Moving To Charlotte NC: Renters Guide (2023)

FAQs

What to know about Charlotte NC before moving there? ›

You'll find far more square footage, better locations, and commutes as well as a higher quality of life thanks to the affordability of Charlotte! The basic cost of living in Charlotte is lower than the national average by about 8% making the Queen City a great place to live!

The average cost for a one-bedroom apartment in Charlotte is $1,435 a month, meaning an income of $61,479 a year is needed. The average for a two-bedroom apartment in Charlotte is $1,647 a month, meaning an income of $70,582 a year is needed.

How much money do you need to live in Charlotte? In Charlotte, the analysis determined homeowners need income of $80,070 to follow that budgeting advice, while renters need $82,999. The reported local median income of $58,202 is well below what is needed to easily buy or rent in the area.

Charlotte's most affordable neighborhoods include Ballantyne West, Chantilly, Sardis Forest, Providence Crossing, and McAlpine.

Apartment management companies blame the rising rents on the cost of business and inflation but those decisions are costing some renters their homes.

The median household income in Charlotte is $53,637.

It's complex and diverse, often divided into multiple subclasses — upper middle class, lower middle class and the working middle class. For a single person in Charlotte the middle income tier ranges from $22,000 to $67,000.

What salary do you need in Charlotte to afford a home? ›

Researchers found a person would need to earn $61,479 to afford a one-bedroom apartment or $70,582 to afford a two-bedroom apartment based on the average fair market price in Charlotte. The average price for a one-bedroom apartment in Charlotte is $1,435, according to the study.

The Charlotte Observer reports via Census data, Charlotte residents are 47% white, 35% Black, 15% Hispanic, 7% Asian and 17.2% were not born in the U.S. Raleigh is the second-most diverse city in the Tar Heel State.

Data from July 2022 shows the price ballooned to $397,000. New research from Moody's says Charlotte homes are overvalued by 44%.

With a strong economy, balanced cost of living, educational and entertainment opportunities, and beautiful weather, it's one of the top cities to relocate to. Whether you're considering buying in a new home community in Charlotte or building on your lot, you'll love your new lifestyle.

Charlotte's coldest month is January when the average temperature overnight is 32.1°F. In July, the warmest month, the average day time temperature rises to 90.1°F.

The Dilworth, Myers Park, and Eastover areas make up the most expensive home-buying zip code around Charlotte. The median value of a home is up more than 11 percent over the last year.

Residents are referred to as "Charlotteans".

Lower Cost Of Living

Texas is known for its affordable prices on essentials such as utilities, food, and especially housing. But, when you move east to North Carolina, you can expect to find an even lower cost of living, and some pretty affordable essentials.

Which state is better to live in North Carolina or Georgia? ›

Living in Charlotte offers residents an urban suburban mix feel and most residents own their homes. In Charlotte there are a lot of restaurants, coffee shops, and parks. Many families and young professionals live in Charlotte and residents tend to lean liberal. The public schools in Charlotte are above average.

If you're looking for a safe place to raise a family with plenty of job opportunities and the feel of the suburbs, Raleigh is a good choice. If you're interested in tech or finance jobs, want more action and fun, or appreciate big-city living, Charlotte may be in your future.

Yes, you can live in Charlotte without a car, but it is better with one, especially a little red convertible.

A: Charlotte, NC, is a lovely place to live. With a lower-than-average cost of living, strong financial industry, relatively mild climate, and up-and-coming food scene, it's no wonder it was one of the top 20 fastest-growing cities in the U.S.

It's cheaper to buy than rent in all but three counties in the Charlotte market. While it's still more affordable to buy a home than it is to rent in most places across the U.S., that gap is narrowing.

Good News! The cost of living in Charlotte, NC is 0.2% higher than in Asheville, NC.

For the first time in 2022, there was a month over month dip in rent prices in August. According to a report by Rent, Charlotte also saw a year-over-year decrease in average prices. In August there was a more than 27 percent decrease year-over-year in average rent prices on two-bedroom apartments.

With Charlotte being a major Sunbelt boomtown, Biddleville is in the midst of gentrification, a process where wealthier people move into a community and typically displace current inhabitants as a result.

Is Charlotte landlord friendly? ›

North Carolina landlord-tenant law is typically landlord-friendly. There are currently an estimated 10 million residents in North Carolina.

In Charlotte, you'll need to earn $129,044 or more to be considered a “rich” person in the top 20% of the city's over 850,000 residents. In Raleigh, you'd need to make at least $131,513. Charlotte's ultra-rich, or the top 5% of earners, make way more: $483,726 on average, according to the analysis.

Charlotte's housing expenses are 18% lower than the national average and the utility prices are 6% lower than the national average. Transportation expenses like bus fares and gas prices are 6% lower than the national average. Charlotte has grocery prices that are 1% lower than the national average.

The average salary for jobs in Charlotte, North Carolina is $60,511 (USD) per year or an hourly rate of $29 (USD).

Another guideline to follow is your home should cost no more than 2.5 to 3 times your yearly salary, which means if you make $30,000 a year, your maximum budget should be $90,000.

What income is required for a 200k mortgage? To be approved for a $200,000 mortgage with a minimum down payment of 3.5 percent, you will need an approximate income of $62,000 annually. (This is an estimated example.)

Is N.C. raising minimum wage in 2022? ›

North Carolina Minimum Wage for 2021, 2022. North Carolina's state minimum wage rate is $7.25 per hour. This is the same as the current Federal Minimum Wage rate.

While North Carolina often gets hit by hurricanes, Charlotte is located far enough inland to avoid the worst of it. The area is also considered low risk for other dangerous natural disasters, including earthquakes, fires, and tornadoes.

Charlotte's most affordable neighborhoods include Ballantyne West, Chantilly, Sardis Forest, Providence Crossing, and McAlpine.

Under North Carolina law, to qualify for in-state residency, you must show that you: Have established your legal residence (domicile) in North Carolina, and. Have maintained that domicile for at least twelve (12) consecutive months before the beginning of the term, and.

You can't go wrong for the most part when it comes to comparing the weather between North and South Carolina. They are both mild, comfortable places to live. Since South Carolina is closer to the equator, it has a bit warmer temperatures than North Carolina and is likely more ideal for going to the beach year-round.

North Carolina was the only state in the 2020 election in which Donald Trump won with under 50% of the vote. In the 2020 election, North Carolina was 5.8% right of the nation as a whole. The state last voted Democratic in 2008 and furthermore, it had last voted more Republican than neighboring Georgia in 2000.

Is Charlotte NC muggy? ›

While not too hot, the summer in Charlotte can be brutally muggy, especially in the middle of July when both the humidity and temperature reach their peak. Unfortunately, muggy days also mean muggy nights because the dew point keeps humidity levels from dropping even as the temperatures do.

Most of North Carolina's alligators are found in the southeastern corner of the state, excluding the Outer Banks. A Carolina Coastal Review study suggests the farthest west they might appear would be Richmond County, though none have been recorded past eastern Scotland County. That's four counties away from Charlotte.

What is the hottest month in Charlotte? According to the National Weather Service's averages, which use data dating back to 1871, July is typically the hottest month in Charlotte, with an average temperature of 78.5 degrees. August is a close second, with an average temperature of 77.3 degrees.