The time you spend commuting is time you do not have to do other things, so it is valuable. Americans spend nearly the same amount each year on entertainment as they do on health insurance, according to the BLS. Hopefully you will have a smooth commute in Charlotte, North Carolina, but be prepared for delays. 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 . Housing costs: According to the U.S. Bureau of Labor Statistics, the largest bill consumers pay each month is for housing. The quote I got was on a 300k home in Dallas, it would cost about 7k in property taxes. Before you get the keys to your new home, you'll have to pay closing costs. For others, it involves driving your car, and that means factoring in car repairs, gas, tolls and parking. Your use of this service is subject to our. Both Dallas and Charlotte feature warm climates, with humid summers and mild winters. This price can vary a lot if the distance is greater and depending on how much is being moved. 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. The average time for commuting in Charlotte is 38.02 minutes. 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. In Dallas,TX, my friend pays $1110 for a large 2 bedroom apartment. You might be using an unsupported or outdated browser. If you are looking for an experienced real estate agent in Dallas to help guide you through your search. Just like with food costs, you can curb how much you spend on entertainment by altering your behavior. Pre-qualified offers are not binding. A low rate can save you hundreds each year. To maintain your standard of living in Charlotte, The weather in Charlotte is ideal. Theres also maintenance, upgrades, taxes and fees to take into account when deciding where to live. Price collection by city is conducted in strict conformance with standard specifications at specified times. North Carolina counties collect an average of 0.78 percent of property's estimated fair market value as property tax. The median property tax in Teas is $2,275 per year for a home worth the median value of $125,800. Your lifestyle and what you prioritize will also play into whether a particular destination is suitable for your salary and ideal cost of living. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. Employers in Dallas, TX typically pay 1.7% more than employeers in Charlotte, NC. There are many providers and various packages that are offered, many that bundle internet, cable, and phone together. Here is a list of our partners. 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. household income of: The cost of living is 3.98% 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 weather in Dallas is ideal. Median 2-bedroom apartment rent. Significantly more people own a home in Dallas rather than rent, which makes sense given the affordable median cost of homes in the area. Just like with food costs, you can curb how much you spend on entertainment by altering your behavior. For others, it involves driving your car, and that means factoring in car repairs, gas, tolls and parking. How Much Down Payment Do You Need to Buy a Home. 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. Do these housing costs seem low to you? lower in Charlotte, The same type of job in the same type of company in Houston, TX will typically pay $62,782 . The rule of thumb is not to spend more than 30% of your total income on housing. While other resources provide basic cost comparisons. 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.) What is the breakdown of the cost of living? Dallas is larger in size and slightly cheaper of the two surely is tempting. Weekly trips to the grocery store can add up, especially if food costs are high where you live. Price collection by city is conducted in strict conformance with standard specifications at specified times. Whether thats a mortgage or rent, a large percentage of your salary will go toward your housing expenses each month. 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. 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 $1125 . Cost of Living Comparison Between Dallas, TXand Charlotte, NC You would need around 6,466.9$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. Core cost of living data is fromThe Cost of Living Index - COLIfrom the Council for Community and Economic Research. You should factor this commuting time into your overall. Hiring movers will be on the more expensive side. The cost of living calculated as a consumer basket for a moderate lifestyle in developed countries and thus might seem too high for some least developed countries where maintaining such a standard of living is expensive. Make sure you include these moving costs into the overall. Dallas tends to get very hot in the summer, more so than Charlotte, but it also has lower humidity and less rain. Corresponding graduation rates for both cities are included in the chart below: Both Dallas and Charlotte are predominantly liberal. 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. If you plan to drive to work, also do some research on average traffic in your destination town or city. The cost of a monthly transit pass in Charlotte, NC is around $88.00. More traffic means more gas spent. - Charlotte housing costs are 16.0% more expensive than Dallas housing costs. 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. This is the tax that you will pay on things that you buy. 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. There are ways to trim that down. 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. Source: Wikipedia (as of 04/11/2019). 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. $1,447. , Charlotte is slightly more affordable, offering cheaper housing and utility bills. When evaluating offers, please review the financial institutions Terms and Conditions. Some employers have company provided day care centers that let you bring your child to work with you and receive care on site. 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. And, although Charlotte technically wins here, when compared to other cities, both Dallas and Charlotte offer a considerably low cost of living. The sales tax for Charlotte is 4.75%. Coming up with the cash for a down payment is the biggest roadblock for most home buyers. Overall, the time and ease of your driving times will impact your. Renting a truck or renting a moving container is usually cheaper but requires more work. 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. To get the best mortgage loan, know how much you can afford and shop like the bargain hunter you are. All Rights Reserved. But even then, the price of groceries is going to significantly influence your cost of living. Diff. You would have to earn a salary of $57,384 to maintain your current standard of living. The weather, traffic, time of year, day of week and if there are accidents, can all impact your commute time. Demands for a living wage that is fair to workers have resulted in numerous location-based changes to minimum wage levels. Get free guidance on changes you can make to afford more home, without spending more. Americans spend nearly the same amount each year on entertainment as they do on health insurance, according to the BLS. NerdWallet excluded state and local tax data because tax rates vary by state and metropolitan area, and sometimes within metropolitan area as well. When evaluating offers, please review the financial institutions Terms and Conditions. There are many providers and various packages that are offered, many that bundle internet, cable, and phone together. Comparisons improve with every new data that you enter. Especially with the New Year upon us, you may be contemplating a move or want to weigh the pros and cons of both areas. from the Council for Community and Economic Research. The biggest factors in any move are the standard of 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. 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. 2023 Forbes Media LLC. Even if your employer is covering the cost of a move, there will still be costs that are not covered. 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. To get the best mortgage loan, know how much you can afford and shop like the bargain hunter you are. Disclaimer: NerdWallet strives to keep its information accurate and up to date. But even then, the price of groceries is going to significantly influence your cost of living. 110$ billion vs 58$ billion 1.05$ lower cost of one single transportation ticket? This information may be different than what you see when you visit a financial institution, service provider or specific products site. To maintain your standard of living in Charlotte, NC, you'll need a household income of: $44,229 The cost of living is 12% lower in Charlotte, NC See Charlotte's complete City Life. Health related expenses are 3.2% less in Charlotte. For others, it involves driving your car, and that means factoring in car repairs, gas, tolls and parking. The cost of living in Charlotte is 4% more expensive than in Houston. than your current city. $3,492. But even then, the price of groceries is going to significantly influence your cost of living. One tip to reduce this cost and your overall, The average cost of moving to another state is around $5,600 for a distance of 1,200 miles. Homes tend to cost 25.98% The data gets better with every new price that you enter. 80.00$ vs 96.00$ 52$ billion higher GDP (PPP)? 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. 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. For example, the cost of an unlimited MetroCard in New York was obtained from theMTA website. Both Dallas and Charlotte are among the fastest-growing metropolitan areas in the United States, with Dallas' metropolitan area comprising 6.25 million people and Charlotte's metro area comprising more than 2.5 million people. Pre-qualified offers are not binding. Drivers will, on average, spend around 95 hours per year sitting in traffic, according to the Global Traffic Scorecard. Cost of living is also tied to income, as salary levels in a geographic area are measured against these expenses. According to the latest BLS data, consumers average over $7,000 per year on food expenses. Your use of this service is subject to our It is based on 931 prices entered by 96 different people. Americans spend nearly the same amount each year on entertainment as they do on health insurance, according to the BLS. The Charlotte metropolitan area is part of a sixteen-county market region or combined statistical area with a 2016 census-estimated population of 2,632,249. For example, the cost of an unlimited MetroCard in New York was obtained from the. Some colleges and universities with Childhood Education programs also may have day care centers available at reduced costs, so you should explore those possibilities to see if you can reduce your child care expense. Disclaimer: NerdWallet strives to keep its information accurate and up to date. 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. For others, it involves driving your car, and that means factoring in car repairs, gas, tolls and parking. Jeff may be reached directly at [emailprotected], Both the advantages of Dallas and Charlotte is explained beautifully in here. > The cost of living in Charlotte is 10% less expensive than in Dallas. Have a yard sale or find a local charitable organization and donate items you no longer use. - The Median Age is 1.4 years older in Charlotte. Privacy Policy. Cost of living is the amount of money you need to sustain a certain lifestyle in a given place. Here is a list of our partners. Why bother to move stuff that you do not even use! If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. Thinking about moving to another city? Use the link below to embed the infographic from our site and automatically keep the data layer up to date. analyzes the cost of living differences between Charlotte and Dallas based on five categories: grocery, healthcare, housing, miscellaneous, transportation, and utilities. How To Find The Cheapest Travel Insurance. That's probably because we're measuring average costs for the larger metro area, not just the city limits. 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. Some people purchase a season ticket with a group of friends and take turns going to the games. Food: Weekly trips to the grocery store can add up, especially if food costs are high where you live. Food: Weekly trips to the grocery store can add up, especially if food costs are high where you live. Proximity to employment is an important consideration because it can drastically impact your cost of living. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. When I compare Dallas to Charlotte in regards to cost of living. Cost of Living Indexes: Charlotte, NC: Dallas, TX: Difference: Overall Index: Homeowner, No Child care, Taxes Not . 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. The cost of living in Dallas is higher than in Charlotte. Since there are football, baseball, basketball, hockey teams, you can go to a lot of games. Your use of this service is subject to our, Meal for 2 People, Mid-range Restaurant, Three-course, McMeal at McDonalds (or Equivalent Combo Meal), Beef Round (1kg) (or Equivalent Back Leg Red Meat), Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car), Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car), Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment, 1 min. Unless youre lucky enough to work from home, you will need to factor in transportation costs when deciding where to live. How is this tool different from other resources out there? Core cost of living data is fromThe Cost of Living Index - COLIfrom the Council for Community and Economic Research. Get matched with a top agent in your area. Shopping there can considerably reduce, If you love sports, you will love Dallas, TX!