Raleigh, NC Cost Of Living
Cost Of Living In Raleigh, NC Summary
Cost of living in Raleigh research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Raleigh is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in North Carolina, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Raleigh is 112, with 100 being the average.
The cost of living index in Raleigh is 1.1x higher than the national average.
Raleigh ranks as the #121 cheapest in North Carolina out of 157.
Raleigh ranks as the #3,863 cheapest out of 6,489 in the US.
The median home value in Raleigh is $435,712.
The median income in Raleigh is $82,424.
Table Of Contents
Raleigh's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Raleigh, NC?
According to the most recent data on the cost of living, Raleigh has an overall cost of living index of 112, which is 1.1x higher than the national index of 100.
Compared to North Carolina, Raleigh has a cost of living index that's 1.2x higher than North Carolina's index of 92.
The standard of living in Raleigh ranks as #121 most affordable out of the 157 places we measured in North Carolina. By definition, that implies Raleigh ranks as the #36 most expensive place in the Tar Heel State.
For more reading on life in Raleigh, check out:
In North Carolina
In America
Raleigh Cost Of Living Vs. North Carolina
Six factors go into calculating the cost of living index in Raleigh. Here is how it fairs on each of the criteria:
The Services index in Raleigh is 98.
The Groceries index in Raleigh is 96.
The Health index in Raleigh is 114.
The Housing index in Raleigh is 140.
The Transportation index in Raleigh is 94.
The Utilities index in Raleigh is 99.
| Living Expense | Raleigh | North Carolina | National Average | |
|---|---|---|---|---|
| Overall | 112 | 92 | 100 | |
| Services | 98 | 100 | 100 | |
| Groceries | 96 | 99 | 100 | |
| Health | 114 | 106 | 100 | |
| Housing | 140 | 86 | 100 | |
| Transportation | 94 | 93 | 100 | |
| Utilities | 99 | 95 | 100 | |
Raleigh, NC Housing Cost Breakdown
Housing swings affordability the most between places in North Carolina, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Raleigh is $435,712.
The Median Rent in Raleigh is $1,468.
The Median Income in Raleigh is $82,424.
The Home Value To Income in Raleigh is 5.3x.
The Rent To Monthly Income in Raleigh is 0.21x.
| Statistic | Raleigh | North Carolina | United States |
|---|---|---|---|
| Median Home Value | $435,712 | $332,681 | $303,400 |
| Median Rent | $1,468 | $1,162 | $1,348 |
| Median Income | $82,424 | $69,904 | $78,538 |
| Home Value To Income | 5.3x | 4.8x | 3.9x |
| Rent To Monthly Income | 0.21x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Raleigh, NC Costs By Category
Detailed Raleigh Services Costs Vs. North Carolina
| Item | Raleigh | North Carolina |
|---|---|---|
| Shampoo | $1.09 | $1.28 |
| Movie | $10.27 | $12.13 |
| Bowling | $11.0 | $18 |
| Haircut | $19.0 | $24.26 |
| Beauty Salon | $29.58 | $45.56 |
Detailed Raleigh Groceries Costs Vs. North Carolina
| Item | Raleigh | North Carolina |
|---|---|---|
| Ground Beef | $5.93 | $5.84 |
| Fried Chicken | $1.59 | $1.57 |
| Milk | $4.57 | $4.67 |
| Potatoes | $5.18 | $4.93 |
| Pizza | $10.47 | $12.09 |
| Beer | $10.29 | $10.41 |
| Toothpaste | $3.65 | $3.7 |
Detailed Raleigh Health Costs Vs. North Carolina
| Item | Raleigh | North Carolina |
|---|---|---|
| Optometrist | $141.56 | $125.68 |
| Doctor | $136.38 | $135.78 |
| Dentist | $100.17 | $113.29 |
Detailed Raleigh Transportation Costs Vs. North Carolina
| Item | Raleigh | North Carolina |
|---|---|---|
| Gasoline | $3.45 | $3.46 |
| Tire Balancing | $63.55 | $59.92 |
Detailed Raleigh Utilities Costs Vs. North Carolina
| Item | Raleigh | North Carolina |
|---|---|---|
| All Electricity | $201.14 | $193.99 |
| Phone | $187.32 | $192.25 |
Raleigh SnackAbility
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Cost Of Living In Cities Around Raleigh
The cost of living varies in the cities and towns around Raleigh. Here's a quick look at the cost of living in the most populous nearby places:
Durham, NC has a cost of living index of 107, 1.0x Raleigh.
Cary, NC has a cost of living index of 125, 1.1x Raleigh.
Apex, NC has a cost of living index of 122, 1.1x Raleigh.
| City | Population | Cost Of Living | Vs. Raleigh |
|---|---|---|---|
| Durham, NC | 288,465 | 107 | 1.0x |
| Cary, NC | 176,686 | 125 | 1.1x |
| Apex, NC | 67,765 | 122 | 1.1x |
| Wake Forest, NC | 51,199 | 117 | 1.0x |
| Holly Springs, NC | 43,429 | 125 | 1.1x |
| Fuquay-Varina, NC | 37,749 | 114 | 1.0x |
| Garner, NC | 32,543 | 106 | 0.9x |
| Morrisville, NC | 30,471 | 120 | 1.1x |
| Clayton, NC | 28,043 | 103 | 0.9x |
| Knightdale, NC | 19,532 | 105 | 0.9x |
