What Is The Cost Of Living In Charlotte Nc?

What Is The Cost Of Living In Charlotte Nc?

January 4, 2023 Off By Juliet D'cruz

Do you know how much the cost of living in Charlotte Nc is? If you don’t know then don’t worry, we will give you the average cost of living in Charlotte Nc through this article. Before knowing the cost of living in Charlotte, Nc, let’s know about Charlotte. Charlotte is a city located in North Carolina, United States. The city is popular because it is home to the Carolina Panthers of the NFL, the Charlotte Hornets of the NBA, the NASCAR Hall of Fame, and the United States National Whitewater Center. Now, let’s begin to know the cost of living in Charlotte Nc.  

What Is The Cost Of Living In Charlotte Nc? 

The cost of living in Charlotte Nc is 99.7 as compared to the national average of 100. The cost of living in Charlotte is 0% less than the state average and 4% lower than the national average. When you see the table mentioned below, you will see that the cost of housing is more than the national average. While the cost of groceries, transportation, utilities, and health is lower than the national average. 

Cost Of Living For Charlotte NcUSA 
Housing 103.3100
Grocery 99.2100
Transportation 97.7100
Utilities 98.3100
Health 95100
Miscellaneous 110.3100
Median Home Cost $301,300$291,700 
Overall 99.7100

Home Rent 

The cost of living in Charlotte Nc apartment is lower because, in Charlotte, the cost of housing is 14% lower than the national average. The cost of living in certain cities takes into account both the price of rent and the price of the home. The average monthly rent in the city is $1,667, while home prices are around $303,869. Here is the table showing you the approx cost of rent in different cities in North Carolina. So, the average cost of rent in Charlotte, Nc is $1,693.   

City Approx 1 Bedroom Rent Approx 2 Bedroom Rent 
Raleigh $1,362$1,558
Charlotte $1,292$1,444
Durham $1,181$1,416
Greensboro $1,112$1,290
Winston-Salem$880$1230

Food Cost 

In Charlotte, from fast food to fine dining everything is present. A meal for your favorite fast-food joint runs around $8. For a slightly nicer, but still economical experience expect to spend $11 to $25 per meal. Expect to spend at least $50 per meal for fine dining. Here is a table that will show you the approx cost of dinner for 2 in different cities in North Carolina.  

City Approx Dinner Cost For 2 
Raleigh $60
Charlotte $47
Durham $87
Greensboro $76
Winston-Salem$42

Travel Cost 

Is Charlotte, Nc a good place to live? Yes, it is a good place to live. You can get around Charlotte by bus or rail, which is the city’s public transportation system. Approximately $220 is the average cost of a one-way trip. A weekly pass for both transit systems is $30.80 and a monthly pass costs $88. If you would like a monthly pass for the express bus, you will pay $121. 

Other Expenses 

In a list of expenses other than travel, food, and housing, some other expenses need to be considered. The other expenses include healthcare, internet, fitness, taxes, utility, and entertainment. 

Health Care 

The cost of living in Charlotte Nc for a single person is $1,065 for a child and an adult. Fortunately, the city is home to some of the state’s finest hospitals and healthcare centers. 

Utility Bills 

The cost of living in Charlotte, Nc for a single person as well as the monthly cost of living in Charlotte, Nc is greatly dependent upon the utility cost. The average cost of basic utilities like electricity, garbage, water, and trash is just under $170 per month.  

Internet Bills 

In Charlotte, the internet plan from Windstream will cost you around $19.99 per month, while a plan from Spectrum will cost you $49.99 per month for 12 months.  

Fitness 

In Charlotte, a personal trainer starts at $29 per person but Nationwide, personal trainers cost between $29 to $166 per session.  It means the cost of fitness in Charlotte is lower than the national average. 

The entertainment 

Salary needed to live in Charlotte, Nc depends upon how much you spend on food, travel, healthcare, and entertainment. In this category, you can save or spend more money as per your lifestyle. In Charlotte, the movie theatre ticket price is $14.99 for an adult, and freedom park is free of cost.   

Taxes 

The minimum combined sales tax rate in Charlotte, North Carolina is 7.25%, which includes tax rate from the state, county, and city sales tax rates. There is a 4.75% sales tax in North Carolina at the moment. 

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FAQ

How Much Does It Cost To Live Comfortably In Charlotte Nc?

Family of four estimated monthly costs are 3,931.7$ without rent. A single person estimated monthly costs are 1,092.1$ without rent. Charlotte is 16.5% less expensive than Seattle (without rent).

What Salary Do You Need To Live In Charlotte?

The 2021 version of the SmartAsset report showed one-bedrooms in Charlotte averaging $1,236 with a needed income of $52,964 to comfortably afford rent. Two bedrooms averaged $1,444 with a needed income of $61,879

Is Charlotte NC An Affordable Place To Live?

One of the main benefits of Charlotte is its affordability. NerdWallet ranked the city 90th out of 268 cities for expensive living. While living here might cost more than the average mid-size town, it is more affordable than most major cities in the country.

Why Is Charlotte So Cheap?

According to PayScale, the cost of living in Charlotte is approximately 5% lower than the national average. This is mostly due to the city’s reasonable housing, utility, and grocery prices.

Conclusion 

In this article, you learned what is the average cost of living in Charlotte Nc in detail. Now you know that Charlotte’s housing costs are 18% lower than the national average and its utility prices are 6% lower. Transportation expenses including public transportation like metro, rail, or bus fares and gas prices are 6% lower than the national average. The city has grocery prices that are 1% lower than the national average. Overall, Charlotte has an affordable cost of living and is lower than the national average. This is all about the cost of living in Charlotte.