Charlotte, NC is an exciting city to live in with a thriving economy. It’s home to major corporations such as Bank of America, Duke Energy, and Lowe’s as well as other smaller businesses. The cost of living in Charlotte is higher than the national average; for example, rent for a two bedroom apartment in Charlotte is $1,480 compared to $1,430 nationally. Additionally, groceries in Charlotte have an index score of 99 versus 100 nationally. Overall, while the cost of living may be more expensive in Charlotte than other cities across the US it still offers a lot when it comes to job opportunities and entertainment options.
Charlotte has an unemployment rate of 4.9%. The US average is 6.0%.
Charlotte has seen the job market increase by 2.7% over the last year. Future job growth over the next ten years is predicted to be 45.2%, which is higher than the US average of 33.5%.
Tax Rates for Charlotte
- The Sales Tax Rate for Charlotte is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Charlotte is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Charlotte
- The average income of a Charlotte resident is $31,844 a year. The US average is $28,555 a year.
- The Median household income of a Charlotte resident is $68,367 a year. The US average is $69,021 a year.