Cost of Living in Wake County, North Carolina
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Wake County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Wake County ranks #2,979 of 3,142 counties for affordability (bottom 5%)
Sourced county brief
Wake County Median Gross Rent Reaches $1,623 Per Month
Wake County has a median gross rent of $1,623, which is $646 higher than the North Carolina unweighted county mean of $977. The median home value in the county was estimated at $461,300, a figure that is significantly above the statewide unweighted county mean of $235,312. For homeowners, median selected monthly owner costs for all units were $1,733. The official median gross rent as a percentage of household income (GRAPI) is 29.3 percent, which is 0.4 percentage points above the state unweighted county mean of 28.9 percent. Median income for renter households in Wake County is $65,172, while the overall median household income is $105,768. These figures represent snapshots from the 2020-2024 American Community Survey period. All reported values are extracted directly from U.S. Census Bureau data tables. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Wake County
Affordability Verdict
ACS B25071 estimates median gross rent at 29.3% of renter household income in Wake County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,623 per month; median selected monthly owner costs are $1,733. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $64,920 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The North Carolina unweighted mean of county median rents is $977 per month. Wake County's $1,623 median is 66.2% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Wake County
Rent Burden
18.4%
of gross income
Max Housing (28% Rule)
$2,468
per month
Owner Cost Burden
19.7%
of gross income
The median home in Wake County may be a stretch
Median home value is $461,300. Estimated monthly cost: $3,683 vs. your max of $2,468.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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