More Than $60k Per Year Salary Is Needed To Afford Rent In Charlotte

A new study has me thinking a little differently this morning. A new study shows that you would need to earn more than $60k per year to afford rent in Charlotte.

Smart Asset conducted a study on the 25 biggest cities in the country. In each city, they compiled a list of average rent prices for a 1 and a 2-bedroom apartment and technically how much you would need to earn in order to afford rent. Inflation is rising faster than we can blink and so is gentrification. We have seen Charlotte gentrified in ways that a lot of us may or may not agree. We've seen communities, a lot of them black communities, almost forced out and out-of-state developers are coming in and now we are seeing the effects of it.

A lot of residents, I've heard, are being offered big, yet unfair amounts, to move from where they have called home for decades. This is one of the reasons, in my opinion, the light rail was extended outside of the city to give those living further outside access to the city. Gentrification has resulted in extremely high rent prices.

According to Smart Asset, the average rent price in Charlotte is $1,435. With this average rent price, you would need to earn $61,479 to afford a 1-bedroom apartment. If you need a 2-bedroom, according to this same study, you would need to earn $70,582.

I decided to look up the median income for the City of Charlotte. According to the US Census, the median income is $65,359. The per capita income is $39,834. The per capita income, according to the US Census is "the mean income computed for every man, woman, and child in a particular group including those living in group quarters". In my mind, rent is almost unaffordable for a lot of people. We need more businesses to come to the city and create additional jobs so our citizens can earn more money. Would you agree?

Are you a business owner? If not, you may want to think about switching your career. A new study shows North Carolina is the best place to quit your job and start up a business. What business ideas do you have? There has been a list of states in the US that have been listed as the top states to quit your job and start your own business and that business becomes successful.

Finance Buzz recently released an article with the top 20 states best to quit your job and start a business. Luckily North Carolina made it to No. 1. Can you guess what other states are great to head to if you want to be a business owner? See what Finance Buzz put together for you entrepreneurs. Find out what other states made the top of the list and see where your favorite may end up. Check out which states made the top 6 below.

This state has the second-best economy in America and it also ranked in the top 10 for infrastructure.

This state ranked 2 best state because of its workforce. Texas also has no income tax or corporate tax but it does impose a 6.25% sales tax which could help the business that you start.

Colorado has the best workforce in the country which makes it an enticing place to start a new business.

What makes Virginia appealing to new companies is the fact that it ranks sixth in business friendliness and they also rank second in education which could give new business owners some educated workers.

Washington ranks second in the US for technology and innovation which isn't shocking since companies like Amazon, Microsoft, and T Mobile have their headquarters there.

North Carolina ranked number one in CNBC's state economics rankings which factors into things like job growth and credit rating.  It's also a headquarter for companies such as Bank of America and Lowe's.