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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 $448,953, higher than the North Carolina average of $323,314.
The average cost of rent is $1,666/mo in Raleigh, primarily driven by the current value of real estate in the Raleigh area. In Raleigh, 33.38% of households rent, and 27.95% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Raleigh is $9,369 per month. Households that rent pay about 17.78% of their income on rent here. Raleigh’s most expensive areas are in the western regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Knightdale, NC: less expensive homes
- Cary, NC: higher priced homes
- Morrisville, NC: higher priced homes
- Rolesville, NC: higher priced homes
- Wake Forest, NC: higher priced homes
- Apex, NC: higher priced homes
- Wendell, NC: less expensive homes
- Zebulon, NC: less expensive homes
- Durham, NC: equally priced homes
- Rocky Cross, NC: less expensive homes
Cities with Similar Populations
- Sacramento, CA: higher priced homes
- Providence, RI: equally priced homes
- Pueblo, CO: less expensive homes
- Racine, WI: less expensive homes
- Richmond, CA: higher priced homes
- Rancho Cordova, CA: higher priced homes
- Rancho Cucamonga, CA: higher priced homes
- Poughkeepsie, NY: equally priced homes
- Puyallup, WA: higher priced homes
- Queen Creek, AZ: higher priced homes
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