How Much Does It Cost to Live in Charlotte, NC?
Quick Summary: An affordable city, Charlotte's cost of living is 1% lower than the national average, with cost savings in housing, transportation, and healthcare. Check out our cost of living guide to understand the average cost for expenses like homes, groceries, services, and more in Charlotte.
Planning a move to Queen City? One of the most affordable places to live in North Carolina, a great state to move to, Charlotte offers residents affordable housing, utilities, and much more. To help understand living expenses, ask local movers and check out our cost of living guide below!
Cost of living data provided by the Council for Community and Economic Research (C2ER).
How Much Does It Cost to Live in Charlotte?
The cost of living in Charlotte is 1% lower than the national average, making Queen City an affordable place in the South to call home. While utilities and goods and services are higher than the national average, the costs of housing and transportation are lower, balancing out the overall expenses and allowing you to live in Charlotte. Take a look at the comparison chart below!
Cost of Living Categories | Charlotte's Cost of Living Compared to National Averages |
Housing | 15% lower |
Utilities | 1.5% higer |
Transportation | 5.4% lower |
Healthcare | 0.3% lower |
Goods & Services | 9.9% higher |
Cost of Housing in Charlotte
You will find that Charlotte's average real estate prices are 22.6% below the national rate. At the same time, rental prices are slightly higher than the national average—but by less than 1%. Residents can find budget-friendly apartments and houses in safe, affordable Charlotte neighborhoods.
Item | Average Price in Charlotte | National Average Price |
Home Price | $401,923 | $518,961 |
Apartment Rent | $1,573 | $1,559 |
Cost of Utilities in Charlotte (Monthly)
Overall, the cost of utilities in Charlotte balance out to being less than 2% higher than the national average. The monthly cost of energy is about 4% higher than the national average, while phone services are less of a difference at less than 3% lower than the national average.
Item | Average Price in Charlotte | National Average Price |
Energy | $215.91 | $207.49 |
Phone | $189.94 | $195.49 |
Cost of Groceries in Charlotte
The prices of groceries are generally on par with the national average, with only a few items slightly higher in price. See the comparison chart below.
Item | Average Price in Charlotte | National Average Price |
Steak | $15.62 | $15.52 |
Ground Beef | $7.03 | $7.04 |
Milk (1/2 gallon) | $4.70 | $4.70 |
Eggs (Dozen) | $3.61 | $3.56 |
Bananas | $0.77 | $0.74 |
Bread | $4.02 | $3.95 |
Orange Juice | $4.41 | $4.50 |
Coffee | $5.47 | $5.57 |
Cost Of Healthcare in Charlotte
The cost of healthcare in Charlotte overall is nearly equivalent to the national average—just 0.3% lower. Doctor and dentist visits are slightly higher, while optometrist visits and prescription medication costs are lower than the national average, helping to offset medical expenses.
Item | Average Price in Charlotte | National Average Price |
Doctor | $159.41 | $145.43 |
Dentist | $121.87 | $118.71 |
Optometrist | $93.72 | $131.82 |
Prescription Medication | $17.61 | $20.78 |
Cost of Transportation in Charlotte
The cost of gasoline and certain automotive services is slightly lower than the national average. If commuters wish to stretch their dollar further, they can take advantage of the Charlotte Area Transit System's 70+ routes and light rail. See the cost breakdown below.
Item | Average Price in Charlotte | National Average Price |
Gasoline (1 gallon) | $3.04 | $3.24 |
Tire Balance | $60.24 | $62.82 |
Cost of Goods & Services in Charlotte
The costs of goods and services in Charlotte depend on your preferences and lifestyle. The price of goods such as toothpaste, shampoo, and pizza is in line with the national average—while beauty services are 47% higher than the national average.
Item | Average Price in Charlotte | National Average Price |
Toothpaste | $3.88 | $4.10 |
Shampoo | $1.75 | $1.54 |
Ibuprofen | $11.36 | $11.08 |
Haircut | $30.43 | $26.24 |
Movie Ticket | $15.15 | $12.52 |
Beauty Salon | $80.26 | $49.12 |
Hamburger Stand | $4.81 | $5.67 |
Pizza | $10.03 | $12.36 |
Beer | $10.27 | $10.21 |
Wine | $11.83 | $11.79 |
Frequently Asked Questions
How much money do you need to live comfortably in Charlotte?
Living comfortably in Charlotte, NC, depends on your lifestyle, household, and where in the city you live—but as an affordable Southern city, Charlotte requires a single adult's yearly earnings to be between $75,000 and $95,000. With rent averaging a little higher than average, it might be a good idea to live with a roommate to help split the costs of housing and put a little more money into savings, as purchasing a home is ultimately more cost-effective in Charlotte.
How do people afford living in Charlotte?
With a low unemployment rate and healthy job market, residents of Charlotte can pay for its affordable cost of living—and put some away for savings. As the second largest financial center in the country, the median household income is a little more than $65,350—about $10k over the national median—so young professionals moving to Charlotte can find affordable living even after purchasing a home. In fact, Charlotte is a top city for young professionals in the U.S.!
What is the average home price in Charlotte?
As one of the best cities for real estate, Charlotte's average home purchase price is an affordable $401,923—just over $117,000 lower than the national average. The amount you spend on your home depends on factors such as location in the city and property size, as well as trending home features or renovations. On top of this, the average home is a more affordable option than renting in Charlotte, which averages a slightly more expensive monthly rent price than the U.S. average.
***
Relocating to Charlotte? Extra Space Storage offers helpful moving resources. We can also make your move smoother, with several facilities located in the Charlotte metro. Find a storage facility near you!
Additional Moving Resources in Charlotte, NC
Best Moving Companies in Charlotte, NC
Need to hire movers in Charlotte, NC? Compare top-rated local and long-distance moving companies in Charlotte to find the best moving company near you!
Where to Get Free & Cheap Moving Boxes in Charlotte, NC
Learn where to find free and cheap moving boxes near you in Charlotte—and where to recycle them!
Cost of Movers in Charlotte, NC
Find out what hiring movers costs in Charlotte when moving locally or long-distance. Explore hourly moving rates and what to expect for planning your move.
Free Moving Cost Estimator
How much does it cost to move? Use this moving cost calculator from Extra Space Storage to get a moving cost estimate and compare moving options.
Free Cost of Living Calculator
Compare expenses with the Extra Space Storage Cost of Living Calculator to see how far your money goes in different cities across the U.S.
Quinn Johnson
Quinn Johnson is a moving expert and author for Extra Space Storage. He's moved over 15 times, including internationally, and helped countless others between their own homes. He's happy to lift some boxes for a friend as long as he's paid in pizza. As a writer and content creator for Extra Space Storage since 2019, Quinn shares helpful moving tips and info to alleviate the common stresses of moving.
