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NerdWallets cost of living calculator is powered by data from The Council for Community and Economic Research (C2ER). According to the latest BLS data, consumers average over $7,000 per year on food expenses. Pricing for various packages can vary a lot even in the same location. To maintain your standard of living in Charlotte, NC, you'll need a household income of: The cost of living is 7% lower in Charlotte, NC. Our partners compensate us. You may find that after you move, you will need to purchase many new items for the new location, for example, window coverings, rugs, lighting, and outdoor gear. Otherhand charlotte has other benefits. When evaluating offers, please review the financial institutions Terms and Conditions. Pre-qualified offers are not binding. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Employers in Houston, TX typically pay 4.6% more than employeers in Charlotte, NC. Dallas doesnt have state taxes but property taxes are said to be huge! Dallasites are incredibly passionate about sports, especially considering the Dallas Cowboys home games are one of the most highly attended sports events in the United States. lower in Charlotte, And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. Rent in Dallas tends to be cheaper as well, with average rent in Dallas falling around $1,239 per month versus $1,459 in Charlotte. Before you get the keys to your new home, you'll have to pay closing costs. According to this analysis, Charlotte is slightly more affordable, offering cheaper housing and utility bills. Items on which the index is based have been carefully chosen to reflect the different categories of consumer expenditures., C2ER was founded in 1961, and continues to exist today as a nonprofit organization, comprising research staff of chambers of commerce, economic development organizations and agencies, and related organizations throughout the United States. C2ER has published its quarterly Cost of Living Index since 1968. A salary of $189,000 in Charlotte, North Carolina should increase to $191,464 in Dallas, Texas . Some areas have more affordability and availability of healthcare options than others, and depending on your specific needs, you may need to prioritize moving to areas with lower healthcare costs. The rule of thumb is not to spend more than 30% of your total income on housing. Get your true budget and find a home with ease. The cost of living in Charlotte is 4% more expensive than in Houston. Just to put that into perspective, Manhattan has an overall score of 238, Seattle has an overall score of 159, Boston has an overall score of 153, and Los Angeles has an overall score of 148. Walkability and public transit scores were obtained fromWalk Score. Dallas falls behind Charlotte as the 21st most congested city in the U.S., with residents spending about 76 hours per year sitting in traffic. Both Dallas and Charlotte share some characteristics in that they offer warm temperatures with mild winters, a lower cost of living compared to other major cities, and other similarities. Whether thats a mortgage or rent, a large percentage of your salary will go toward your housing expenses each month. Weekly trips to the grocery store can add up, especially if food costs are high where you live. You could eat out less, cut back on takeout and cook more often. analyzes the cost of living differences between Charlotte and Dallas based on five categories: grocery, healthcare, housing, miscellaneous, transportation, and utilities. One of the most important aspects to a good quality of life is good healthcare. This information may be different than what you see when you visit a financial institution, service provider or specific products site. The average after-tax salary is enough to cover living expenses for 2.6 months in Charlotte compared to 2.4 months in Dallas. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Cost of living is also tied to income, as salary levels in a geographic area are measured against these expenses. $1,447. Cost of Living Comparison Between Charlotte, NCand Dallas, TX You would need around 5,982.8$in Dallas, TXto maintain the same standard of life that you can have with 6,400.0$ This calculation uses our Cost of Living Plus Rent Index to compare cost of living. Home prices, property taxes and monthly rents vary from state to state, city to city, town to town and even neighborhood to neighborhood.For homeowners, there are more expenses to consider than just the monthly mortgage payment. This information may be different than what you see when you visit a financial institution, service provider or specific products site. If you can't find a city, you can type the state name to see all cities available in that state. This price can vary a lot if the distance is greater and depending on how much is being moved. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Privacy Policy. For others, it involves driving your car, and that means factoring in car repairs, gas, tolls and parking. There are many providers and various packages that are offered, many that bundle internet, cable, and phone together. Theres also maintenance, upgrades, taxes and fees to take into account when deciding where to live. It is possible that electric rates may fluctuate depending on consumption rates, government regulations and even the weather. How is this tool different from other resources out there? the estimated difference in money purchasing power. To get the best mortgage loan, know how much you can afford and shop like the bargain hunter you are. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. According to the U.S. Bureau of Labor Statistics, the largest bill consumers pay each month is for housing. Both Dallas and Charlotte share some characteristics in that they offer warm temperatures with mild winters, a lower cost of living compared to other major cities, and other similarities. Current cityIf you can't find a city, you can type the state name to see all cities available in that state. Cities ranked 463rd and 271st ( $2038 vs $2268) in the list of the most expensive cities in the world and ranked 365th and 211th in the United States. Because the price of goods and services varies from one city to the next, calculating the cost of living will determine how affordable it is to live in a certain area. Based on data collected by NOAA National Climatic Data Center, Charlotte is considered to have one of the most favorable climates in the country based on comfort and number of days with clear skies. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Thinking about moving to another city? One of most important determinations you need to make before moving to a new city or town is how much it will cost to live there. Do not sell or share my personal information. Compare Cities In the 2016 presidential election, 60.2% of individuals in Dallas County voted Democrat, 34.3% voted Republican, and the remaining 5.4% voted Independent. Charlotte has a burgeoning sports scene as well, but their real pride is the Charlotte Motor Speedway, home to the annual Coca-Cola 600 and the longest race in NASCAR. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. The average after-tax salary is enough to cover living expenses for 2.6 months in Charlotte compared to 2.9 months in Houston. A low rate can save you hundreds each year. A low rate can save you hundreds each year. Get free guidance on changes you can make to afford more home, without spending more. Price collection by city is conducted in strict conformance with standard specifications at specified times. How to Get Preapproved for a Mortgage and Why It Matters. Using these numbers, we calculated the net change in annual disposable income that a move to the new city will have on your wallet and lifestyle. Familiarize yourself with the places where students hang out, and take advantage of discounted or bargain prices, you are sure to be able to keep your. Theres also maintenance, upgrades, taxes and fees to take into account when deciding where to live. And it adds up. For example, the cost of an unlimited MetroCard in New York was obtained from the. $3,492. Pre-qualified offers are not binding. Transportation: Unless youre lucky enough to work from home, you will need to factor in transportation costs when deciding where to live. A crowdsourced database with a cost of living calculator for prices comparison in 9294 cities in 197 countries all over the world. The cost of electricity in Texas has gone up by 1.883% in the past year. How does Charlotte compare to Dallas? The Charlotte metropolitan area's population ranks 22nd in the U.S., and had a 2016 population of 2,474,314. To get the best mortgage loan, know how much you can afford and shop like the bargain hunter you are. Make sure you budget for these types of expenses and include them in the first years, The current electric rate cost in Charlotte,NC is 11.07 / kWh, which is up compared to the rest of the United States. Food: Weekly trips to the grocery store can add up, especially if food costs are high where you live. Whether you use a cost of living index or a cost of living calculator, each will help you feel more confident in deciding where to live. According to the BLS, transportation is the second-largest expense consumers have.For some, these costs include taking public transportation. According to the latest BLS data, consumers average over $7,000 per year on food expenses. Demographics data (including population, age, ethnicity, education and gender breakdown) were compiled from theU.S. Census. Why bother to move stuff that you do not even use! And it adds up. The total income needed is $2,682 The goal is to pay under 30%, but that may not be achievable in your destination city or town. You should evaluate the options based on your usage and preferences and pick the best fit for your needs. Quality of life data (gyms, bars and beauty salons per 1,000 residents) were collected from the Yellow Pages. lower Even if your employer is covering the cost of a move, there will still be costs that are not covered. Energy costs in Charlotte,NC are generally going up. When evaluating offers, please review the financial institutions Terms and Conditions. The cost of living in Charlotte is 10% less expensive than in Dallas. More traffic means more gas spent. With that being said, Charlotte has a significant traffic problem, ranking as the 16th most highly congested city in the United States. Pre-qualified offers are not binding. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 22% lower. This comparison is lacking data. - The average commute for residents of Charlotte is 1.5 minutes shorter than it is for residents of Dallas. Because the price of goods and services varies from one city to the next, calculating the cost of living will determine how affordable it is to live in a certain area. Price collection by city is conducted in strict conformance with standard specifications at specified times. Whether youre a commuter via your own vehicle or public transportation, considering factors like the price of gas and monthly cost of taking a train or bus is crucial when budgeting for your move. Comparisons improve with every new data that you enter. higher. Charlotte (/rlt/) is the most populous city in the U.S. state of North Carolina. Median 2-bedroom apartment rent. Getting to work is important. A cost that typically occurs is that your existing furniture and accessories are either too large, too small, or not appropriate for your new home. Dallas tends to get very hot in the summer, more so than Charlotte, but it also has lower humidity and less rain. NC. To maintain your standard of living in Dallas, TX, you'll need a household income of: The cost of living is 7% higher in Dallas, TX. Don't hesitate to reach out if you are contemplating moving and have any questions! All financial products, shopping products and services are presented without warranty. Core cost of living data is fromThe Cost of Living Index - COLIfrom the Council for Community and Economic Research. Food: Weekly trips to the grocery store can add up, especially if food costs are high where you live. Please consider telling us about your city. Especially with the New Year upon us, you may be contemplating a move or want to weigh the pros and cons of both areas.