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Raleigh-Cary, NC vs Person County, NC
A 2-bedroom in Person County costs $802 less per month than Raleigh-Cary ($948 vs $1,750). Median income is $96,066 in Raleigh-Cary and $64,927 in Person County. That's a difference of $9,624 per year in housing costs.
Side-by-Side Comparison
| Metric | Raleigh-Cary | Person County |
|---|---|---|
| Studio FMR | $1,524 | $739 |
| 1BR FMR | $1,596 | $744 |
| 2BR FMR | $1,750 | $948 |
| 3BR FMR | $2,196 | $1,318 |
| 4BR FMR | $2,936 | $1,377 |
| Median Income | $96,066 | $64,927 |
| Rent Burden | 21.9% | 17.5% |
| Actual Median Rent | $1,459 | $796 |
| Median Home Value | $381,000 | $192,800 |
| Population | 1.4M | 39K |
| Renter % | 33% | 24.1% |
| Vacancy Rate | 7.6% | 12.3% |
| Poverty Rate | 8.6% | 18.4% |
| Unemployment | - | 3.2% |
| YoY Change | - | - |
| Min Wage | $7.25/hr | $7.25/hr |
Income Required to Afford a 2-Bedroom
Raleigh-Cary, NC
Annual Income Needed
$70,000
Hourly Wage Needed
$34/hr
Min Wage Work Hours/Week
185.7 hrs
at $7.25/hr (NC min wage)
Person County, NC
Annual Income Needed
$37,920
Hourly Wage Needed
$18/hr
Min Wage Work Hours/Week
100.6 hrs
at $7.25/hr (NC min wage)
Frequently Asked Questions
Person County, NC is more affordable with a 2BR FMR of $948/mo, which is $802 less than Raleigh-Cary at $1,750/mo. However, when considering local incomes, Raleigh-Cary has a rent burden of 21.9% vs 17.5% in Person County.
A 2-bedroom in Raleigh-Cary, NC costs $1,750/mo at Fair Market Rent, while in Person County, NC it's $948/mo, a difference of $802/mo or $9,624/year.
To afford a 2BR without spending more than 30% of income on rent: Raleigh-Cary requires $70,000/year ($34/hr). Person County requires $37,920/year ($18/hr).
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