Comprehensive salary data, cost of living, and employment information for Charlotte, North Carolina. Population: 874,579.
Reviewed by Alexander O.M., MBA, BSc Engineering•Updated
Charlotte's $68,367 median household income runs above the national average, and the city's cost-of-living index of 100 sits exactly at the national baseline — a combination that produces stronger effective purchasing power than any other US top-20 metro. Charlotte is the second-largest banking hub in the country by assets, anchored by Bank of America's global headquarters, a major Wells Fargo presence (Charlotte is the primary US base for Wells Fargo's institutional operations), and Truist (the 2019 merger of BB&T and SunTrust) headquartered there. The financial-services cluster employs over 80,000 people in the metro. Healthcare is the second major sector (Atrium Health, Novant Health) and Lowe's hardware is headquartered in nearby Mooresville. Charlotte has also attracted a growing fintech and insuretech cluster, leveraging the financial-services base. North Carolina's flat 4.5% state income tax is scheduled to phase down toward 3.99%. Charlotte is also one of the fastest-growing US cities by domestic in-migration, particularly from higher-cost Northeast metros. Full breakdown below.
Median Individual
$39,610
per year
Median Household
$68,367
per year
Cost of Living
100
Average (US avg = 100)
Population
1K
Salary Breakdown for Charlotte
The median individual income in Charlotte is $39,610 per year, which works out to approximately $3,301/month or $19.04/hour for full-time workers. The median household income is $68,367.
Cost of Living Adjusted Salary
Charlotte's cost of living index is 100 (national average = 100). The median salary of $39,610 in Charlotte has the purchasing power of approximately $39,610 at the national average cost of living. Charlotte is roughly in line with the national average, making it a balanced option for salary vs expenses.