Raleigh, NC
Wake County · Pop. 481,498
Ranked #129 of 243 cities
38Crisis
Median Home Price
🏠$420K
4.0% YoY
Median Rent
🔑$1,600
3.2% YoY
Median Income
💰$72K
Rent Burden
📊29.5%
% of income to rent
Income to Buy
🏦$121K
annual income needed
Income to Rent
📝$64K
annual income needed
Price-to-Income
⚖️5.8x
Homeownership
🏡52.0%
Rent vs. Buy
Buy
$2,235/mo
Est. mortgage (7%, 20% down)
Need $121K/yr income
Rent
$1,600/mo
Median rent
Need $64K/yr income
How Raleigh Compares
| Metric | Raleigh | North Carolina | National |
|---|---|---|---|
| Home Price | $420K | $309K | $410K |
| Rent | $1,600 | $1,245 | $1,500 |
| Income | $72K | $71K | $75K |
| Rent Burden | 29.5% | 31.5% | 30.0% |
Key Takeaways
- • Home prices in Raleigh are 2% higher than the national average.
- • Rent is 7% higher than the national average.
- • You need an income of $121K to comfortably buy a home here.
- • The homeownership rate is 52.0%, compared to 65.0% nationally.