While living here may cost more than in an average midsize city, it's more affordable than most major cities in the country. A cost of living index allows you to directly compare what it costs to live in one area with another, helping you understand how far your money can go in each location. If you want to live somewhere just an hour away from stunning mountain escapes and enjoy all the benefits of city living, then consider Charlotte. The cost of living is also linked to income, since wage levels in a geographical area are compared to these expenses.
People who live in Charlotte's growing Plaza Midwood neighborhood feel pressure to pay. If you're not sure if you're living in downtown Charlotte, you can buy or rent property out of town. Located in the center of the state, Charlotte is close to the South Carolina border and two hours east of Asheville. While the cost of living in Charlotte, North Carolina, is low, it helps to break down the various expenses associated with living there in order to better establish a budget.
But if you can't afford it, why bother? Here's a quick look at Charlotte's fun attractions and how much they cost. Whether you use a cost-of-living index or a cost-of-living calculator, each one will help you be more confident in deciding where to live. Since the price of goods and services varies from city to city, calculating the cost of living will determine how affordable it is to live in a given area. The basic data on the cost of living come from the Economic and Community Research Council's Cost of Living Index (COLI).
According to the council, “C2ER produces the cost of living index to provide a useful and reasonably accurate measure of the differences in the cost of living between urban areas.