The cost of living in Charlotte, North Carolina, is 2% lower than the national average. The cost of living in any area can vary depending on factors such as your career, your average salary, and the real estate market in that area. Charlotte's cost-of-living index is 98.9, which means that the city is 1.1% less expensive than the average cost of living in the United States. While 1.1% may not seem like much of a difference, it can go a long way toward creating a savings account, enjoying additional entertainment each month, and supporting Charlotte's local economy.
The lower cost of living index is largely attributed to housing costs. Housing in Charlotte costs 30% less than in other areas of the United States, while most other cost-of-living factors are on par with the U.S. average. Located in the center of the state, Charlotte is close to the South Carolina border and two hours east of Asheville.
The combined minimum sales tax rate for the state, county and city sales tax rate in Charlotte, North Carolina, is 7.25%. Charlotte is home to one of the most important music scenes in the state, so residents can experiment with several genres. For those who have furry, scaly, or feathery children, vet visits in Charlotte are on average with other cities in the United States. The housing market continues to improve as the number of businesses open their doors in downtown Charlotte.
Health care is another major expense to consider when considering the cost of living in Charlotte. Whether you want to live in the heart of the action of downtown or find a quiet neighborhood with space and amenities, you'll find it in Charlotte. 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. Nicknamed the Queen City after Charlotte of Mecklenburg-Strelitz, the queen consort during the time the city was founded, Charlotte is one of the largest shopping centers in North Carolina.
Charlotte offers a reasonable cost of living compared to similar-sized cities, where a modest income can be spread widely. If you're not sure if you're living in downtown Charlotte, you can buy or rent property out of town. Even with rent increases, the city's strong labor market continues to make Charlotte an attractive place to live. In addition to getting a great return on housing investments, residents enjoy paying slightly lower costs for most other cost-of-living factors.
Longtime residents and those who recently moved to Charlotte enjoy how far their money can go in most areas of the city.