Charlotte, North Carolina has become one of the most livable cities in the United States. Low crime rates, many employment opportunities and extremely low housing costs are only a few reasons why an increasing number of people are choosing to live in Charlotte. Since its days of cotton processing and railroad development, Charlotte has become a major United States financial center. Two of the nation’s top three banking institutions, Bank of America and Wachovia, are located in Charlotte. One of the most notable recent developments is the Bank of America Corporate Center, a sixty floor skyscraper that draws the most attention in the Charlotte skyline. Another interesting aspect of life in Charlotte is the city’s love of NASCAR. Not only does life in the city come to a halt for many NASCAR events, but the new NASCAR Hall of Fame is also located in Charlotte for all fans to enjoy. From fast cars to finances, Charlotte, North Carolina holds appeal for many people. The banking industry in Charlotte helps drive the economy, but how does it impact the cost of living? Use PayScale’s Cost of Living Calculator to find out.
The Cost of Living in Charlotte is nine percent lower than the national average, a very low cost of living compared to many other large cities in the United States. The most notable aspect of the cost of living in Charlotte is the cost of housing. At 23 percent below the national average, Charlotte has one of the most affordable housing markets in the country. If you are relocating to Charlotte from a larger metropolitan area, you may find that you are able to get more house for your money in this city. The cost of utilities, at 14 percent lower than the national average, also contribute to Charlotte's relatively low cost of living.
If you are considering relocating to North Carolina, you may want to compare the cost living between North Carolina cities. Using PayScale’s Cost of Living Calculator, you can compare cost of living data between your current city and various cities in North Carolina.
Cost of Living North Carolina: Burlington
Cost of Living North Carolina: Lexington
Cost of Living North Carolina: Raleigh
Researching Median Salaries in Charlotte by Job shows that information technology project managers have the highest median salary of $81,754. Second on the list is the position of construction project manager with a median salary of $65,461. Administrative assistants and retail store managers are at the lower end of the spectrum, with median salaries ranging from $30,000 to $40,000. Researching Median Salaries by Years of Experience shows the salary progression in Charlotte over 20 years. For those with less than one year of work experience, a median salary of around $40,000 can be expected. With greater experience, this median salary steadily increases, reaching $68,645 after 20 years of experience or more.