Pew Research Center data shows that middle-class income growth has lagged behind upper-class gains since 1970, reducing the middle class’s share of household income, but some cities have it much better than others. If you’re curious what buying a home in Charlotte would look like for you, you can explore today’s 30-year fixed mortgage rates in North Carolina with Tomo Mortgage.A new study by GOBankingRates ranked the all the cities in America using US Census data to find the median household income and the annual cost of living for homeowners in each city (which includes grocery costs, housing costs, monthly mortgages, transportation, and other miscellaneous costs).
Note that a positive “cost-adjusted median income” represents the money left over after cost of living; a negative amount indicates families do not have enough to cover the cost of living.
Key findings for Charlotte include:
- The household median income before cost of living adjustments in Charlotte is $74,070.
- The household median income after cost of living adjustments in Charlotte is $22,700.
Top 50 Cities To Live In With A Median Household Income
| Rank | City | Median Household Income | Cost-Adjusted Median Income | Average Home Value |
|---|---|---|---|---|
| 1 | San Jose, California | $136,010 | -$59,995 | $1,509,775 |
| 2 | San Francisco, California | $136,689 | -$53,224 | $1,395,689 |
| 3 | San Diego, California | $98,657 | -$30,864 | $1,137,772 |
| 4 | Los Angeles, California | $76,244 | -$23,789 | $1,007,659 |
| 5 | Seattle, Washington | $116,068 | -$15,834 | $930,981 |
| 6 | Long Beach, California | $78,995 | -$15,668 | $900,918 |
| 7 | New York, New York | $76,607 | -$14,839 | $782,625 |
| 8 | Oakland, California | $94,389 | -$11,216 | $832,773 |
| 9 | Boston, Massachusetts | $89,212 | -$8,959 | $801,196 |
| 10 | Washington, District of Columbia | $101,722 | -$3,016 | $709,467 |
| 11 | Miami, Florida | $54,858 | +$1,655 | $652,144 |
| 12 | Denver, Colorado | $85,853 | +$7,946 | $601,778 |
| 13 | Portland, Oregon | $85,876 | +$11,064 | $549,592 |
| 14 | Austin, Texas | $86,556 | +$11,546 | $550,856 |
| 15 | Sacramento, California | $78,954 | +$14,468 | $486,093 |
| 16 | Las Vegas, Nevada | $66,356 | +$17,402 | $449,356 |
| 17 | Atlanta, Georgia | $77,655 | +$18,196 | $441,737 |
| 18 | Mesa, Arizona | $73,766 | +$18,874 | $449,109 |
| 19 | Nashville, Tennessee | $71,328 | +$19,474 | $444,178 |
| 20 | Phoenix, Arizona | $72,092 | +$19,949 | $428,799 |
| 21 | Colorado Springs, Colorado | $79,026 | +$19,994 | $458,947 |
| 22 | Raleigh, North Carolina | $78,631 | +$20,174 | $449,230 |
| 23 | Virginia Beach, Virginia | $87,544 | +$20,952 | $416,429 |
| 24 | Charlotte, North Carolina | $74,070 | +$22,694 | $406,095 |
| 25 | Bakersfield, California | $73,827 | +$22,864 | $392,267 |
| 26 | Fresno, California | $63,001 | +$22,915 | $391,533 |
| 27 | Dallas, Texas | $63,985 | +$26,777 | $326,105 |
| 28 | Chicago, Illinois | $71,673 | +$27,187 | $310,088 |
| 29 | Minneapolis, Minnesota | $76,332 | +$27,378 | $337,363 |
| 30 | Arlington, Texas | $71,736 | +$27,488 | $317,951 |
| 31 | Tucson, Arizona | $52,049 | +$28,231 | $340,764 |
| 32 | Fort Worth, Texas | $72,726 | +$28,567 | $303,062 |
| 33 | Jacksonville, Florida | $64,138 | +$28,934 | $306,835 |
| 34 | Albuquerque, New Mexico | $61,503 | +$29,499 | $334,404 |
| 35 | Houston, Texas | $60,440 | +$30,841 | $272,279 |
| 36 | Omaha, Nebraska | $70,202 | +$31,168 | $280,961 |
| 37 | Philadelphia, Pennsylvania | $57,537 | +$31,883 | $217,897 |
| 38 | Columbus, Ohio | $62,994 | +$33,499 | $261,636 |
| 39 | San Antonio, Texas | $59,593 | +$33,656 | $257,044 |
| 40 | Louisville, Kentucky | $63,114 | +$33,974 | $248,532 |
| 41 | Kansas City, Missouri | $65,256 | +$34,679 | $239,547 |
| 42 | Indianapolis, Indiana | $59,110 | +$35,782 | $231,898 |
| 43 | El Paso, Texas | $55,710 | +$36,504 | $224,164 |
| 44 | Milwaukee, Wisconsin | $49,733 | $36,519 | $207,494 |
| 45 | Oklahoma City, Oklahoma | $64,251 | $36,658 | $205,023 |
| 46 | Baltimore, Maryland | $58,349 | $36,688 | $185,383 |
| 47 | Tulsa, Oklahoma | $56,648 | $36,898 | $209,866 |
| 48 | Wichita, Kansas | $60,712 | $37,586 | $200,864 |
| 49 | Memphis, Tennessee | $48,090 | $41,402 | $147,747 |
| 50 | Detroit, Michigan | $37,761 | $42,423 | $73,654 |
