Cost of Living in Raleigh, NC
Population 481,031 · Census ACS 2020–2024 5-year estimates
The median rent in Raleigh, NC is $1,572/month, 28% higher than the North Carolina median and 11% higher than the U.S. median. The median home value is $415,800, 25% higher than the national median. Households earn a median of $85,395 a year, 18% higher than the state median.
Affordability
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Raleigh vs. North Carolina vs. U.S.
| Raleigh | North Carolina | U.S. | |
|---|---|---|---|
| Median rent | $1,572 | $1,228 | $1,413 |
| Median home value | $415,800 | $288,900 | $332,700 |
| Median household income | $85,395 | $72,388 | $80,734 |
| Homeownership rate | 50.7% | 66.6% | 65.2% |
| Bachelor's degree or higher | 54.0% | 35.7% | 35.7% |
| Poverty rate | 11.9% | 13.0% | 12.5% |
| Unemployment rate | 4.4% | 4.7% | 5.2% |
| Work from home | 25.8% | 16.3% | 15.1% |
| Median age | 34.7 | 39.1 | 38.9 |
FAQ
What is the average rent in Raleigh, NC?
The median gross rent in Raleigh, NC is $1,572 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Raleigh, NC?
Using the common 30% rule, renting a median-priced home takes about $62,880 a year in gross income.
Is Raleigh, NC expensive to live in?
Rent there is 11% higher than the U.S. median, and the median home costs about 4.9 times the median household income.
Other cities in North Carolina
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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