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Old 08-31-2015, 11:50 AM
 
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That's according to the Economic Policy Institute's (EPI) 2015 Family Budget Calculator, which measures the annual cost of necessities for one adult to live a secure, yet modest, lifestyle by estimating the costs of housing, food, transportation, health care, other necessities, and taxes.

(Read the EPI's full methodology for the budget calculator.)

The EPI gathered data in 618 metro areas throughout the the US for several different family types. Here, we've highlighted the cost of living for a single person (one adult, zero children) in 24 major US cities.

Consider these monthly and annual costs if you're looking to start a city life, and remember, these estimates do not include savings or discretionary spending...


http://finance.yahoo.com/news/much-c...170000199.html
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Old 08-31-2015, 04:44 PM
 
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Neat.

One flaw in the methadology is that it doesn't include accounting for the cost of living outside of the metro area. I know that this impacts each city on the list, but would assume that the areas 30 minutes from Charlotte are significantly cheaper than the areas 30 minutes from many of the other names on that list.

One of the blessings (and curses) of our area is how cheap housing is available just a 30 minute drive from the city. a We are obviously starting to see some of the inevitable consequences of that growth (mainly traffic congestion) but all-in-all it is a huge benefit for many families that need more space and still want to enjoy other offerings of the city. I don't think our city is #14 when accounting for that- in some lists, it is still considered the best "bargain" as far a cities go.

Funny how the methodology really matters.

Money magazine calls Charlotte 'Best Big Bargain City'
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Old 08-31-2015, 04:59 PM
 
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The only thing that was cheaper in Charlotte relative to MA was housing cost and taxes, and those are changing fast. I can't believe how the rents have increased in the last few years. I'm looking jump somewhere with lower living costs, but there are few job options down here in the south...
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Old 08-31-2015, 05:09 PM
 
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Quote:
Originally Posted by monkeyboy View Post
The only thing that was cheaper in Charlotte relative to MA was housing cost and taxes, and those are changing fast. I can't believe how the rents have increased in the last few years. I'm looking jump somewhere with lower living costs, but there are few job options down here in the south...

According to this cost of living calculator that accounts for Groceries, Utilities, Housing, Healthcare and Transportation, each area in Massachusetts is more expensive than Charlotte (Pittsfield, Framingham-Natick, Fitchburg-Leominster, Boston).

What were the other things you were considering that you felt were cheaper?

Definitely agree rents are up. What do you do where job options are limited in the south? Isn't the south the fastest growing region in the United States?
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Old 09-01-2015, 05:35 PM
 
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Agreed that most of the other are more expensive in MA, but they aren't a huge piece of the budget. Housing and food are the big budget items. I don' think food is any cheaper down, here, but there does seem to be more options on organic. I'm an engineer, most of the big firms are in larger cities. So far I haven't been impressed with the companies I've worked for down here. Small firms, poorly organized, not great technically...I'd move back to a norther city, but the economics just don't work...
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Old 09-01-2015, 07:43 PM
 
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Originally Posted by monkeyboy View Post
Agreed that most of the other are more expensive in MA, but they aren't a huge piece of the budget. Housing and food are the big budget items. I don' think food is any cheaper down, here, but there does seem to be more options on organic. I'm an engineer, most of the big firms are in larger cities. So far I haven't been impressed with the companies I've worked for down here. Small firms, poorly organized, not great technically...I'd move back to a norther city, but the economics just don't work...
I think most people will admit that food is probably more expensive here. But the biggest expenses such as housing costs/utilities/car insurance in my experience are much less and more than make up for it.
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Old 09-01-2015, 09:40 PM
 
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Originally Posted by GoPhils View Post
I think most people will admit that food is probably more expensive here. But the biggest expenses such as housing costs/utilities/car insurance in my experience are much less and more than make up for it.
Charlotte car insurance is jumping and quick. Rated like worst for drivers and rates are supposedly going up because of it.
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Old 09-01-2015, 09:55 PM
 
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According to this:



NC has the lowest car insurance rates in the country. So while Charlotte rates are higher than the state average, they're still lower than pretty much anywhere else.
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Old 09-02-2015, 05:15 AM
 
Location: Southport
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Quote:
Originally Posted by monkeyboy View Post
Agreed that most of the other are more expensive in MA, but they aren't a huge piece of the budget. Housing and food are the big budget items. I don' think food is any cheaper down, here, but there does seem to be more options on organic. I'm an engineer, most of the big firms are in larger cities. So far I haven't been impressed with the companies I've worked for down here. Small firms, poorly organized, not great technically...I'd move back to a norther city, but the economics just don't work...
A generally accepted rule of thumb is that 75% of the cost of living differential between any 2 locations is made up of housing and taxes. Everything else is 25%
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Old 09-02-2015, 05:47 AM
 
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Originally Posted by GoPhils View Post
According to this:



NC has the lowest car insurance rates in the country. So while Charlotte rates are higher than the state average, they're still lower than pretty much anywhere else.
I know its still low but it is going up. Charlotte actually cracked the top 25 for the first time in car insurance cost. The state laws keep it low though which is nice. No fault states it gets high because your insurance is on the hook everytime.
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