For example, the cost of an unlimited MetroCard in New York was obtained from theMTA website. household income. lower in Charlotte, Price collection by city is conducted in strict conformance with standard specifications at specified times. One of the most important aspects to a good quality of life is good healthcare. With the ever-rising popularity and low cost of living in both Charlotte and Dallas, I am frequently asked how the two cities compare. According to this analysis, Charlotte is slightly more affordable, offering cheaper housing and utility bills. Since there are football, baseball, basketball, hockey teams, you can go to a lot of games. Both Dallas and Charlotte boast a well-educated population, with around 42 percent of those in Charlotte having graduated college and about a third in Dallas. 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. Unless youre lucky enough to work from home, you will need to factor in transportation costs when deciding where to live. Here are two important questions and the numbers to you will need to answer those questions: How much more or less will it cost to live in the new city? > The cost of a monthly transit pass in Charlotte, NC is around $88.00. The weather in Dallas is ideal. - The Median Age is 1.4 years older in Charlotte. It's challenging to find a city that offers a great quality of life, convenience, and affordability and Dallas and Charlotte offer all of that and more. The expenses that factor into cost of living can include housing affordability, transportation expenses, food prices and entertainment costs. from the Council for Community and Economic Research. While I understand the big box, national portal sites like Zillow, Trulia, & Realtor.com are popular with consumers, you You might be closer to buying the home of your dreams than you think. Cost of living is the amount of money you need to sustain a certain lifestyle in a given place. Items on which the index is based have been carefully chosen to reflect the different categories of consumer expenditures., C2ER was founded in 1961, and continues to exist today as a nonprofit organization, comprising research staff of chambers of commerce, economic development organizations and agencies, and related organizations throughout the United States. C2ER has published its quarterly Cost of Living Index since 1968. When evaluating offers, please review the financial institutions Terms and Conditions. The cost of living in Dallas, TX is -4.4% lower than in Charlotte, NC. Whether thats a mortgage or rent, a large percentage of your salary will go toward your housing expenses each month. Our partners cannot pay us to guarantee favorable reviews of their products or services. The quote I got was on a 300k home in Dallas, it would cost about 7k in property taxes. Mecklenburg County, where Charlotte is located, 62.3% voted Democratin the 2016 presidential election,32.9% voted Republican, and the remaining4.8% voted Independent. Some stores like Kroger offer frequent discounts or loyalty programs that can save you even more at the checkout. Cost of Living Comparison Between Dallas, TXand Charlotte, NC You would need around 6,466.9$in Charlotte, NCto maintain the same standard of life that you can have with 6,000.0$ This calculation uses our Cost of Living Plus Rent Index to compare cost of living. 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. This price can vary a lot if the distance is greater and depending on how much is being moved. According to the latest BLS data, consumers average over $7,000 per year on food expenses. However, there are of course several differences as well. - People are 3.8% more likely to be married in Charlotte. You would have to earn a salary of $54,248 to maintain your current standard of living. This one is a toss-up because it depends on what matters more to you. You would have to earn a salary of $62,735 to maintain your current standard of living. There are ways to trim that down. For example, the cost of an unlimited MetroCard in New York was obtained from the. Familiarize yourself with the places where students hang out, and take advantage of discounted or bargain prices, you are sure to be able to keep your. For others, it involves driving your car, and that means factoring in car repairs, gas, tolls and parking. Core cost of living data is fromThe Cost of Living Index - COLIfrom the Council for Community and Economic Research. A movie ticket, a pint of beer, box seats at a baseball game they can all come with a different price tag depending upon where you live. analyzes the cost of living differences between Charlotte and Dallas based on five categories: grocery, healthcare, housing, miscellaneous, transportation, and utilities. Cost of Living Indexes: Charlotte, NC: Dallas, TX: Difference: Overall Index: Homeowner, No Child care, Taxes Not . Americans spend nearly the same amount each year on entertainment as they do on health insurance, according to the BLS. The cost of electricity in Texas has gone up by 1.883% in the past year. Theres also maintenance, upgrades, taxes and fees to take into account when deciding where to live. Cost of Living Comparison Between Charlotte, NCand Dallas, TX You would need around 5,982.8$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. Comparisons improve with every new data that you enter. According to the U.S. Bureau of Labor Statistics, the largest bill consumers pay each month is for housing. How is this tool different from other resources out there? and accompanying city life tool go one step further by offering information on schools, quality of life and demographics, giving users a one-stop shop to explore new cities. Hopefully you will have a smooth commute in Charlotte, North Carolina, but be prepared for delays. That's probably because we're measuring average costs for the larger metro area, not just the city limits. According to the BLS, transportation is the second-largest expense consumers have.For some, these costs include taking public transportation. living and what salary youll need to make in order to reach that standard. The data gets better with every new price that you enter. Energy costs in Charlotte,NC are generally going up. Food: Weekly trips to the grocery store can add up, especially if food costs are high where you live. To get the best mortgage loan, know how much you can afford and shop like the bargain hunter you are. , Charlotte is slightly more affordable, offering cheaper housing and utility bills. Charlotte, NC. Terms of Use and The cost of electricity can have a bigger than average impact of your overall, I am single and live in Charlotte,NC, I rent a small studio and the monthly rent is $1125 . Median 2-bedroom apartment rent. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. There are many providers and various packages that are offered, many that bundle internet, cable, and phone together. 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. 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. Expatistan is a collaborative effort. Unless youre lucky enough to work from home, you will need to factor in transportation costs when deciding where to live. Mortgage preapproval is the smartest hack to homebuying and among the most misunderstood. Here's what lenders want before they'll preapprove you for a home loan. According to the BLS, transportation is the second-largest expense consumers have.For some, these costs include taking public transportation. 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. Charlottes architectural style tends to lean more towards Mid-Century Modern, Craftsman, and European (Primarily Victorian and Italianate). In contrast to Dallas, just under half of Charlotte households rent.In terms of architectural style, Dallas features mostly Mediterranean or Ranch style homes. The biggest factors in any move are the standard of Homes tend to cost 25.98% Overall, the time and ease of your driving times will impact your, In Dallas, TX, the average commute time is about 36.14 minutes. Our cost of living calculator will help you figure out if your move will work for your budget and salary. Planning a move to another town, city or state? It's challenging to find a city that offers a great quality of life, convenience, and affordability and Dallas and Charlotte offer all of that and more. Theres also maintenance, upgrades, taxes and fees to take into account when deciding where to live. Prices for goods and services in Charlotte and Dallas are partly crowdsourced by our visitors, just like yourself. Hiring movers will be on the more expensive side. NerdWallet excluded state and local tax data because tax rates vary by state and metropolitan area, and sometimes within metropolitan area as well. So how do we make money? 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. NerdWallet excluded state and local tax data because tax rates vary by state and metropolitan area, and sometimes within metropolitan area as well. higher. If you find that the housing costs in your destination city is much higher than where you are now, it would be a good idea to research some nearby locations to find lower rents and mortgage rates. The average after-tax salary is enough to cover living expenses for 2.6 months in Charlotte compared to 1.6 months in Miami. 2023 Forbes Media LLC. Don't hesitate to reach out if you are contemplating moving and have any questions! According to the U.S. Bureau of Labor Statistics, the largest bill consumers pay each month is for housing. Both Dallas and Charlotte are large cities that require a car to get around. While other resources provide basic cost comparisons,NerdWallets cost of living calculatorand accompanying city life tool go one step further by offering information on schools, quality of life and demographics, giving users a one-stop shop to explore new cities. Charlotte, North Carolina. Demographics data (including population, age, ethnicity, education and gender breakdown) were compiled from theU.S. Census. Whether thats a mortgage or rent, a large percentage of your salary will go toward your housing expenses each month. Cities ranked 106th and 197th ($2680 vs $2489) in the list of the most expensive cities in the world and ranked 88th and 149th in the United States. If you are looking for an experienced real estate agent in Dallas to help guide you through your search, contact usto speak with local experts.Significantly more people own a home in Dallas rather than rent, which makes sense given the affordable median cost of homes in the area. 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. We believe everyone should be able to make financial decisions with confidence. Shopping there can considerably reduce, If you love sports, you will love Dallas, TX! Pre-qualified offers are not binding. How does Charlotte compare to Dallas? $1,447. Walkability and public transit scores were obtained fromWalk Score. The estimated average annual cost for child care in Dallas, Texas (based on state average), is $8759. Walkability and public transit scores were obtained from, Monthly bus pass costs were obtained from the individual websites of the public transit system for each city. You would have to earn a salary of $57,384 to maintain your current standard of living. United States vs United States According to the latest BLS data, consumers average over $7,000 per year on food expenses. higher. Theres also maintenance, upgrades, taxes and fees to take into account when deciding where to live. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Walkability and public transit scores were obtained fromWalk Score. For example, the cost of living in San Francisco is twice that of Boise, Idaho. The sales tax for Charlotte is 4.75%. Have a yard sale or find a local charitable organization and donate items you no longer use. According to the latest BLS data, consumers average over $7,000 per year on food expenses. The median property tax in North Carolina is $1,209 per year for a home worth the median value of $155,500. 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. A cost of living index allows you to directly compare what it costs to live in one area against another, helping you understand how far your money can go in each place. We believe everyone should be able to make financial decisions with confidence. You will enjoy living in Charlotte, North Carolina. Another question that is independant of my questions earlier are opinions on the housing market. 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. Pricing for various packages can vary a lot even in the same location. Significantly more people own a home in Dallas rather than rent, which makes sense given the affordable median cost of homes in the area. Private school data was obtained from the Department of Education, and average private tuition was compiled by averaging tuition across randomly selected schools in each city. Furnished accommodation in EXPENSIVE area. When evaluating offers, please review the financial institutions Terms and Conditions. Even if your employer is covering the cost of a move, there will still be costs that are not covered. Update prices. And, although Charlotte technically wins here, when compared to other cities, both Dallas and Charlotte offer a considerably low cost of living. For example, the cost of an unlimited MetroCard in New York was obtained from theMTA website. Both Dallas and Charlotte are large cities that require a car to get around. Another way to make your move easier and save money is by weeding out items you dont need anymore. The tickets are expensive and add to my entertainment expenses, increasing my, The average cost of internet access in the U.S. is $66.20 per month. NerdWallets cost of living calculator is powered by data from The Council for Community and Economic Research (C2ER). Both Dallas and Charlotte boast a well-educated population, with around 42 percent of those in Charlotte having graduated college and about a third in Dallas. The rule of thumb is not to spend more than 30% of your total income on housing. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Jeff's real estate articles and opinions have been featured on websites like Realtor.com, Fox News, U.S. News & World Reports, Inman, RISMedia, and more. Jeff may be reached directly at [emailprotected], Both the advantages of Dallas and Charlotte is explained beautifully in here. Proximity to employment is an important consideration because it can drastically impact your cost of living. The same type of job in the same type of company in Charlotte, NC will typically pay $58,996 . One tip to reduce this cost and your overall, The average cost of moving to another state is around $5,600 for a distance of 1,200 miles. This is the tax that you will pay on things that you buy. Here's how to know how much you really need. Copyright 2009-2023 Numbeo. 110$ billion vs 58$ billion 1.05$ lower cost of one single transportation ticket? There are many providers and various packages that are offered, many that bundle internet, cable, and phone together. 22% lower. But even then, the price of groceries is going to significantly influence your cost of living. Get matched with a top agent in your area. Hopefully you will have a smooth commute in Charlotte, North Carolina, but be prepared for delays. The tickets are expensive and add to my entertainment expenses, increasing my, The average cost of internet access in the U.S. is $66.20 per month. You should evaluate the options based on your usage and preferences and pick the best fit for your needs. Please consider telling us about your city. Transportation tends to cost 0.11% For others, it involves driving your car, and that means factoring in car repairs, gas, tolls and parking. A salary of $189,000 in Charlotte, North Carolina should increase to $191,464 in Dallas, Texas . Sports fans will prefer Dallas, whereas NASCAR fans will prefer Charlotte. Overall, the time and ease of your driving times will impact your. 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. But even then, the price of groceries is going to significantly influence your cost of living. Here is a list of our partners. Mortgage preapproval is the smartest hack to homebuying and among the most misunderstood. Here's what lenders want before they'll preapprove you for a home loan. Charlotte is snowier than Dallas, with an average of 4.3 inches of snow per year, whereas Dallas only sees about 1.2 inches of snow per year. Before you get the keys to your new home, you'll have to pay closing costs. NerdWallets cost of living calculator is powered by data from The Council for Community and Economic Research (C2ER). This information may be different than what you see when you visit a financial institution, service provider or specific products site. It is based on 931 prices entered by 96 different people. Especially with the New Year upon us, you may be contemplating a move or want to weigh the pros and cons of both areas. So, without further ado, let's dive into the similarities and differences between these two cities: The saying goes that everything is bigger in Texas, and Dallas is certainly no exception. Terms of Use and > Get matched with a top agent in your area. As a result, Dallas has a larger population than Charlotte, totaling about 1.3 million people, whereas Charlotte's population is approximately 850,000 people. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. When I compare Dallas to Charlotte in regards to cost of living. Consider the miscellaneous category the catch-all for all other expenses, like the price of groceries, office supplies, clothing, vet services and more. 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. Housing in Charlotte, North Carolina (United States) is 28% cheaper than in Dallas, Texas (United States) Update prices. It is important to note that a score of 100 represents the average cost of that category in the United States, and these metrics are based on Q1 2019 data. The cost of living in Charlotte is 4% more expensive than in Houston. Charlotte housing costs are 15.9% more expensive than Dallas housing costs. Comparisons improve with every new data that you enter. Get free guidance on changes you can make to afford more home, without spending more. Charlottes architectural style tends to lean more towards Mid-Century Modern, Craftsman, and European (Primarily Victorian and Italianate). lower 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. Price collection by city is conducted in strict conformance with standard specifications at specified times. You should call at least three moving companies for a moving estimate, the cost might be less than you think and you wont have to worry about a friend hurting their back trying to move your heavy furniture. Dallas Housing Options Homes For Sale New Homes Most Expensive Homes Charlotte Housing Options Homes For Sale Lowest Priced Homes than your current city. In Charlotte, North Carolina I go to a lot of Charlotte Hornets games. 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. 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. Read more from, Some stores like Kroger offer frequent discounts or loyalty programs that can save you even more at the checkout. Get free guidance on changes you can make to afford more home, without spending more. There are ways to trim that down. This is less expensive than the median home price in Charlotte, which is $265,000. There are ways to trim that down. View all the prices in Charlotte, North Carolina: Detailed prices in Charlotte, North Carolina >>, Basic lunchtime menu (including a drink) in the business district, Combo meal in fast food restaurant (big mac meal or similar), 500 gr (1 lb.) Both Dallas and Charlotte feature warm climates, with humid summers and mild winters. Since groceries are an essential part of you, I love basketball. And it adds up. This is the tax that you will pay on things that you buy. And it adds up. According to the BLS, transportation is the second-largest expense consumers have.For some, these costs include taking public transportation. Get your true budget and find a home with ease. You could eat out less, cut back on takeout and cook more often. In those areas you will be sure to find lots of free or cheap events to go to and plenty of cheap places to eat. WolframAlpha's cost of living index analyzes the cost of living differences between Charlotte and Dallas based on five categories: grocery, healthcare, housing, miscellaneous, transportation, and utilities. from the Council for Community and Economic Research. All financial products, shopping products and services are presented without warranty. Looks like this move could have a negative net change in disposable income.