Raleigh Cost of Living: 3% Below National Average, Driven by Housing and Utilities

If you and your partner are weighing Raleigh against Austin or Denver, there is one document worth reading before you do anything else. The C2ER Cost of Living Index, last updated June 2025, puts Raleigh's overall cost of living roughly 3% below the national average. Austin clocks in at roughly 4% below it. Denver sits about 10% above it. (Source: C2ER 2025 Annual Average via Orlando Economic Partnership)

That gap between Raleigh and Denver is not marginal. It compounds across every expense category, every month.

What the Index Actually Measures

The C2ER index uses 100 as the national baseline. Raleigh's composite score is approximately 97, meaning it runs modestly below the national average, and the subcategory breakdown is where the real story lives. Austin's composite is approximately 96 and Denver's is approximately 110, reflecting that Austin has modestly lower costs than the national average while Denver carries a meaningful premium. (Source: C2ER 2025 Annual Average via Orlando Economic Partnership)

The data on this page, as apartments.com notes, is sourced directly from the C2ER Cost of Living Index and was last published in June 2025.

Housing: Below the National Average

Housing is where Raleigh's advantage is clearest. C2ER data shows housing in Raleigh running meaningfully below the national average — the largest single driver pulling the metro's composite index under 100.

Raleigh's median listing price sits at $449,900 with 46 days on market, per the latest FRED data for the metro, and for-sale inventory has normalised to about 3.4 months of supply. At today's 30-year fixed rate of 6.23% (Source: Freddie Mac PMMS, April 23, 2026), that is a real number to stress-test before you book moving trucks.

Austin and Denver both saw aggressive price appreciation during the pandemic era, and while both have cooled, Denver's housing index remains elevated. For a detailed look at how Austin's construction cycle is affecting rents there, see our Austin Construction Boom and Rent Decline Case Study.

Utilities: Below Average, Every Month

This is the line most affordability comparisons skip. C2ER data shows Raleigh utilities running below the national average — a quiet but durable advantage that compounds month after month against higher-cost metros.

The Comparison at a Glance

Category	Raleigh vs. U.S. Average
Overall index	~3% below (index ~97)
Housing	Below average (C2ER subcategory)
Utilities	Below average (C2ER subcategory)
Transportation	Below average (C2ER subcategory)
Groceries	Slightly above average
Healthcare	Above average

Source: C2ER Cost of Living Index, June 2025 update (via apartments.com). Austin composite ~96, Denver composite ~110 per C2ER 2025 Annual Average (Source: Orlando Economic Partnership, April 2025).

The Asterisk: Healthcare

Raleigh's healthcare costs run above the national average. C2ER data puts the premium at roughly 12.7% for homeowners, rising to about 14.1% above average for married couples with school-age children.

That is the one category that genuinely erodes the city's broader affordability advantage. Budget for it, not around it.

The counterpoint is access. Raleigh is part of the Research Triangle healthcare network, with Duke Health, UNC Health, and WakeMed all within reach. For households relocating from areas with thinner healthcare infrastructure, the quality of that access can matter as much as the cost.

Who the Raleigh Advantage Actually Holds For

The housing and utilities savings compound most for households that are purchasing and staying. If you are renting short-term, the picture is more mixed. The clearest savings are on the for-sale side, where inventory has normalised to about 3.4 months of supply; short-term renters capture less of Raleigh's cost advantage.

For renters, downtown and North Hills sit at the top of the local rent band. Suburban areas trade commute time for meaningfully lower rents.

Before You Commit: Three Numbers to Run Yourself

The headline index is a metro average — your personal cost of living depends on how your spending maps onto the categories. Before you decide, run these three yourself:

• Your mortgage at today's rate. Raleigh's median listing price is about $449,900; stress-test the monthly payment against the current 30-year fixed rate of 6.23%, not the index. (Source: Freddie Mac PMMS, April 23, 2026)
• The healthcare line, added back. As a homeowner, add roughly 12.7% above the national average for healthcare; for a married couple with school-age children, use about 14.1%. This is the category that most erodes the savings.
• Your own category weights. The composite assumes average spending. If you rent short-term or commute long distances, reweight housing and transportation to match your actual budget.

The Verdict on Raleigh

The housing and utilities savings are structural, not seasonal; the healthcare premium is real and belongs in your budget model. The outside validation lines up: U.S. News & World Report ranked Raleigh the #6 Best Place to Live in the U.S. for 2025–2026, scoring 150 metros on cost of living, the job market, and quality of life. And the opportunity behind the cost case is real — Wake County Economic Development Executive Director Michael Haley frames the region's trajectory around "smart growth, radical collaboration, and a relentless focus on innovation."

Run the mortgage numbers against today's 6.23% rate (Source: Freddie Mac PMMS, April 23, 2026) using a mortgage calculator, then book a weekend in Raleigh to see whether the city fits. The cost case is solid; the move still has to feel right.