Quick facts: Concord, NC

Quick Facts

100.6
Cost of Living
above US average
109,896
Population
10.87
Crime Rate per 1000
below US average
$83,480
Median Income
above US average
$350,000
Median House Price
above US average
$1745.39
Average Rent
above US average
11%
Poverty Rate
above US average
3.9%
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 $83,480.

🏠

Income Needed to Buy

βœ— Stretch
$110k/year
Based on $350,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $110k vs median $83,480
🏒

Income Needed to Rent

βœ“ Affordable
$75k/year
Based on $1745.39/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($83,480) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Concord, NC

Concord, North Carolina, is a vibrant city located just northeast of Charlotte, within Cabarrus County. Known for its rich history and Southern charm, Concord is home to several historic sites, including the historic downtown area with its quaint shops and restaurants. The city is also famous for the Charlotte Motor Speedway, which hosts NASCAR events, drawing racing enthusiasts from across the country. Concord has a growing economy, supported by various industries including manufacturing, retail, and hospitality. The Concord Mills mall is one of the largest shopping destinations in North Carolina, offering a wide range of stores, dining, and entertainment options. The city is also well-known for its recreational facilities with numerous parks, greenways, and community events, making it an ideal place for families. The proximity to Charlotte provides residents with easy access to urban amenities while enjoying a more suburban lifestyle in Concord. With a strong sense of community and a variety of cultural activities, Concord continues to be an attractive place for both residents and visitors.

πŸ” Search & Compare Places

First Location πŸ“