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: $391000
• Average Rent (2 BR Apartment): $1200 per month
• Average Rent (2 BR House): $1280 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 1200, while a 2-bedroom house averages 1280. 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: $None USD per Thousand Cubic Feet (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 None 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 102.5

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $78631

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Raleigh, NC, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.