Quality of Life in Raleigh, NC for an Income of $174,000

Overview

Raleigh, North Carolina, is known for its vibrant communities, excellent educational institutions, and growing job market. A salary of $174,000 places individuals or families well above the median income, providing a comfortable lifestyle in comparison to both local and national standards.

Cost of Living

• Overall Affordability: Raleigh’s cost of living is slightly above the national average but remains more affordable than many major U.S. metropolitan areas.
• Expenses: Day-to-day expenses such as groceries, transportation, and healthcare, while priced slightly higher than average, are manageable with a $174,000 income.
• Taxes: North Carolina has a flat income tax rate of 5.25%, considered competitive and favorable for high earners.

Housing Market

• Home Prices: The median home price in Raleigh hovers around $400,000, which is higher than the national median but reasonable given the quality of life and local amenities.
• Affordability: With an income of $174,000, home ownership in Raleigh is highly feasible, allowing for options in desirable neighborhoods.
• Renting: Average rent for a two-bedroom apartment is approximately $1,600 per month, affordable within this income range.

Quality of Life

• Cultural and Recreational Activities: Raleigh offers a rich array of museums, parks, and community events, contributing to a high quality of life.
• Job Market: A progressively growing tech hub, Raleigh presents robust job opportunities, enhancing economic stability and career growth.

Access to Healthcare

• Facilities: Raleigh is home to leading healthcare facilities and is part of the Research Triangle, benefiting from medical advancements and high-quality care.
• Quality: Excellent healthcare services are widely accessible, with numerous hospitals and clinics providing comprehensive care.

Quality of K-12 Schools

• Public and Private Options: Raleigh boasts reputable public schools and a variety of prestigious private schools, offering strong educational foundations.
• Performance: Schools in the area are recognized for high performance, with advanced placement courses and diverse extracurricular offerings.

Summary of Assessment

Living in Raleigh, NC, with an annual income of $174,000 affords a high quality of life with financial stability. While the cost of living and home prices are slightly above national averages, the salary allows comfortable management of these costs