The modern settlement of Mycenae, with about 350 residents, sits 12 kilometres north of Argos and 40 kilometres southwest of Corinth, on an altitude of 105 metres. The residents are mainly engaged in the agricultural and tourism industries, since the village is close to the internationally famous archaeological site.

The village used to be called Charvati and was named Mycenae in 1928. The patron saint is Agios Panteleimonas, celebrated with a big festival in the 27th of July.