Cost of Living in Raleigh, NC
Housing
The housing market plays a significant role in determining the cost of living in Raleigh, NC.
- Housing Index: 110.0 / 100
- Median Home Price is: $391,000
- Average Rent (2 BR Apartment): $1785 per month
- Average Rent (2 BR House): $1940 per month
When considering a move to Raleigh, NC, the housing index of 110.0 indicates that the area is slightly more expensive than the national average. The median home price stands at 391000, suggesting that investing in real estate here may require careful budgeting. Average monthly rents for a 2-bedroom apartment are around 1785, while a 2-bedroom house averages 1940. It's essential to weigh these costs against job opportunities and lifestyle prospects. Overall, thorough financial planning is crucial for making an informed decision on relocating.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Raleigh, NC.
- Electricity Price: $13.72 USD (median by state)
- Natural Gas Price: Data is updating (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Raleigh, NC could entail higher utility costs. Electricity costs sit at $13.72, while natural gas is priced at data unavailable per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Raleigh is a financially viable option for your relocation.