.9 | $55,598 |
| Novi, MI | $43,272 | 91.7 | $47,189 |
| Lauderdale Lakes, FL | $43,406 | 102.8 | $42,224 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Hickory
Hickory's cost of living index is 88.5 (national average = 100). Living in Hickory is 11.5% less expensive than the national average.
Median Home Price
$266,000
Median Monthly Rent
$1,086
Annual Rent Cost
$13,032
Your Salary's Purchasing Power
Your $34,906 annual take-home pay in Hickory has the purchasing power of approximately $39,442 in an average-cost US area. Your $43,332 salary stretches further here than in most US cities.
Top Industries in Hickory
Hickory's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $43,332.
Salary Tips for Hickory Workers
- Your salary goes further here. Hickory has a cost of living 11.5% below the national average. A salary of $43,332 here has the purchasing power of about $48,963 in an average-cost area.
- Research top industries. Hickory's top industries include Banking, Technology, Biotech. Targeting roles in these sectors can help you earn above the $43,332 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Hickory, NC?
The median salary in Hickory, NC is $43,332 per year, or $21 per hour. The average salary is $48,532. This is $16,052 below the national median of $59,384.
What is the cost of living in Hickory, NC?
Hickory's cost of living index is 88.5 (national average = 100), meaning it is 11.5% less expensive compared to the national average. The median home price is $266,000 and the median monthly rent is $1,086.
What are the best industries in Hickory?
The top industries in Hickory, NC include Banking, Technology, Biotech. The city has a job growth rate of 2.7% and an unemployment rate of 3%. Workers in these industries often earn above the city's median salary of $43,332.
How does Hickory's salary compare to other cities?
Hickory's median salary of $43,332 is 27.0% below the national median of $59,384. However, when adjusted for cost of living (index: 88.5), the real purchasing power is approximately $48,963.
What is the minimum wage in Hickory, NC?
The minimum wage in Hickory, NC is $7.25 per hour. This equals approximately $15,080 per year for a full-time worker (40 hours/week). This matches the federal minimum wage of $7.25/hour.