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These days, finding an affordable place to live in the Raleigh area can be challenging. Home prices in Raleigh are now at a median cost of $155,095, lower than the Illinois average of $300,242.
The average cost of rent is $1,333/mo in Raleigh, primarily driven by the current value of real estate in the Raleigh area. In Raleigh, 19.30% of households rent, and 62.69% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Raleigh is $6,743 per month. Households that rent pay about 19.77% of their income on rent here. Raleigh’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Long Branch, IL: equally priced homes
- Wasson, IL: less expensive homes
- Muddy, IL: less expensive homes
- Eldorado, IL: less expensive homes
- Galatia, IL: less expensive homes
- Broughton, IL: higher priced homes
- Harrisburg, IL: less expensive homes
- Garden Heights, IL: less expensive homes
- Harco, IL: equally priced homes
- Texas City, IL: less expensive homes
Cities with Similar Populations
- Mountville, GA: higher priced homes
- Rock Creek, ID: higher priced homes
- Rochelle, VA: higher priced homes
- Rigsby, OK: higher priced homes
- Richards, TX: higher priced homes
- Reliance, TN: equally priced homes
- Reklaw, TX: higher priced homes
- Reading, KS: higher priced homes
- Nevada, KY: higher priced homes
- Muddyfork, AR: higher priced homes
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