Charlotte, NC Real Estate Insurance and Taxes| The Cost of Living in Charlotte, NC
April 2nd, 2008 Categories: Charlotte News and Politics, FAQs About Charlotte
The Cost of Living in Charlotte- “Objectively Affordable”
Why have so many people been moving from the north-east down to Charlotte, NC? Is it because they get tired of the long winters? Well that’s part of it but another major reason for moving to Charlotte is the low cost of living index. Looking at the Chamber of Commerce’s website the average new house in Charlotte cost $243,773 in 2007, had 2,400 sq ft of living space and was on a 8,000 sq ft lot. But how does Charlotte compare to other large cities? Using CNN’s cost of living calculator I’ve compared several cities to Charlotte’s cost of living. There are many reasons folks move here- the favorable cost of living is a big one.
Cost of living in Charlotte as compared to Boston
A person living in Charlotte, NC making $60,000 per year would have to be earning approximately $82,065 per year to sustain the same quality of life. Groceries would cost almost 30% more as compared to Charlotte. Transportation would cost about 10% more and utilities would cost 44% more than in Charlotte. To live in a similar sized house would cost you 90% more than in Charlotte.
Cost of living in Charlotte as compared to New York City
A person living in Charlotte, NC making $60,000 per year would have to be earning almost $135,784 per year to sustain the same quality of life. Groceries cost about 50% more in New York and health-care costs approximately 17% more. Housing in New York City costs 395% more than in Charlotte!
A person living in Charlotte, NC making $60,000 per year would have to be earning about $92.554 per year to sustain the same quality of life. Groceries cost 13% more than in Charlotte. Transportation costs 11% more and utilities cost 47% more on average. Housing costs are approximately 184% more expensive in the Washington D.C. area than in Charlotte.
Thinking about moving to sunny Florida instead of the Queen city? Think twice, besides the higher danger of skin cancer Florida is a more expensive place to live.
Cost of living in Charlotte as compared to Miami
A person living in Charlotte, NC making $60,000 per year would have to be earning about $75,253 to sustain the same quality of life. Transportation costs about 12% more and utilities cost about 22% more than in Charlotte. Housing costs almost 81% more than in Charlotte, NC.
Taxes are not as easy to compare, but a $500,000 home here might have 4000 sf, if its tax value is 400K, your highest tax bill would be $5,200, your lowest? About $2900 in Union, Iredell, Gaston or Cabarrus County.
If you are from Florida, get ready for our property insurance rates… are you sitting down? About $600 for the $500K home above. Car insurance too gets a break here.
If you are interested in moving to Charlotte please give me, Terry, a call at 704-351-1519 or look for the perfect home for you in Charlotte Search the Charlotte MLS.
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