What Is The Cost Of Living In Raleigh Nc?
May 24, 2023Are you planning to move to Raleigh Nc? Then you should know the cost of living in Raleigh Nc. We are here to help you by giving the average cost of living in Raleigh Nc. Raleigh is a growing East coast with a lot of offering to new residents. However, it’s essential to consider the cost of loving Raleigh before making a final decision. While Raleigh is not notorious for its high rent prices, it is still a costly city to live in. This article will explore the cost of living in Raleigh Nc to help you determine whether moving to Raleigh is right for you!
What Is The Cost Of Living In Raleigh Nc?
The cost of living in Raleigh Nc is 102.4 as compared with the national average of 100. The cost of living indices is based on the US average of 100. The average monthly cost of living in Raleigh, Nc is below 100 means Raleigh is cheaper than the US average. The cost of living in Raleigh, Nc above 100 means Raleigh is more expensive than the national average. The average cost of housing, grocery, and miscellaneous is more than the national average. Whereas, the cost of transportation, utilities, and health is lower than the national average.
| Cost Of Living For | Raleigh Nc | USA |
|---|---|---|
| Housing | 118.8 | 100 |
| Grocery | 100.6 | 100 |
| Transportation | 88.6 | 100 |
| Utilities | 99.1 | 100 |
| Health | 94.8 | 100 |
| Miscellaneous | 109.7 | 100 |
| Median Home Cost | $346,600 | $291,700 |
| Overall | 102.4 | 100 |
Home Rent
The cost of living starts and ends with housing costs, meaning whether you will be able to live comfortably in Raleigh entails taking an in-depth look at the city’s housing market and rental costs. In Raleigh, the average price for a two-bedroom apartment is $1,558, substantially less than the national average price of two-bedroom apartment rent, which is $1,997. We have tabulated the cost of rent in different regions of North Carolina, including the cost of living in Durham, Nc.
| City | Approx 1 Bedroom Rent | Approx 2 Bedroom Rent |
|---|---|---|
| Raleigh | $1,362 | $1,558 |
| Charlotte | $1,292 | $1,444 |
| Durham | $1,181 | $1,416 |
| Greensboro | $1,112 | $1,290 |
| Winston-Salem | $880 | $1230 |
Food Cost
The cost of living in Raleigh Durham Nc is also affected by the cost of food. In Raleigh, North Carolina a single person spends around $3,177 per year or just under $270 a month. Similarly, a family of four spends around $9,305 annually or around $775 monthly. Take a look at the table given below that will give you the approx cost of dinner for 2 in different cities in North Carolina.
| City | Approx Dinner Cost For 2 |
|---|---|
| Raleigh | $60 |
| Charlotte | $47 |
| Durham | $87 |
| Greensboro | $76 |
| Winston-Salem | $42 |
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Travel Cost
Travel cost is also one of the important expenses in the average cost of living in Nc per month. In the city, public transportation options are surprisingly lacking for a city of its size. The current bus system leaves any routes unserviced throughout the week, so it would be exceedingly challenging to be dependent upon this public transportation. The monthly pass in Raleigh will cost you $40 per month, so, annually you need $480 for transportation.
Other Expenses
There are some other important expenses in the cost of living in Raleigh Nc comparison with the national average. They are the expenses due to healthcare, utility, internet, fitness, entertainment, and taxes.
Health Care
In Raleigh, a single adult can expect to spend around $2,728 per year on healthcare while a family of four needs $7,688 per year for healthcare. In the city, the healthcare system varies from individual to individual, regardless of your location.
Utility Bills
In Raleigh, the average bill of electricity is $152.26 per month, gas is $37.10 per month, water is $41.20 per month, fuel cost is $1.35 per month, and total utility is $231.91 per month.
Internet Bills
Internet plan from AT&T internet will cost you $180 per month for 5,000 Mbps while an internet plan from Google Fiber will cost you $100 per month for 2,000 Mbps.
Fitness
In Raleigh the monthly cost of membership to the gym is $36.36 per person. The charges of gyms or fitness clubs depend upon the number of services provided by them.
Entertainment
For many Raleigh residents, the weather often warrants outdoor time. That’s why the city operates such extensive parks and recreation sector that manages thousands of acres of green space.
Taxes
North Carolina levies a fast rate income tax of 5.25%. If you are moving from one of the few states without an income tax, this will certainly be an expense to prepare for. The combined sales tax from local and state is 7.25%.
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FAQ
Is Raleigh NC Expensive To Live In?
Raleigh, NC housing is 7% cheaper than the U.S average, while utilities are about 1% less pricey.
Is Moving To Raleigh NC A Good Idea?
The atmosphere in Raleigh is warm and family friendly. 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.
Does Raleigh NC Get Snow?
Raleigh receives an average six inches of snow in winter. Freezing rain and sleet also occur most winters, and occasionally the area experiences a ice storm. Summers are typically hot.
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What Is A Good Salary In Raleigh?
Most salaries in Raleigh range between $53,436 (25th percentile) to $86,621 (75th percentile) annually.
What Is Middle Class Income In Raleigh?
The minimum income that a single person must make to be considered middle class is $25,149 and the maximum income is $75,444. About 52% of the Triad falls into that middle-income range.
What Is Raleigh NC Best Known For?
Raleigh is often referred to as the “Smithsonian of the South”. Raleigh is well known for its quality and quantity of free museums in Raleigh, and has often been referred to as the “Smithsonian of the South”.
Conclusion
After reading this article, you come across the cost of living in the city of Raleigh in detail. The Bureau of Labor Statistics sets the average Realign 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. Now, you have all the financial information you need to make a successful move to Raleigh, you can begin your packing. This is all about the cost of living in Raleigh.
