If you’re weighing your options between Wilmington and Raleigh, you’re not alone. These two North Carolina cities each have their unique perks, but how do they stack up when it comes to the cost of living? Let’s break it down and see why Wilmington might just win you over.
Housing Costs
First things first—let’s talk housing. In Wilmington, you’ll find that home prices are generally more affordable. According to Zillow, the median home price in Wilmington is about 15-20% lower than in Raleigh. That’s a big deal, especially if you’re looking to get more bang for your buck. Herrington Classic Homes offers some beautiful options, both townhomes and single-family, that won’t break the bank.
In Raleigh, the average home price has been climbing steadily, thanks to the tech boom and an influx of new residents. While it’s great for the city’s growth, it also means you might end up paying a premium for a place to live.
Property Taxes
Nobody likes paying taxes, but it’s a reality we all deal with. Here’s the silver lining: Wilmington has lower property tax rates compared to Raleigh. According to the North Carolina Department of Revenue, you can expect to pay around 10-15% less in property taxes in Wilmington, which can add up to significant savings over time.
Everyday Expenses
Let’s face it—daily expenses can add up. Wilmington offers a more budget-friendly lifestyle, with groceries, dining, and utilities costing about 8-12% less than in Raleigh, according to Numbeo. Plus, the city’s coastal vibe means there are plenty of free or low-cost activities, like hitting the beach or enjoying one of the many local festivals.
Raleigh, being a larger metro area, tends to have higher prices for everyday essentials. While the city is packed with amenities, the costs can sneak up on you.
Transportation
Getting around in Wilmington is a breeze. The city has shorter commute times, meaning you’ll spend less on gas and car maintenance. According to INRIX, Wilmington residents save 10-15 minutes per commute compared to those in Raleigh. That might not sound like much, but over a year, those minutes turn into hours, and those hours can mean more time enjoying the coastal lifestyle.
Raleigh, with its larger population, has more traffic congestion. Longer commutes mean more money spent on gas and wear and tear on your vehicle.
Healthcare and Education
When it comes to healthcare and education, both cities have solid options. However, Wilmington tends to be a bit more affordable. For instance, healthcare costs are around 5-7% lower in Wilmington, according to HealthCare.gov, which can make a difference, especially for families or retirees.
Overall Quality of Life
Here’s where Wilmington really shines. With its lower cost of living, you can enjoy a fantastic quality of life without stretching your budget. From the beautiful beaches to the historic downtown, Wilmington offers a relaxed, friendly atmosphere that’s hard to beat.
Raleigh has a lot going for it, no doubt about it. But if you’re looking for a place that offers a lower cost of living and a laid-back lifestyle, Wilmington might be your perfect match. With more affordable housing, lower taxes, and everyday expenses, it’s easy to see why more people are choosing to call Wilmington home. Contact us today to learn about move-in-ready homes in the Wilmington area!