Cost of Living in Raleigh, NC: 2024 Breakdown

Raleigh offers strong value for a major tech hub — below national average for metros its size, but rising fast.

Housing (Biggest Variable)

• 1BR rent (downtown): $1,400–$1,800/mo.
• 2BR rent (downtown): $1,800–$2,400/mo.
• Median home price: ~$430,000 (2024) — up from $275k in 2020.
• Suburbs (Cary, Apex, Wake Forest): 10–20% cheaper.

Transportation

• GoRaleigh/GoTriangle transit: $2.50/ride, $70/mo pass.
• Gas: ~$3.10/gal (NC avg).
• Car-dependent outside core; traffic growing.

Food

• Groceries (single): $350–$450/mo.
• Casual dinner: $18–$30/person.

Utilities (Monthly)

• Electricity: $120–$180 (summer AC).
• Water/Sewer: $50–$80.
• Internet: $60–$90 (1 Gbps fiber widely available).

Entertainment

• Movie: $13–$15.
• Concert (mid-tier): $60–$100.

Monthly Budget (Single, Excl. Rent/Mortgage)

$1,800–$2,800 — highly dependent on lifestyle.

Compared to Peers

Cheaper than Austin, Denver, Seattle; pricier than Columbus, Indianapolis. Value proposition: high wages (tech, biotech, gov) + moderate cost.