Compared to only North Carolina, Raleigh has a cost of living index that's 1.1x higher than North Carolina's index of 95. The standard of living in Raleigh ranks as #3,677 most affordable out of the 6,418 places we measured in North Carolina. By definition, that implies Raleigh ranks as the #2,741 most expensive place in the Tar Heel State.
What is the cost of living in Raleigh NC?
Raleigh cost of living is 111.0. Housing is the biggest factor in the cost of living difference. The median home price in Raleigh is $280,700.
Is Raleigh cheaper than the US average?
An amount below 100 means Raleigh is cheaper than the US average. A cost of living index above 100 means Raleigh, North Carolina is more expensive.
How does North Carolina’s cost of living compare to renting?
The largest contributor to any cost of living estimate is housing. In North Carolina, the cost of renting a home could be about the same as purchasing one, but may still be the better overall option for you. Renting generally has fewer up-front costs.
What are the average utility costs in Raleigh?
Raleigh residents paying for basic utilities enjoy a monthly utility bill lower than the national average of $240. Here’s a breakdown of the average utility costs in Raleigh: Even with accurate averages, it can be challenging to estimate your utility costs, as they vary depending on your lifestyle and personal preferences.
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How much does it cost to live comfortably in Raleigh NC?
Raleigh cost of living is 102.4COST OF LIVINGRaleighNorth CarolinaHousing118.883.1Median Home Cost$346,600$242,300Utilities99.199.2Transportation88.683.94 more rows
What salary do I need to live in Raleigh NC?
The average salary needed to live comfortably across all of the major metro areas is $57,013, according to SmartAsset. Copyright 2022 Nexstar Media Inc.
Is moving to Raleigh NC A good idea?
Raleigh is often named one of the best places to live in and the best city in the southeast. Raleigh is also known as the City of Oaks because it has plenty of oak trees. If you're thinking about moving to NC, you should consider Raleigh.
Is Raleigh NC affordable?
The cost of living in Raleigh is relatively affordable with an overall cost of living score of 103 which is only 3% higher than the national average.
What is minimum wage in Raleigh?
$7.25 anThe minimum wage in North Carolina is currently $7.25 an hour. Employers doing business in North Carolina are required to pay at least $7.25 per hour to all employees (agricultural and domestic employees are subject to the federal minimum wage).
Is Raleigh cheaper than Austin?
You would need around 5,764.73$ in Austin, TX to maintain the same standard of life that you can have with 5,200.00$ in Raleigh, NC (assuming you rent in both cities)....Cost of Living Comparison Between Raleigh, NC and Austin, TX.CityCost of Living IndexAustin, TX67.17Raleigh, NC65.08New York, NY100Prague48.321 more row
Should I move to Charlotte or Raleigh?
If you're looking for a safe place to raise a family with plenty of job opportunities and the feel of the suburbs, Raleigh is a good choice. If you're interested in tech or finance jobs, want more action and fun, or appreciate big-city living, Charlotte may be in your future.
Why do people move to Raleigh?
The weather, the affordability, a lot less traffic, and a great economic opportunity for entrepreneurs and small businesses. A lot of folks are making the move from cities like Chicago, New York City, Boston, and even California thanks to the affordability of Raleigh.
How cold does it get in Raleigh NC?
Winters are mild and wet, with highs generally in the range of 47-53°F and with lows around or just below freezing, although an occasional 60°F warmer winter day is not uncommon. Lows may also fall into the 15-20° range occasionally. Raleigh receives an average six inches of snow in winter.
Do hurricanes hit Raleigh NC?
You don't need to worry about your entire roof blowing off. The rainfall and wind speeds specifically in the Raleigh-Triangle match Tropical Storm level, not hurricane level. Why? Because Raleigh-Durham is so much more inland, it is only hit by the outer segments of the hurricane.
Is Raleigh a fun place to live?
Downtown Raleigh in particular has undergone a huge revitalization in recent years and become a vibrant place to visit and live with lots of cool cafes, bars, breweries, award winning restaurants, food halls, world class museums, festivals and events, arts and cultural activities.
What is the most affordable city to live in North Carolina?
Hickory, NC is country's No. 1 city for low costs: List | Charlotte Observer.
What salary do you need to live comfortably in North Carolina?
Average Annual Per-Capita Cost in North Carolina All told, North Carolinians may need about $3,191 per person, per month.
What is a good salary for a single person in NC?
A single person making about $26,000 a year can do OK, but if you add children, the minimum living wage jumps to $24 or $28 an hour. Raleigh is the most expensive, requiring an annual income of more than $60,000 for a single parent of two to make ends meet.
What salary do you need to live in NC?
You want to earn at least three times the price of your rent to live comfortably. Using Raleigh, North Carolina, as an example, the average resident would need to earn at least $4,540 monthly before taxes to live comfortably. This translates to an annual pre-tax wage of $54,480.
How much do you need to make a year to live comfortably in NC?
Typical Expenses1 ADULT2 ADULTS (1 WORKING)0 Children3 ChildrenRequired annual income after taxes$28,809$66,672Annual taxes$6,846$15,843Required annual income before taxes$35,655$82,5147 more rows
How expensive is an apartment in Raleigh?
A 1 bedroom apartment in Raleigh costs $1,362. A 2 bedroom apartment in Raleigh costs $1,558.
What is the cheapest rent in Raleigh?
A one-bedroom apartment is the cheapest rent you can get in Raleigh, with the median rent sitting at $1,362.
How expensive is it to live in Raleigh?
Living in Raleigh is relatively affordable. In Raleigh, rent averages $1,362 for a 1 bedroom apartment. Transportation costs in Raleigh amount to $...
What is the population of Raleigh?
The population of Raleigh is 467,665. It is the second-most populated city in the state of North Carolina.
What is a good salary in Raleigh?
The recommended salary in Raleigh is $4,540 per month or $54,480 annually. This total reflects a salary that would allow a renter to live comfortab...
What is the cost of living index?
In the simplest terms, a Cost of Living index is the estimated amount that represents the cost of the basic necessities required for an individual to live. A cost of living or COL estimate may typically include estimates for housing, food, energy, medical care, transportation, taxes, and other necessities. A COL index may be used to measure what the cost difference would be for a person living in a certain location compared to another location. This cost of living comparison helps individuals make decisions about where they would like to live and what they can afford based on the costs in that location. A cost of living comparison can provide guidance about how an increase or decrease in these basic living expenses impacts necessary spending for an individual or a family. ( 2021-09-27 salary.com )
What is the minimum wage in North Carolina?
The federal minimum wage is $7.25 per hour while North Carolina's state law sets the minimum wage rate at $7.25 per hour in 2021. Demands for a living wage that is fair to workers have resulted in numerous location-based changes to minimum wage levels. View future changes in the minimum wage in your location by visiting Minimum Wage Values in Raleigh, NC
How much does a Raleigh resident make?
The Bureau of Labor Statistics sets the average Raleigh resident’s income at $56,720 annually . However, this average is not an accurate measure of the amount you should earn to live comfortably in Raleigh.
What is the tax rate for North Carolina?
Income Tax: North Carolina levies a fast rate income tax of 5.25%. If you’re moving from one of the few states without an income tax, this will certainly be an expense to prepare for.
How much should housing cost be?
As a general rule, housing costs should not exceed 30% of your income to live comfortably.
Is Raleigh a growing city?
Raleigh is a growing East coast with a lot to offer a new resident. However, it’s essential to consider the costs of moving to Raleigh before making a final decision.
Is Raleigh a good place to walk?
If you prefer to bike or walk, Raleigh may not be the best destination for you. According to Walk Score’s metrics, the city has a 31 walk score, a 30 transit score, and a 41 bike score. In short, in Raleigh, transportation by car is almost mandatory.
Is there public transportation in Raleigh?
Raleigh’s public transportation options are surprisingly lacking for a city of its size. The current bus system leaves many routes unserviced throughout the week, so it would be exceedingly challenging to rely on this public transportation option to get you everywhere you need to go.
Does food cost affect your budget?
Alongside housing, food costs will significantly impact your budget.
What is the magic of Raleigh?
The magic of Raleigh is in the day to day living. Nice, temperate weather, good schools, friendly, smart people, nice housing options with big yards, cityish opportunities without too much crime. Very low hassle factor. Super family friendly. Nice mix of urban-lite, suburban and country. It’s actually much more ethnically diverse than Chicago where groups are concentrated in neighborhoods and not actually intermingled like they are here. My kids play sports and go to school with every ethnic group under the sun. We’re Catholic and our parish is geographical and not ethnic like in Chicago. We even have New Yorkers. Finally, Definitely not a big city. No 4am bars, crazy clubs, celebrities, high profile politicians, etc. i’m Kinda old to be a judge of the hip social scenes but my kids are young adults and have spent time in cities around the world like London, Frankfurt, Seoul, NY, Rome and they are occasionally impressed by the Triangle nightlife.
Is the Triangle area good for restaurants?
Food scene has radically improved since we came 30 years ago. There are several nationally recognized chefs in the Triangle area so there’s a pretty good selection of destination restaurants. What’s lacking but growing are the quirky neighborhood joints that make real cities really special. So if you’ve dreamt of opening some special neighborhood restaurant, come to the Triangle and open something up. We’re waiting!
Is there crime in Raleigh?
Crime is everywhere you go but it seems that there is less in Raleigh than some of the cities around Raleigh.
Cost of living in Raleigh-Durham, NC
To determine how expensive (or inexpensive) it is to live in a particular city, it helps to look at the cost of living index score. If a city’s index score is higher than 100, then the cost of living is above average. If a city’s index score is lower than 100, then the cost of living is below average.
Jobs
The Triangle area, broken into Raleigh and Durham-Chapel Hill by the U.S. Bureau of Labor Statistics, has an unemployment rate of 3.9 percent. This falls well below the national unemployment rate of 5.2 percent (at the time this article was written).
Salary
The median household income in the Triangle area is approximately $73,600, according to U.S. Census data. This is nearly 10 percent higher than the national median household income of $65,712. However, Salary List points out that salaries vary greatly, ranging from $25,653 to $595,800.
Real estate
According to Realtor.com, the median listing home price in Raleigh is $360,000, with an average of $185 per square foot. This is somewhat higher than the national median home listing price of $293,000.
Taxes
In the state of North Carolina, you’ll play a base sales tax of 4.75 percent. Then, depending on which county and city you live in, you’ll pay additional. Although Raleigh, Durham and Chapel Hill are in different counties, the combined sales tax for all three is 7.25 percent.
Transportation
The Triangle area spans 4,660 miles. Depending on where you live in the Triangle relative to where you work, expect to spend a lot of time on the road. The average mean travel time to work for employees in the area is roughly 27 minutes. According to Gasbuddy.com, the average price of regular unleaded gas in Raleigh is $2.97 per gallon.
Other reasons to move to Raleigh-Durham
You can experience all four seasons in the Triangle area. In spring and summer, temperatures range from the high 60s to the high 80s (degrees Fahrenheit). In fall, the City of Oaks (Raleigh) blazes as the leaves change color. Winter temperatures dip below freezing, and the city gets an average of 4.7 inches of snow annually.
What is the oldest house in Raleigh?
Mordecai is Raleigh’s oldest neighborhood. The Mordecai House, which dates from 1785 is the oldest house in Raleigh and Andrew Johnson, the 17th President of the United States, was born here.
What is the largest park in Raleigh?
Dorothea Dix Park is the largest park in Raleigh with impressive skyline views and a lovely space with wide-open fields, rolling meadows, tree-lined streets. The City of Raleigh has big plans for a transformative public space – think mini Central Park NY.
Why is Raleigh called the City of Oaks?
In case you don’t know, Raleigh is nicknamed the “City of Oaks” for its sheer number of majestic oak trees which line the streets. Now, I don’t know about you, but we love oak trees and how they symbolize wisdom and knowledge and they help to keep the city relaxed and feeling like a small town.
What are the top employers in Raleigh?
Raleigh-Durham is home to Research Triangle Park (RTP), one of the greatest technological research parks in the world with top employers including: IBM, Cisco, GlaxoSmithCline, Nortel Networks, Sony Ericsson, and Lenovo just to name a few.
Where is Nash Square in Raleigh?
Nash Square is another favorite of ours on the edge of the Warehouse District and is a lovely space with oak trees, lawn area, and a Raleigh Firefighters monument in the center.
Where is the oak tree in Raleigh?
Oak tree in front of the State Capitol building in Downtown Raleigh. Along with all the oak trees you have pine tree forests everywhere, wooded neighborhoods, green spaces and parklands. Whenever we have friends visit, they always remark on how GREEN Raleigh is.
Is Raleigh a good place to live?
Although historic and the capital city of North Carolina, Raleigh has youthful energy and is a vibrant place to live.
