What Is The Cost Of Living In Charlotte NC?

Answer for "What is the cost of living in Charlotte NC?"

Stephanie Jones, Real Estate Agent

Berkshire Hathaway HomeServices Verani Realty

For a beautiful city like Charlotte, NC, ridden with history and the thrill of constant reinvention, the general expectations are for a slightly higher cost of living. However, the city of Charlotte manages to surprise us all with its affordable cost of living and great living quality.

Located in Southern North Carolina, pretty much on the border of South Carolina, is the city of Charlotte, one of the jewels of the south that is also known as the “Queen City” named after the wife of King George the III. It’s a city of contrast and unity. From beaches to mountains, from NASCAR to museums, Charlotte has many great things to do available to anyone who finds their way within its community.

Cost of Living

Living in Charlotte, NC has its pros and cons, but it is safe to say that the cost of living is not a con. Let’s see where the average expenses stand in the city and exactly what makes it so affordable.

Housing

The largest amount of money goes to housing expenses. It differs from renting to buying, if we look at the real estate market and Charlotte is one of the few cities where buying is more affordable than renting.

If you look at the median house values in this city you’ll see that the prices are lower than the national average by 14%. That makes the median prices for homes at around $252,500 and, for example, you can find amazing apartments in Uptown Charlotte at $242,000 with 2 bedrooms, 2 bathrooms at 930 square feet.

In regards to rentals, the median renting price is around $1,500 and you can find 2 bedroom condos for $1,300 in Uptown Charlotte.

Utilities and other expenses

When you look at the cost of utilities in Charlotte, NC you’ll see a lower cost than the national average for any additional expenses. For utilities, you can expect an average of $170/month for a 900 sq feet condo, while a gallon of gas is approximately $2.53. With a median household income of $61,000, these expenses are affordable and a meal at a mid-range restaurant for 2 people is between $40 to $55 which is, again, affordable.