Matthews is considered moderately expensive in 2025, with average rent for a 2-bedroom apartment at $1,750 and slightly higher property taxes and HOA fees compared to the national average.
Imagine Lila, a young professional who just accepted a job offer in Matthews, NC. As she begins apartment hunting and budgeting for her new life, the reality of the cost of living in this charming Charlotte suburb starts to sink in. From rent and utilities to groceries and lifestyle expenses, Lila quickly realizes that creating a realistic monthly budget is essential for a smooth transition.
In this comprehensive guide, we’ll break down the key factors that contribute to the cost of living in Matthews, NC in 2025. Whether you’re a newcomer like Lila or a long-time resident looking to re-evaluate your expenses, understanding these costs is crucial for maintaining a comfortable lifestyle in this growing community.
Housing Costs in Matthews
Housing is typically the largest expense for most households, and Matthews is no exception. In 2025, the average rent for a 2-bedroom apartment in Matthews hovers around $1,750 per month. However, this can vary depending on the neighborhood and property type. For example, newer luxury apartments in the downtown area may command higher rents, while older complexes or those further from the city center may be more affordable.
For those looking to purchase a home, the median price for a 3-bedroom house in Matthews is approximately $450,000. Again, this can fluctuate based on location, square footage, and amenities. Some popular neighborhoods, such as Plantation Estates and Weddington Trace, tend to have higher home prices due to their desirable features and proximity to top-rated schools.
It’s also important to factor in additional housing costs, such as homeowners association (HOA) fees. Many neighborhoods in Matthews have HOAs that charge monthly or annual dues for maintaining common areas and amenities. These fees can range from $100 to $500 per month, depending on the community and its offerings.
Utilities and Energy Bills
Utility costs in Matthews are relatively in line with the national average. For a typical 2-bedroom apartment, residents can expect to pay around $150 per month for electricity, gas, water, and trash combined. However, these costs can spike during the summer months due to increased air conditioning usage to combat the humid North Carolina heat.
| Utility | Average Monthly Cost |
|---|---|
| Electricity | $90 |
| Gas | $30 |
| Water | $30 |
| Trash | $20 |
Groceries and Daily Expenses
The average grocery bill for a single person in Matthews is around $300 per month, while a family of four can expect to spend closer to $900. These estimates include basic necessities like food, toiletries, and cleaning supplies. To put this into perspective, a gallon of milk typically costs $3.50, a dozen eggs $2.75, and a loaf of bread $2.50.
Dining out can also add to your monthly expenses. A meal at a mid-range restaurant in Matthews averages $15 per person, while a fast-food combo meal is around $8. Keep in mind that these costs can add up quickly, especially if you frequently eat out or order takeout.
Taxes and Hidden Fees
Matthews residents pay a property tax rate of 0.28%, which is slightly higher than the national average. For a home valued at $450,000, this translates to an annual property tax bill of approximately $1,260. Additionally, North Carolina has a state income tax rate of 5.25%, which is important to factor into your overall budget.
Other hidden fees to consider include vehicle registration and car taxes. In Matthews, the annual vehicle registration fee is $38.75, and the county assesses a vehicle property tax based on the car’s value. For example, a car valued at $20,000 would have an annual vehicle property tax of around $140.
Monthly Budget Summary
| Expense Category | Single Person | Couple | Family of Four |
|---|---|---|---|
| Housing (Rent/Mortgage) | $1,200 | $1,750 | $2,500 |
| Utilities | $120 | $150 | $200 |
| Groceries | $300 | $600 | $900 |
| Transportation | $200 | $300 | $400 |
| Miscellaneous | $300 | $500 | $700 |
| Total Monthly Budget | $2,120 | $3,300 | $4,700 |
Based on these estimates, a comfortable lifestyle in Matthews may require a gross monthly income (pre-tax) of around $3,200 for a single person, $4,950 for a couple, and $7,050 for a family of four. Keep in mind that these figures are averages and can vary depending on your specific circumstances and lifestyle choices.
Lifestyle Considerations
When evaluating the cost of living in Matthews, it’s essential to consider the lifestyle factors that can impact your budget. For example, commute times can play a significant role in your transportation expenses. Matthews is located about 12 miles southeast of Charlotte, and many residents commute to the city for work. This can result in higher gas costs and potentially tolls if using the I-485 Express Lanes.
On the other hand, Matthews offers a variety of amenities that can help offset some costs. The town boasts numerous parks, greenways, and recreational facilities, providing low-cost or free entertainment options for residents. Additionally, Matthews has a strong sense of community, with regular events and festivals that bring neighbors together.
Ultimately, the decision to live in Matthews often comes down to a balance between affordability and quality of life. While the cost of living may be slightly higher than some surrounding areas, many residents find that the town’s charm, excellent schools, and convenient location make it a worthwhile investment.
Frequently Asked Questions
- Q: Is Matthews more expensive than Charlotte?
A: In general, Matthews tends to be slightly more expensive than Charlotte, particularly in terms of housing costs. However, the difference is not significant, and many people find that the benefits of living in Matthews outweigh the slightly higher expenses. - Q: Are there any ways to save on utility costs in Matthews?
A: One way to reduce utility bills is to invest in energy-efficient appliances and light bulbs. Additionally, setting your thermostat a few degrees higher in the summer and lower in the winter can help you save on heating and cooling costs. - Q: How much should I budget for entertainment and dining out in Matthews?
A: The amount you budget for entertainment and dining out will depend on your personal preferences and lifestyle. As a general rule, aim to allocate no more than 10-15% of your monthly income to these categories to maintain a balanced budget. - Q: Are there any affordable neighborhoods in Matthews?
A: While housing costs in Matthews are generally higher than the national average, there are still some affordable options. Neighborhoods like Sardis Forest and Matthews Estates offer more budget-friendly homes and apartments compared to the newer, luxury developments in the area. - Q: How does the cost of living in Matthews compare to other Charlotte suburbs?
A: Matthews is generally comparable to other popular Charlotte suburbs like Huntersville and Mint Hill in terms of overall living costs. However, some areas like Ballantyne and Weddington may have slightly higher housing expenses due to their more upscale reputation.
As Lila settles into her new life in Matthews, she quickly learns that careful budgeting and an understanding of the local cost of living are essential for long-term financial stability. By factoring in housing, utilities, groceries, taxes, and lifestyle expenses, she can create a realistic monthly budget that allows her to enjoy all that this vibrant community has to offer without breaking the bank.