Durham, North Carolina, is considered relatively affordable compared to the national average. While housing costs are slightly higher, utilities, transportation, and some other expenses are lower. Overall, the cost of living in Durham is about 11% lower than the national average. Is Durham, North Carolina, an expensive place to live? Housing expenses in Durham are 9% higher than the national average, while utility costs are 12% lower than the national average.
For retirees, the cost of living in Durham is 1% higher than the national average, making it a relatively affordable place. If you're looking to buy real estate, have a stable job, and send your kids to good schools, the Raleigh-Durham area is a place you should visit. There's a reason the city is growing so fast. More specifically, compared to the national average, housing is 2% lower, utilities are 2% higher, food is 8% lower, and transportation costs are 5% lower.
These statistics may not exactly amount to how much you're going to spend in Raleigh, but they give you a good idea of how much it will cost you to live here. In March 2024, home prices in Raleigh rose 5.1% compared to the previous year. On average, homes sell after just 16 days on the market, which means you need to act quickly if you want a home in one of Raleigh's best neighborhoods. More specifically, compared to the national average, housing is 9% higher, public services are 12% lower, food is the same and transportation is 6% lower.
With lower utility, grocery and transportation costs, you can expect to save a lot of money living in Durham. The good news is that if you're planning to buy a home in Durham, you may be able to get a reasonable price because half of the homes sold below the asking price. Durham is a large city and there is a large amount of housing available at more affordable prices. The poverty rate is 11.1%, according to the U.S.
UU. Many industries have experienced significant growth in recent years as Durham grew, including pharmaceutical and biopharmaceutical manufacturing, agricultural biotechnology, medical devices and diagnostics, healthcare, and information technology. On average, Durham tends to have a slightly higher cost of living than Raleigh. However, housing and rent prices are higher in Raleigh.
If you're debating which city to move to, you'll have plenty of affordable options, but it all depends on the location and the housing market at the time. If you live in Durham, your utilities and groceries will be slightly higher than in Raleigh. Both cities are incredible for so many reasons, and whether you decide to move to Raleigh or Durham, you can't doubt that you'll find the perfect home. What are some of the differences between Durham and Raleigh? The biggest difference between these two cities is the difference in population.
As the capital of the state of North Carolina, Raleigh has a larger population and is home to many state offices and official buildings. Raleigh is a semi-transitable city, which is highly dependent on where you live. The city center is very easy to get around on foot, but you'll need a vehicle or public transport option if you need to travel outside the city. If you're planning a trip to the Triangle, tourists generally find that there's more to do in Raleigh than in Durham. Raleigh is much bigger and has more activities for visitors.
However, Durham still has plenty of museums, restaurants, sporting events and more to enjoy when you visit. Durham is ranked 91st out of 273 U.S. cities. Department of State in terms of cost of living.
The cost of living in Durham is 98.3% of the national average. Durham's economic growth boom began with the tobacco industry, with Bull Durham Tobacco Company and the W.
