| Index | Raleigh | North Carolina | National |
| Cost of living | 115 | 96 | 100 |
| Groceries | 100 | 100 | 100 |
| Health care | 99 | 99 | 100 |
| Housing | 143 | 88 | 100 |
| Transportation | 105 | 99 | 100 |
| Utilities | 102 | 99 | 100 |
| Lifestyle & Entertainment | 105 | 100 | 100 |
| Household Items | 99 | 100 | 100 |
| Education & Childcare | 109 | 100 | 100 |
Understanding the cost of living in Raleigh can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Raleigh cost of living index is 115, which is 15% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
Housing costs make up a big chunk of the cost of living in Raleigh, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 42.8% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
The most insightful perspective on a city comes from its residents. We recently surveyed 66 locals to gauge their perception of the cost of living in Raleigh. The feedback revealed that 53% of respondents found the cost of living to be reasonable, with prices on the decline, while 47% regarded it as notably expensive with prices that continue to rise.
Is Raleigh affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Raleigh, for instance, where the median home price falls 50.5% higher than the national average, and monthly rent rates are 24.8% higher than usual. Additionally, median income levels contribute to the equation, with Raleigh flaunting a median household income of $103,493, 27.2% higher than the national norm.
Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Raleigh, the groceries index is 0.4% higher than the national average.
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Raleigh, the housing index is 42.8% higher than the national average.
The cost of living data for Raleigh shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $146,732 | $12,228 | $3,424 | $4,402 |
| Renters | $71,890 | $5,991 | $1,677 | $2,157 |
| State | General Sales Tax | With Max Surtax |
| North Carolina | 4.75% | 7.5% |
| State | Income Tax (Low) | Income Tax (High) |
| North Carolina | 4.75% | 4.75% |
| City | Population | Cost of Living Index | National Avg. |
| Clayton, NC | 24,066 | 103 | 3.0% |
| Garner, NC | 31,549 | 106 | 5.7% |
| Knightdale, NC | 17,266 | 109 | 8.6% |
| Durham, NC | 285,434 | 109 | 9.4% |
| Fuquay-Varina, NC | 29,773 | 113 | 13.4% |
| Raleigh, NC | 482,278 | 115 | 14.5% |
| City | Population | Cost of Living Index | National Avg. |
| Colorado Springs, CO | 481,855 | 121 | 21.0% |
| Long Beach, CA | 480,084 | 162 | 62.4% |
| Miami, FL | 470,437 | 129 | 29.0% |
| Omaha, NE | 494,852 | 98 | 2.5% |
| Virginia Beach, VA | 463,341 | 120 | 19.7% |
| Raleigh, NC | 482,278 | 115 | 14.5% |
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