Charlotte's Six-Figure Salary Requirement - Crisis Assistance Ministry (2024)

FAQs

What salary do you need to live comfortably in Charlotte, NC? ›

Using this model and data from the MIT Living Wage Calculator, SmartAsset found that a single adult in Charlotte would need an annual income of $101,338 or an hourly wage of $48.72 to live comfortably here.

A family of four estimated monthly costs are 4,663.2$ without rent. A single person estimated monthly costs are 1,288.6$ without rent. Charlotte is 23.4% less expensive than New York (without rent). Rent in Charlotte is, on average, 48.2% lower than in New York.

The minimum wage in North Carolina is currently $7.25 an hour.

The NC middle class

Here's how much you would need to earn to be considered middle class in North Carolina, according to GOBankingRates: 2022 middle-class income range: $44,124 to $132,372.

A separate study recently released by SmartAsset showed that the average person making an annual income of $100,000 in Charlotte is actually taking home about $76,750 after adjusting for taxes and cost of living.

In 2023, the federal poverty level definition of low income for a single-person household is $14,580 annually. Each additional person in the household adds $5,140 to the total. For example, the poverty guideline is $30,000 per year for a family of four.

How much does an Upper Class make in North Carolina? As of Jul 8, 2024, the average annual pay for the Upper Class jobs category in North Carolina is $50,093 a year. Just in case you need a simple salary calculator, that works out to be approximately $24.08 an hour. This is the equivalent of $963/week or $4,174/month.

According to the North Carolina Justice Center, in 2019 the federal poverty guideline was $25,750 combined income for a family or household of four.

In Charlotte, you'll need to earn $129,044 or more to be considered a “rich” person in the top 20% of the city's over 850,000 residents. In Raleigh, you'd need to make at least $131,513. Charlotte's ultra-rich, or the top 5% of earners, make way more: $483,726 on average, according to the analysis.

Is it cheaper to buy or rent in Charlotte NC? ›

According to the real estate website, Trulia, it is more cost-effective to buy a house in Charlotte than it is to rent in Charlotte by a factor of nearly 40%.

According to mylifeelsewhere.com, Florida is 4.0% more expensive than North Carolina overall in terms of restaurants, entertainment, and groceries, making it a very attractive destination for many people. In comparison to Florida, living expenses in North Carolina are relatively lower.

$12 (Median Total Pay)

The estimated total pay range for a Crew Member at McDonald's is $11–$13 per hour, which includes base salary and additional pay. The average Crew Member base salary at McDonald's is $12 per hour.

Average Walmart hourly pay ranges from approximately $11.00 per hour for Cashier/Stocker to $24.08 per hour for Optician. The average Walmart salary ranges from approximately $20,580 per year for TLE Associate to $87,475 per year for Merchant.

The 2024 minimum wage in North Carolina is $7.25 an hour for employers. According to the US Labor Law Center , these are the previous and current minimum wage rates for the state of North Carolina.

Homebuyers in Charlotte need to make $111,051 to afford a mortgage, which is nearly double what it was four years ago: Income needed to afford a mortgage in 2024: $111,051. Change in needed income since 2020: $55,239.

Last year, Charlotte had a calculation of $72,985 and landed at No. 29 on SmartAsset's list of 76 cities. A similar study by SmartAsset pegged the value of a $250,000 salary here at $170,139.

North Carolina's top 1% of earners make at least $560,000 — one of the lowest thresholds in the country to be considered among the richest in a state, according to a new SmartAsset analysis of IRS tax filer data. That's nearly $100,000 less than the national average of $653,000.