If you're not sure if you're living in downtown Charlotte, you can buy or rent property out of town. 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. Even with rent increases, the city's strong labor market continues to make Charlotte an attractive place to live. 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.
You'll need to keep your nightlife budget in mind when you live in Charlotte, as going out to the city every night adds up quickly. While living here may cost more than in an average midsize city, it's more affordable than most major cities in the country. 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. Located in the center of the state, Charlotte is close to the South Carolina border and two hours east of Asheville.
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 cost of living is also linked to income, since wage levels in a geographical area are compared to these expenses. As across the country, Charlotte's rentals are more affordable in nearly every neighborhood. The good news is that rents in Charlotte are historically lower than in other urban areas such as Atlanta.
The basic data on the cost of living come from the Economic and Community Research Council's Cost of Living Index (COLI). You should also consider the living wage, the minimum amount of money needed to live above the poverty line, when calculating the cost of living in Charlotte. Health care is another major expense to consider when considering the cost of living in Charlotte. 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.