Median rent is 18% lower in Wake Forest ($1,458/mo vs $1,779/mo). Buying is cheaper in Wake Forest, where the median home runs $435,000 versus $751,700. Households earn more in Wake Forest ($120,777 vs $79,713 a year).
City A
New York, NY
City B
Wake Forest, NC
How much would you need to earn in Wake Forest, NC to maintain your standard of living from New York, NY?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
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
Wake Forest
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 Wake Forest at $1,458/mo compared to $1,779/mo in New York (18% gap). Home buyers face a steeper market in New York: the median home is $751,700 versus $435,000 in Wake Forest — 42% 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 Wake Forest 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%
Wake Forest
Income tax: 4.50%
Sales tax: 4.75%
Air quality data is available for New York (avg AQI 61.0) but not yet for Wake Forest.
Pick Wake Forest if you prioritize higher median household income ($120,777/yr).
Pick Wake Forest if you prioritize cheaper rent ($1,458/mo median).
Pick Wake Forest if you prioritize lower state income tax (4.50%).
Is New York cheaper than Wake Forest?
Cost of living index data is not yet available for one or both cities.
How much is rent in New York vs Wake Forest?
Median rent is $1,779/mo in New York, NY and $1,458/mo in Wake Forest, NC. Wake Forest, NC has the lower rent by about 18%.
Which has higher salaries — New York or Wake Forest?
Median household income is $79,713 in New York, NY and $120,777 in Wake Forest, NC. Wake Forest, 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?
Air quality data is not yet available for one or both cities.
Which has lower taxes — New York or Wake Forest?
New York's top income tax rate is 10.90% and North Carolina's is 4.50%. Wake Forest, NC has the lower rate.
What salary do I need in Wake Forest to match my New York income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology