Raleigh, NC variant. This is a Raleigh, NC-specific version of the Home Affordability Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Home Affordability Calculator.
Affording a home in Raleigh pits the $79,964 median income against a $425,000 median price - a price-to-income ratio of 5.3x.
Can you afford Raleigh?
The 28% rule caps housing at $1,866/month on the local median income, supporting roughly $368,992 in price - versus the $425,000 Raleigh median.
Raleigh is relatively attainable on the local median income.
About Raleigh, NC
Raleigh applies North Carolina's flat state income tax along with state and local sales taxes.
Raleigh's home prices sit above the national average amid steady population and job growth.
Raleigh anchors the Research Triangle and has a robust technology and research sector, with a cost of living above the national average.
Worked example: max price on $79,964
28% of $79,964 ÷ 12 ≈ $1,866/month supports about $368,992 at 6.5% with 20% down - compared with the $425,000 median.
Quick reference
- Median home value: $425,000
- Median rent: $1,700/mo
- Median household income: $79,964
- Local sales tax: 7.25%
- Effective property tax rate: 0.86%
- Cost of living index: 105 (US avg = 100)
Frequently Asked Questions
What income do I need to buy in Raleigh?
To afford the $425,000 median home, you'd typically need well above the $79,964 local median income at current rates.
What is the price-to-income ratio in Raleigh?
About 5.3x (median home ÷ median income).