Here's the salary needed to 'live comfortably' in Charlotte: SmartAsset study (2024)

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Here's the salary needed to 'live comfortably' in Charlotte: SmartAsset study? ›

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.

Cost of living in NC

According to the report, single adults need about $88,317 to live comfortably and families of four need $200,762.

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.

As a rule of thumb, a good salary in Los Angeles is between $100k and $200k gross per year. Based on the cost of living in Los Angeles, this should come down to a minimum of $76,710 yearly after taxes.

Key Findings. On average, an individual needs $96,500 for sustainable comfort in a major U.S. city. This includes being able to pay off debt and invest for the future.

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.

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.

How much does a 150K make in Charlotte, North Carolina? As of Jul 4, 2024, the average hourly pay for a 150K in Charlotte is $16.35 an hour.

The poverty rate in Charlotte was 11.6% in 2021, census data also show. Charlotte was ranked the highest in emotional and physical well-being, at No. 40.

What percent of Americans make over 100K? ›

Over one-third of American families earn $100,000 or more

The U.S. Census Bureau found that 37.1% of U.S. households earned at least $100,000 in 2022. Here's a more detailed breakdown of six-figure income brackets and the percentage of households in each one: $100,000 to $149,999: 16.9%

According to the Bureau of Labor Statistics's most recent data (May 2022), the average salary nationwide is $61,900, which means that $70,000 is a common salary — but above the national average.

$80,000 is about $5,000 higher than the U.S. median household income, so many people would consider it very good for a single person. “Good” is always a relative term when it comes to salary; whether or not the amount you earn covers your expenses is a highly personal dynamic.

Do not subtract other amounts that may be withheld or automatically deducted, like health insurance or retirement contributions. Those will become part of your budget. The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings.

To account for this, experts suggest you multiply your desired retirement income by 25 times. So if you want to retire on $20,000 a year, you would need $500,000 saved to live comfortably and never have to work again. Retirement spending also depends on your lifestyle choices.

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.