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Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I'd much rather pay $500/mo in rent than $1,000. And I'd rather pay $2 for coffee than $5.
And while every neighbhorhood in Raleigh might be more expensive than living in rural North Carolina, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Raleigh neighborhoods where your dollar goes a little further -- you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Raleigh are the cheapest.
The Cheapest Neighborhoods In Raleigh For 2022
What's the cheapest neighborhood to live in Raleigh for 2022? According to the most recent census data, Northeast looks to be the cheaptest Raleigh neighborhood to live in.
At this point we should make it clear that you do get what you pay for -- some of these neighborhoods might not be the best places to live in Raleigh. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Raleigh that deserve a little bragging rights or maybe you're interested in the worst neighborhoods in Raleigh.
Once you're done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
For more North Carolina reading, check out:
- Best Places To Live In North Carolina
- Cheapest Places To Live In North Carolina
- Cheapest Cities To Live In America
- Cheapest States To Live In America
The 10 Cheapest Neighborhoods To Live In Raleigh For 2022
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Population: 87,424
Cost Of Living Index: 94 (4th cheapest)
Home Value To Income Ratio: 2.7 (cheapest)
Rent To Income Ratio: 0.017 (9th cheapest)
More on Northeast: Homes For Sale | Data
/10
Population: 17,197
Cost Of Living Index: 92 (2nd cheapest)
Home Value To Income Ratio: 3.1 (3rd cheapest)
Rent To Income Ratio: 0.018 (11th cheapest)
More on South: Homes For Sale | Data
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Population: 28,074
Cost Of Living Index: 94 (4th cheapest)
Home Value To Income Ratio: 2.8 (2nd cheapest)
Rent To Income Ratio: 0.022 (14th cheapest)
More on Southeast: Homes For Sale | Data
/10
Population: 76,649
Cost Of Living Index: 110 (12th cheapest)
Home Value To Income Ratio: 3.3 (5th cheapest)
Rent To Income Ratio: 0.011 (4th cheapest)
More on North: Homes For Sale | Data
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Population: 37,998
Cost Of Living Index: 98 (7th cheapest)
Home Value To Income Ratio: 3.3 (4th cheapest)
Rent To Income Ratio: 0.018 (12th cheapest)
More on West: Homes For Sale | Data
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Population: 81,974
Cost Of Living Index: 111 (14th cheapest)
Home Value To Income Ratio: 3.5 (7th cheapest)
Rent To Income Ratio: 0.012 (5th cheapest)
More on Northwest: Homes For Sale | Data
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Population: 22,629
Cost Of Living Index: 94 (4th cheapest)
Home Value To Income Ratio: 3.4 (6th cheapest)
Rent To Income Ratio: 0.024 (16th cheapest)
More on Southwest: Homes For Sale | Data
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Population: 11,665
Cost Of Living Index: 96 (6th cheapest)
Home Value To Income Ratio: 4.1 (8th cheapest)
Rent To Income Ratio: 0.02 (13th cheapest)
More on East Raleigh: Homes For Sale | Data
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Population: 8,992
Cost Of Living Index: 121 (15th cheapest)
Home Value To Income Ratio: 4.5 (10th cheapest)
Rent To Income Ratio: 0.009 (3rd cheapest)
More on Wade: Homes For Sale | Data
/10
Population: 8,393
Cost Of Living Index: 134 (17th cheapest)
Home Value To Income Ratio: 4.8 (11th cheapest)
Rent To Income Ratio: 0.007 (2nd cheapest)
More on Five Points: Homes For Sale | Data
Methodology: How We Determined The Cheapest Raleigh Hoods In 2022
In order to rank the cheapest places to live in Raleigh, we had to determine what criteria defines "cheap".
Using census and extrapolated BLS data, we arrived at the following set of criteria:
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 18 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the "Cheapest City Neighborhood In Raleigh." We're lookin' at you, Northeast.
Read on below to learn more about what it's like to live in the cheapest places Raleigh. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
Summary: Lowest Cost Places To Live In Raleigh
If you're measuring the neighborhoods in Raleigh where prices are low and it's cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Raleigh aren't all cheap. Central takes the title of the most expensive neighborhood to live in Raleigh.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more North Carolina reading, check out:
- Most Dangerous Cities In North Carolina
- Richest Cities In North Carolina
- Safest Cities in North Carolina
- Worst Places To Live In North Carolina
Detailed List Of The Cheapest Neighborhoods To Live In Raleigh For 2022
| Rank | Neighborhood | Cost Of Living Index |
|---|---|---|
| 1 | Northeast | 94 |
| 2 | South | 92 |
| 3 | Southeast | 94 |
| 4 | North | 110 |
| 5 | West | 98 |
| 6 | Northwest | 111 |
| 7 | Southwest | 94 |
| 8 | East Raleigh | 96 |
| 9 | Wade | 121 |
| 10 | Five Points | 134 |
| 11 | Hillsborough | 105 |
| 12 | Glenwood | 149 |
| 13 | Falls Of Neuse | 110 |
| 14 | South Central | 91 |
| 15 | Mordecai | 109 |
| 16 | Six Forks | 125 |
| 17 | North Central | 105 |
| 18 | Central | 104 |
