Charlotte, NC
Mecklenburg County · Pop. 897,720
Ranked #126 of 243 cities
38Crisis
Median Home Price
🏠$380K
4.5% YoY
Median Rent
🔑$1,550
3.8% YoY
Median Income
💰$62K
Rent Burden
📊32.0%
% of income to rent
Income to Buy
🏦$109K
annual income needed
Income to Rent
📝$62K
annual income needed
Price-to-Income
⚖️6.1x
Homeownership
🏡54.0%
Rent vs. Buy
Buy
$2,023/mo
Est. mortgage (7%, 20% down)
Need $109K/yr income
Rent
$1,550/mo
Median rent
Need $62K/yr income
How Charlotte Compares
| Metric | Charlotte | North Carolina | National |
|---|---|---|---|
| Home Price | $380K | $309K | $410K |
| Rent | $1,550 | $1,245 | $1,500 |
| Income | $62K | $71K | $75K |
| Rent Burden | 32.0% | 31.5% | 30.0% |
Key Takeaways
- • Home prices in Charlotte are 7% lower than the national average.
- • Rent is 3% higher than the national average.
- • You need an income of $109K to comfortably buy a home here.
- • The homeownership rate is 54.0%, compared to 65.0% nationally.