Quick facts: Charlotte, NC

Quick Facts

105.0
Cost of Living
above US average
897,720
Population
0.54
Crime Rate per 1000
below US average
$74,070
Median Income
below US average
$747,500
Median House Price
above US average
$1509
Average Rent
above US average
12%
Poverty Rate
above US average
4.0%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $74,070.

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Income Needed to Buy

βœ— Stretch
$235k/year
Based on $747,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $235k vs median $74,070
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Income Needed to Rent

βœ“ Affordable
$65k/year
Based on $1509/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($74,070) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Charlotte, NC

Charlotte, North Carolina, is a bustling city located in the southern part of the United States. As the largest city in North Carolina and the second-largest banking center in the country, Charlotte is known for its vibrant economy and diverse culture. The city's skyline is marked by impressive skyscrapers, including the Bank of America Corporate Center and the Wells Fargo Plaza. Charlotte is a hub for industry, finance, and technology, attracting businesses and talent from across the nation. The city is home to several professional sports teams, including the NFL's Carolina Panthers and the NBA's Charlotte Hornets, providing a lively sports culture for residents and visitors alike. In addition to its economic and recreational offerings, Charlotte features numerous parks, gardens, and outdoor spaces, including the beautiful Freedom Park and the scenic U.S. National Whitewater Center. The arts scene is thriving, with venues like the Blumenthal Performing Arts Center showcasing a variety of performances, from theater to concerts. Charlotte's warm climate and southern hospitality make it an appealing destination for newcomers, contributing to its rapid population growth. With a mix of history, innovation, and southern charm, Charlotte continues to be an exciting place to live and visit.

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