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Cost of Living in Wake County

Is it better to rent or buy in Wake County? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$113,891
$1,707/mo

Median in area: $1,707

$482,705

Median in area: $482,705

$96,541

If you Rent

🔑
$1,869 /mo
Base Rent$1,707
Est. Utilities$162
% of Income19.7%
Pre-tax Residual$7,622

If you Buy

🏠
$3,065 /mo
P&I (6.938%)$2,553
Taxes & Ins$350
Est. Utilities$162
% of Income32.3%
Pre-tax Residual$6,426

Compare Nearby Areas

See how Wake County stacks up against neighboring areas.

countyHarnett County, NC
$1,164/mo
countyChatham County, NC
$1,262/mo
countyDurham County, NC
$1,556/mo
countyFranklin County, NC
$1,102/mo
countyJohnston County, NC
$1,324/mo

Cost of Living FAQs

Is it cheaper to rent or buy in Wake County?›

Based on median housing data, renting is currently more affordable on a monthly basis in Wake County. The estimated all-in monthly cost for renting is $1,869, while owning a median-priced home with a 20% down payment is roughly $3,065 per month (a difference of $1,196).

How much do utilities cost in Wake County?›

The average monthly utility cost (electricity and natural gas) for a typical home in Wake County is approximately $162. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Wake County?›

To comfortably afford the median rent and utilities in Wake County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $74,760 per year.