Cost of living in Charlotte research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Charlotte is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Michigan, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Charlotte is 83, with 100 being the average.
The cost of living index in Charlotte is 0.8x lower than the national average.
Charlotte ranks as the #30 cheapest in Michigan out of 175.
Charlotte ranks as the #491 cheapest out of 6,412 in the US.
The median home value in Charlotte is $115,100.
The median income in Charlotte is $59,640.
According to the most recent data on the cost of living, Charlotte has an overall cost of living index of 83, which is 0.8x lower than the national index of 100.
Compared to Michigan, Charlotte has a cost of living index that's 0.9x lower than Michigan's index of 92.
The standard of living in Charlotte ranks as #30 most affordable out of the 175 places we measured in Michigan. By definition, that implies Charlotte ranks as the #145 most expensive place in the Wolverine State.
For more reading on life in Charlotte, check out:
Six factors go into calculating the cost of living index in Charlotte. Here is how it fairs on each of the criteria:
The Services index in Charlotte is 87.
The Groceries index in Charlotte is 74.
The Health index in Charlotte is 95.
The Housing index in Charlotte is 62.
The Transportation index in Charlotte is 96.
The Utilities index in Charlotte is 97.
|Living Expense||Charlotte||Michigan||National Average|
Housing swings affordability the most between places in Michigan, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Charlotte is $115,100.
The Median Rent in Charlotte is $744.
The Median Income in Charlotte is $59,640.
The Home Value To Income in Charlotte is 1.9x.
The Rent To Monthly Income in Charlotte is 0.15x.
|Median Home Value||$115,100||$172,100||$244,900|
|Home Value To Income||1.9x||2.7x||3.5x|
|Rent To Monthly Income||0.15x||0.18x||0.2x|
The cost of living varies in the cities and towns around Charlotte. Here's a quick look at the cost of living in the most populous nearby places:
Lansing, MI has a cost of living index of 85, 1.0x Charlotte.
Holt, MI has a cost of living index of 86, 1.0x Charlotte.
Waverly, MI has a cost of living index of 94, 1.1x Charlotte.