Why are people moving to Charlotte and surrounding areas?
Charlotte at a Glance:
Population: Charlotte's population is about 885,663, according to 2023 estimates.
Cost of Living: The cost of living in Charlotte, NC, is about 2 percent below the national average.
Average Rent: The average monthly rent for a one-bedroom (943 square feet) apartment in Charlotte is around $1,675 per month.
Average home value: The average home value in Charlotte is around $382,900 as of July 2023.
Average commute time: The average one-way commute time in Charlotte is 25.3 minutes-Just a little shorter than the U.S. average of 26.4.
Living in Charlotte, NC- FAQ
Before we jump into our list, let’s answer a few frequently asked questions about living in Charlotte, NC.
Q: Is Charlotte, NC, a good place to live? A: Charlotte, NC, is a lovely place to live. With a lower-than-average cost of living, strong financial industry, relatively mild climate, and an up-and-coming food scene, it’s no wonder it’s one of the top 20 fastest-growing cities in the U.S.
Q: Why are people moving to Charlotte? A: You may have heard that Charlotte, NC, is one of the fastest-growing cities in the U.S. and wondered why. For city dwellers flocking from larger hubs like New York, Charlotte offers the twinkly skyline and surplus of things to do (think: brewery tours, ball games, festivals, and museums) but with blissfully lower rents and real estate prices and even a slightly lower cost of living than the national average.
Q: What is it like to live in Charlotte? A: Living in Charlotte, NC, means living in a mid-size southern city known for its financial industry, multiple professional sports teams and stadiums, delicious (and evolving) food scene, an abundance of parks, and a total of more than 200 neighborhoods — perfect for young singles and families alike. It also means lush, green lawns and beautiful tree-lined streets.
Q: What salary do you need to live comfortably in Charlotte, NC? A: According to MIT, a single person without any children requires an annual income of about $36,000 before taxes, while a couple with two children (and both partners working) requires about $106,000 annually before taxes. According to the U.S. Census, the per capita income in Charlotte is around $43,000, while the median household income is around $68,000 — not far off from the national numbers. When it comes down to it, though, your required livable salary depends on where in the city you live and what kind of lifestyle you lead.
Q: Should I live in Charlotte or Raleigh? A: While we’re not in the business of comparing entire cities — each locale has its own charm and residents who relish calling it home — there are some notable differences between Charlotte and Raleigh that may help you decide where to settle. While Raleigh is the capital city of North Carolina, Charlotte boasts more of a city feeling with a population in the ballpark of twice as large. Raleigh, on the other hand, enjoys a bustling but more suburban vibe, thanks to the several universities and colleges in the area. In terms of climate and cost of living, though, you’ll find both cities are fairly similar.
Q: What are the pros and cons of living in Charlotte, NC? A: Living in Charlotte, NC, is chock full of pros, from its beautifully mild climate that still goes through four seasons, its fast-growing population and true city feel, strong job market (especially for those in the financial sector), and surplus of fun things to do for kids and couples alike. On the cons side, those who don’t love the heat may want to stray clear of the hot, muggy summers, while those who hate driving may find the public transit options lacking and have to brave the traffic-prone and sometimes accident-ridden roads.