Charlotte, NC Cost Of Living
Cost Of Living In Charlotte, NC Summary
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 North Carolina, 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 110, with 100 being the average.
The cost of living index in Charlotte is 1.1x higher than the national average.
Charlotte ranks as the #114 cheapest in North Carolina out of 157.
Charlotte ranks as the #3,657 cheapest out of 6,489 in the US.
The median home value in Charlotte is $395,529.
The median income in Charlotte is $78,438.
Table Of Contents
Charlotte's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Charlotte, NC?
According to the most recent data on the cost of living, Charlotte has an overall cost of living index of 110, which is 1.1x higher than the national index of 100.
Compared to North Carolina, Charlotte has a cost of living index that's 1.2x higher than North Carolina's index of 92.
The standard of living in Charlotte ranks as #114 most affordable out of the 157 places we measured in North Carolina. By definition, that implies Charlotte ranks as the #43 most expensive place in the Tar Heel State.
For more reading on life in Charlotte, check out:
In North Carolina
In America
Charlotte Cost Of Living Vs. North Carolina
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 103.
The Groceries index in Charlotte is 100.
The Health index in Charlotte is 112.
The Housing index in Charlotte is 127.
The Transportation index in Charlotte is 93.
The Utilities index in Charlotte is 88.
| Living Expense | Charlotte | North Carolina | National Average | |
|---|---|---|---|---|
| Overall | 110 | 92 | 100 | |
| Services | 103 | 100 | 100 | |
| Groceries | 100 | 99 | 100 | |
| Health | 112 | 106 | 100 | |
| Housing | 127 | 86 | 100 | |
| Transportation | 93 | 93 | 100 | |
| Utilities | 88 | 95 | 100 | |
Charlotte, NC Housing Cost Breakdown
Housing swings affordability the most between places in North Carolina, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Charlotte is $395,529.
The Median Rent in Charlotte is $1,504.
The Median Income in Charlotte is $78,438.
The Home Value To Income in Charlotte is 5.0x.
The Rent To Monthly Income in Charlotte is 0.23x.
| Statistic | Charlotte | North Carolina | United States |
|---|---|---|---|
| Median Home Value | $395,529 | $332,681 | $303,400 |
| Median Rent | $1,504 | $1,162 | $1,348 |
| Median Income | $78,438 | $69,904 | $78,538 |
| Home Value To Income | 5.0x | 4.8x | 3.9x |
| Rent To Monthly Income | 0.23x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Charlotte, NC Costs By Category
Detailed Charlotte Services Costs Vs. North Carolina
| Item | Charlotte | North Carolina |
|---|---|---|
| Shampoo | $1.27 | $1.28 |
| Movie | $13.55 | $12.13 |
| Bowling | $21.67 | $18 |
| Haircut | $18.25 | $24.26 |
| Beauty Salon | $59.75 | $45.56 |
Detailed Charlotte Groceries Costs Vs. North Carolina
| Item | Charlotte | North Carolina |
|---|---|---|
| Ground Beef | $6.27 | $5.84 |
| Fried Chicken | $1.39 | $1.57 |
| Milk | $4.61 | $4.67 |
| Potatoes | $4.98 | $4.93 |
| Pizza | $10.96 | $12.09 |
| Beer | $10.47 | $10.41 |
| Toothpaste | $3.81 | $3.7 |
Detailed Charlotte Health Costs Vs. North Carolina
| Item | Charlotte | North Carolina |
|---|---|---|
| Optometrist | $143.74 | $125.68 |
| Doctor | $148.29 | $135.78 |
| Dentist | $115.52 | $113.29 |
Detailed Charlotte Transportation Costs Vs. North Carolina
| Item | Charlotte | North Carolina |
|---|---|---|
| Gasoline | $3.29 | $3.46 |
| Tire Balancing | $53.32 | $59.92 |
Detailed Charlotte Utilities Costs Vs. North Carolina
| Item | Charlotte | North Carolina |
|---|---|---|
| All Electricity | $167.89 | $193.99 |
| Phone | $189.9 | $192.25 |
Charlotte SnackAbility
/10
Cost Of Living In Cities Around Charlotte
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:
Huntersville, NC has a cost of living index of 119, 1.1x Charlotte.
Indian Trail, NC has a cost of living index of 113, 1.0x Charlotte.
Cornelius, NC has a cost of living index of 122, 1.1x Charlotte.
| City | Population | Cost Of Living | Vs. Charlotte |
|---|---|---|---|
| Huntersville, NC | 62,458 | 119 | 1.1x |
| Indian Trail, NC | 41,146 | 113 | 1.0x |
| Cornelius, NC | 32,009 | 122 | 1.1x |
| Matthews, NC | 29,959 | 113 | 1.0x |
| Mint Hill, NC | 26,954 | 112 | 1.0x |
| Harrisburg, NC | 19,203 | 122 | 1.1x |
| Mount Holly, NC | 17,928 | 99 | 0.9x |
| Stallings, NC | 16,495 | 115 | 1.0x |
| Belmont, NC | 15,140 | 107 | 1.0x |
| Davidson, NC | 14,852 | 133 | 1.2x |
