Housing Costs in Concord, NC
Housing is typically the largest expense in a monthly budget. In Concord, the median rent for a 2-bedroom apartment is around $1,450 per month as of 2025. For those looking to purchase a home, a typical mortgage payment on a 3-bedroom house falls in the range of $1,600 to $2,100 per month, depending on the neighborhood and age of the home.
Concord offers a mix of housing options to fit different budgets and preferences:
- Newer construction homes in master-planned communities: $350K-$500K
- Established neighborhoods with mid-century ranch homes: $250K-$400K
- Townhomes and condos near downtown: $200K-$350K
About 30% of neighborhoods have a Homeowners Association (HOA), which can add $100-$300 per month in fees. While not required, many residents find the amenities and services provided by an HOA to be worthwhile.
Utilities and Energy Bills
Utility costs in Concord are relatively affordable compared to the national average. For a typical 3-bedroom home, residents can expect to pay around $150 for electricity, $60 for gas, $50 for water, and $30 for trash each month. Of course, actual costs will vary based on home size, energy efficiency, and usage patterns.
Concord experiences hot, humid summers, so cooling costs tend to spike in July and August. Keeping the AC set to 78°F and using ceiling fans can help manage electric bills. In the milder spring and fall months, opening windows provides natural ventilation. Expect to budget an extra $40-$80 per month for summer cooling.
| Utility | Estimated Monthly Cost |
|---|---|
| Electricity | $150 |
| Gas | $60 |
| Water | $50 |
| Trash | $30 |
| Summer Cooling Spike | +$40 to $80 |
Groceries and Daily Expenses
Food is another significant part of the monthly budget. For a single person, plan on spending around $350 per month on groceries. A couple should budget closer to $600, and a family of four will likely spend $900 or more. These estimates assume a mix of cooking at home and dining out occasionally.
Here’s what a typical grocery basket might cost in Concord:
- Gallon of milk: $3.50
- Loaf of bread: $2.75
- Dozen eggs: $2.25
- Ground beef (1 lb): $5.50
Dining out will add to the food budget. A meal at a casual restaurant runs about $12-$15 per person, while a nicer dinner out might cost $30-$40 per person including tip.
Don’t forget to factor in household items like cleaning supplies, toiletries, and paper goods. Budget $50-$75 per person per month for these essentials.
Taxes and Fees
Concord residents pay a property tax rate of 0.48%, which is slightly lower than the national average of 0.55%. For a home valued at $350,000, annual property taxes would be $1,680.
North Carolina has a flat income tax rate of 4.99% as of 2025. The statewide sales tax is 4.75%, but Concord adds an additional 2% for a total of 6.75% on most purchases. Vehicle registration fees are $38.75 per year, plus applicable county taxes.
| Tax | Rate |
|---|---|
| Property Tax | 0.48% |
| State Income Tax | 4.99% |
| Sales Tax | 6.75% |
| Vehicle Registration | $38.75 + county tax |
If living in an HOA community, budget an extra $100-$300 per month for fees, which often include amenities like pools, fitness centers, and exterior maintenance. City trash and recycling pickup is included in property taxes.
Monthly Budget Summary
So what does it really cost to live comfortably in Concord? Here’s a high-level monthly budget breakdown for different household sizes, based on gross income (pre-tax). Keep in mind, these are general estimates and actual budgets will vary.
| Expense | Single | Couple | Family of 4 |
|---|---|---|---|
| Housing | $1,450 | $1,800 | $2,100 |
| Utilities | $250 | $325 | $400 |
| Groceries | $350 | $600 | $900 |
| Transportation | $300 | $500 | $800 |
| Healthcare | $250 | $500 | $800 |
| Personal & Misc. | $250 | $400 | $500 |
| Monthly Total | $2,850 | $4,125 | $5,500 |
| Annual Gross Income | $40,800 | $59,000 | $78,600 |
Based on these figures, a single person would need to earn around $40,800 per year ($3,400 per month) to live comfortably in Concord. A couple would need a combined gross income of $59,000 ($4,900 per month). To support a family of four, plan on a household income of at least $78,600 ($6,550 per month).
Again, these income requirements are pre-tax estimates. Budgets will vary based on lifestyle, neighborhood, and spending habits. With smart financial planning, it’s possible to enjoy a high quality of life in Concord on a moderate income.
Lifestyle Considerations
Concord offers a suburban lifestyle with easy access to Charlotte’s urban amenities. Commute times are reasonable, with most residents spending 20-30 minutes driving to work. I-85 runs through the city, connecting to job centers in Charlotte and Greensboro.
Homes in Concord tend to be newer and more spacious compared to Charlotte proper. Families appreciate the strong public school system and abundance of parks and recreational facilities. The city has over two dozen public parks, a greenway system, and several sports complexes.
Living in Concord does require some tradeoffs. While housing is more affordable than Charlotte, options for dining, nightlife and cultural events are more limited. Newer construction homes offer modern features and open floorplans, but may lack the character of historic neighborhoods. Still, most residents find that Concord strikes a good balance between affordability, convenience, and quality of life.
Frequently Asked Questions
Q: How much do I need to earn to live comfortably in Concord?
A: A single person would need to gross around $40K per year, a couple $59K, and a family of four $79K. These are pre-tax estimates that assume a moderate, but comfortable lifestyle.
Q: Is Concord less expensive than Charlotte?
A: Yes, the cost of living in Concord is about 5% lower than Charlotte, driven primarily by more affordable housing. Groceries, utilities, and transportation costs are similar.
Q: Are property taxes high in Concord?
A: At 0.48%, Concord’s property tax rate is slightly lower than the national average of 0.55%. However, North Carolina has a relatively high income tax rate of 4.99%.
Q: What’s the average commute time in Concord?
A: Most residents spend 20-30 minutes driving to work each way. Concord is served by I-85 which provides easy access to job centers in Charlotte and Greensboro.
Q: Is Concord a good place to raise a family?
A: Yes, Concord is known for its strong public schools, safe neighborhoods, and family-friendly amenities like parks and sports facilities. Housing options are relatively affordable and spacious compared to nearby cities.
Q: What’s the job market like in Concord?
A: While Concord has a growing employment base, many residents commute to Charlotte for work. Major industries include healthcare, manufacturing, retail, and financial services.
Q: How walkable is Concord?
A: Concord is primarily a car-dependent suburb, but there are pockets of walkability near downtown and greenway trails connecting parks and neighborhoods. Most errands require a vehicle.
Q: Are there public transit options in Concord?
A: Yes, the Concord Kannapolis Area Transit (Rider) system operates 6 fixed bus routes connecting popular destinations. However, most residents rely on personal vehicles to get around.