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There are local and neighborhood shuttles and express routes to get around the city. According to Niche, the ranking takes into account many key factors including housing, food, fuel cost, and average tax rates. The rankings were based on data from the Consumer Price Index and the U.S. Aside from your personal expenses and lifestyle habits, you’ll also need to be mindful of macroeconomic items that aren’t within your control – such as inflation, interest rate hikes, and mortgage rate fluctuations. While it’s impossible to predict these types of changes, it’s smart to have a plan in place to minimize their impact on your finances. If you’re a Social Security recipient, for example, your benefit will be updated for inflation as needed, thanks to the annual cost-of-living adjustment (COLA).
Will I have to pay a lot in taxes if I move to Charlotte, North Carolina?
Spectrum is one of the biggest internet service providers in the area, followed by AT&T. If you have your own vehicle, then you will need to factor your commute time into your transportation costs. (Longer commutes mean higher gas usage and more wear on the car.) The average commute time in Charlotte is just over 25 minutes. While Charlotte has a longer commute time than other parts of North Carolina, it is still shorter than the rest of the country, which has an average commute time of 26.6 minutes.
Cost of living calculator
In this guide, we break down the cost of living in Charlotte, from housing expenses to food and healthcare costs. We’ll provide data from the local cost of living index and comparison tools and look at how Charlotte ranks for livability compared to other U.S. cities. Housing is one of the biggest factors that determine the cost of living in Charlotte, NC. The median cost to rent a 2-bedroom apartment is $1,214 while the median home price for a 3-bed, 2-bath home is $307,320.

The Cost of Living in Charlotte, North Carolina
Escarraman said he is weighing a variety of factors in whom he supports politically. Right now, he is concerned about the increase in migration and the money the U.S. government is spending on conflicts overseas, as well as the high cost of living. Niche gives Charlotte an above-average rating when it comes to the city’s public school system, so families with kids have a good shot at finding an excellent school in Charlotte. Zumper's team of rental experts provides you with the latest rental tips, trends, and local laws to help you find great apartments and homes across the country.
If you’re planning on buying a car in Charlotte, gas will be one of your main costs. According to GasBuddy data from May 2019, the average price of a gallon of gas in Charlotte is $3.93. One of most important determinations you need to make before moving to a new city or town is how much it will cost to live there. “Cost of living” is the amount of money you need to sustain a certain lifestyle in a given place.
Charlotte Is a Thriving Financial Hub.
This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. (WITN) - If you’re looking for a new and affordable place to live in Eastern Carolina, Jones County should be on your list. A new ranking from Niche shows Jones County has the second lowest cost of living in the state. Similarly, Florida’s cost of living is just 1 percent lower than the country as a whole, according to RentCafe.
Here’s how much money you need to earn in NC to live comfortably in 2024, report shows - Charlotte Observer
Here’s how much money you need to earn in NC to live comfortably in 2024, report shows.
Posted: Wed, 24 Apr 2024 19:09:03 GMT [source]

He also spends a lot of time talking about his efforts to curb housing and prescription drug costs and eliminate junk fees. Biden has made the economy a central part of his message on the campaign trail, pointing to the strong jobs market and the growth in the infrastructure and semiconductor sectors thanks to legislation he has signed. Overall, MIT estimates, to have a basic living wage, your pre-tax earnings would need to be $45,382 in California; $35,858 in Florida; and $34,127 in Texas. Nothing makes a city feel more like a community than a festival, and by that measure, Charlotte is one big, celebrated community. From film festivals and porch fests to performing arts showcases and food and wine weeks, there are just so many fun opportunities to come together throughout the year.
Healthcare costs in the area are slightly higher than the national average. You can expect to pay about three percent more for a doctor’s visit ($114 on average) or to see a dentist ($98 on average). The cost for a veterinary visit or prescription coverage will also be slightly higher than the rest of the country. Utilities are also lower than the national average by eight percent. The average energy bill is around $153 per month, while the average phone bill is $164 per month.
What major factors should I consider before relocating?
We’ve broken down the top cities in several states, ranked by such factors as affordability, job prospects and safety. Though there are public transit options, extended wait times and limited routes mean many residents choose to drive to get where they need to go. In fact, Charlotte is home to two of the state’s deadliest stretches of road — Interstate 85 (between Brookshire Boulevard and Sugar Creek Road) and Interstate 77 (between Remount Road and Exit 13A). Over and over again, studies have shown how important green space is for mental health and wellness — specifically in cities, where there’s more asphalt than grass. But Charlotte has no shortage of green spots to spread out with a picnic or play a game of frisbee with friends. According to a 2022 report by Stacker, Charlotte ranks number 27 among the 50 U.S. cities with the most green space per capita.
These types of costs may not always be top of mind when putting together a monthly budget, but they’ll inevitably have some impact on your cost of living, so don’t forget to include them. Housing will likely take the largest bite out of your budget, so you must keep your monthly housing costs within certain limits. A cost of living index allows you to directly compare what it costs to live in one area against another, helping you understand how far your money can go in each place. For example, the cost of living in San Francisco is twice that of Twin Falls, Idaho.
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts. See how much you can afford to rent and explore rentals that fit your budget. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns).
Looking ahead, the North Carolina job market is projected to add more than 300,000 new jobs by the end of 2028, and most of those jobs will be created in Charlotte and Raleigh. Other necessities in the 50% “must-have needs” category include groceries, utilities, car payments and healthcare. After all, your paycheck largely determines how much you can afford to spend every month. For this reason, before buying a home, consider how secure you feel in your job. Cost of living indexes typically use numerical values when measuring and comparing affordability, often working with either the national average as a benchmark or a base score of 100 for a specific city. When comparing a new location against the base city, the resulting numerical score indicates where the cost of living will likely be higher or lower between the two locations.
In 2021, American households spent an average of $8,289 on food, or 10 percent of their budget, according to the Consumer Expenditure Survey. But depending on their income, American consumers may spend anywhere from 10.9 percent to 15.8 percent of their annual income on this category. Necessary spending is the money used to cover basic or essential needs, such as housing and food. The term discretionary spending, on the other hand, is used to describe non-essential costs. These might include recreation, entertainment or other items consumers purchase when they have money leftover after necessary expenses are covered.
If you’re looking for slow-smoked barbecue and classic Southern sweet tea, you’ve come to the right place. Foodies rejoice for Charlotte’s food trucks, great restaurants, and outstanding microbreweries. Expect to pay about $13 per meal at a casual dining spot, with dinner for two at a mid-range restaurant coming in around $64. You’ll find some of the best dining options in Fourth Ward, Uptown, South Park, trendy Dilworth, and NoDa. Whatever you do, don’t miss out on the city’s best barbecue joints.