Median rent is 17% lower in Raleigh ($1,468/mo vs $1,779/mo). Buying is cheaper in Raleigh, where the median home runs $377,800 versus $751,700. Households earn more in Raleigh ($82,424 vs $79,713 a year). Taken together, Raleigh is the more affordable choice with a cost index of 98.3 against 113.0 — about 13% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Raleigh, NC.
Quick verdict
Raleigh is 13% cheaper overall
Cost index: 98.3 in Raleigh vs 113.0 in New York (US average = 100)
City A
New York, NY
City B
Raleigh, NC
How much would you need to earn in Raleigh, NC to maintain your standard of living from New York, NY?
Equivalent salary in Raleigh, NC
$65,267
You could earn $9,733 less (13% lower) and break even.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
New York
New York
Raleigh
North Carolina
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rent is modestly lower in Raleigh at $1,468/mo compared to $1,779/mo in New York (17% gap). Home buyers face a steeper market in New York: the median home is $751,700 versus $377,800 in Raleigh — 50% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
New York's top income tax rate is 10.90% versus 4.50% in North Carolina, so Raleigh is more tax-friendly for high earners. Sales tax is 4.00% in New York and 4.75% in North Carolina; New York has the lower rate (local add-ons may apply in both).
New York
Income tax: 10.90%
Sales tax: 4.00%
Raleigh
Income tax: 4.50%
Sales tax: 4.75%
Raleigh has cleaner air on average: 54.0 AQI (Moderate) compared to 61.0 AQI (Moderate) in the other city. Lower AQI means cleaner, healthier air.
Pick Raleigh if you prioritize lower overall cost of living (index 98.3 vs 113.0).
Pick Raleigh if you prioritize cheaper rent ($1,468/mo median).
Pick Raleigh if you prioritize cleaner air quality (avg AQI 54.0).
Pick Raleigh if you prioritize lower state income tax (4.50%).
Is New York cheaper than Raleigh?
Raleigh is cheaper overall, with a cost of living index of 98.3 versus 113.0 (US average = 100). That means prices run about 13% lower in Raleigh.
How much is rent in New York vs Raleigh?
Median rent is $1,779/mo in New York, NY and $1,468/mo in Raleigh, NC. Raleigh, NC has the lower rent by about 17%.
Which has higher salaries — New York or Raleigh?
Median household income is $79,713 in New York, NY and $82,424 in Raleigh, NC. Raleigh, NC has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Raleigh, NC has better air quality on average: 54.0 AQI versus 61.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — New York or Raleigh?
New York's top income tax rate is 10.90% and North Carolina's is 4.50%. Raleigh, NC has the lower rate.
What salary do I need in Raleigh to match my New York income?
To maintain the same purchasing power, a salary of $100,000 in New York, NY is equivalent to roughly $87,022 in Raleigh, NC (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology