Single? Here’s How Much You Have To Make To Live Comfortably In Charlotte
Single and live in a city? Proceed with caution when reading then. This may make you depressed or infuriated or both when it comes to what you need to make on a single salary in Charlotte to live comfortably. It’s common knowledge that single individuals are at a huge disadvantage when it comes to finances. The cost of living these days feels next to impossible for those without dual incomes. I truly can’t imagine trying to makes ends meet as a single parent in this economy. Major respect to anyone who is doing that!
And sure a “comfortable living” looks very different for everyone. Where you choose to live can be a big factor in this. But in general, a step above simply making ends meet -living comfortably- equates to the ability to cover one’s basic expenditures while still having enough money for leisure, savings, and potentially even investing.
This is exponentially easier for couples who typically are dual-income households. but when you’re a single person, you need to make more since you aren’t splitting expenses like housing, bills, etc with another individual in most cases. But just how much do you need to make for a single salary in Charlotte?
The experts at GoBankingRates.com set out to find out the salary that singles need to live comfortably in 100 major U.S. cities. To do this they sourced data on “population, total households and median household income”, from the U.S. Census American Community Survey.
Then following the 50/30/20 rule that states rent should be no more than 50% of your income (side note that is IMPOSSIBLE these days), the cost of living was doubled to find the salary needed to afford a comfortable living in each city.
And here is how the data looked for the 5 largest North Carolina cities. As I said previously, proceed with caution. As a single individual, I don’t make anywhere near the amount needed for Charlotte. But at least my stress is validated and it’s not my spending habits.
What Do You Need To Make As A Single Salary In Charlotte To Live Comfortably?
24. Winston-Salem, North Carolina
- Salary needed to live comfortably: $78,367
- Median household income: $54,416
- Average monthly cost of living: $3,265
27. Greensboro, North Carolina
- Salary needed to live comfortably: $79,181
- Median household income: $55,051
- Average monthly cost of living: $3,299
49. Charlotte, North Carolina
- Salary needed to live comfortably: $100,499
- Median household income: $70,333
- Average monthly cost of living: $4,187
51. Durham, North Carolina
- Salary needed to live comfortably: $100,570
- Median household income: $71,774
- Average monthly cost of living: $4,190
63. Raleigh, North Carolina
- Salary needed to live comfortably: $106,529
- Median household income: $78,631
- Average monthly cost of living: $4,439
I can and well say it until I lose my voice, something has to give with this inflation not keeping up with salaries/the cost of living. This is just more fuel to the fire when it comes to that. If you’re not out here struggling please let me know how you’re doing it!
You can read the full study from GoBankingRates here.