Rent vs Buy in Raleigh, NC
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Raleigh, NC
Price-to-rent ratio is 20.7 (under 15 favors buying, over 21 favors renting). Renting costs $1,763/mo; owning runs about $3,330/mo — $1,567/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 7.24% rate) | $2,383 |
| Property tax | $401 |
| Home insurance | $182 |
| Maintenance | $364 |
| Total to own | $3,330 |
| Average 2BR rent | $1,763 |
Based on a median home value of $437,035 with a $87,407 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.