The 10 Cheapest Raleigh, NC Neighborhoods To Live In For 2019


We used science and data to determine which neighborhoods in Raleigh are the cheapest of the cheap.

Editor’s Note: This is our first time ranking the cheapest neighborhoods to live in Raleigh.
Cheapest Neighborhoods In Raleigh

Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.

I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.

And while every neighbhorhood in Raleigh might be more expensive than living in rural North Carolina, there are certain neighborhoods that are definitely cheaper.

So what exactly are those Raleigh neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?

Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Raleigh are the cheapest.

Here are the cheapest neighborhoods in Raleigh for 2019:

  1. Northeast (Homes)
  2. South (Homes)
  3. Southeast (Homes)
  4. North (Homes)
  5. West (Homes)
  6. Northwest (Homes)
  7. Southwest (Homes)
  8. Wade (Homes)
  9. East Raleigh (Homes)
  10. Hillsborough (Homes)

What’s the cheapest neighborhood to live in Raleigh for 2019? According to the most recent census data, Northeast looks to be the cheaptest Raleigh neighborhood to live in.

At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Raleigh. You could be sacrificing location or crime rates in return for more space and cheaper groceries.

Read on to see how we determined the places around Raleigh that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Raleigh.

Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.

For more North Carolina reading, check out:

How We Determined The Cheapest Raleigh Hoods In 2019

In order to rank the cheapest places to live in Raleigh, we had to determine what criteria defines ‘cheap’.

Using census and extrapolated BLS data, we arrived at the following set of criteria:

  • Overall Cost Of Living
  • Rent To Income Ratio
  • Median Home Value To Income Ratio

We then ranked each neighborhood with scores from 1 to 18 in each category, where 1 was the cheapest.

Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.

And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the ‘Cheapest City Neighborhood In Raleigh.’ We’re lookin’ at you, Northeast.

Read on below to learn more about what it’s like to live in the cheapest places Raleigh. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.

The 10 Cheapest Neighborhoods To Live In Raleigh For 2019

Overall SnackAbility

7
/10

Population: 87,424
Cost Of Living Index: 98 (6th cheapest)
Home Value To Income Ratio: 2.7 (1st cheapest)
Rent To Income Ratio: 0.017 (9th cheapest)
More on Northeast: Homes For Sale | Data

The median income in Northeast comes in at $56,500 and the median home value is $154,814 for 2019.

Overall SnackAbility

5
/10

Population: 17,197
Cost Of Living Index: 93 (2nd cheapest)
Home Value To Income Ratio: 3.1 (3rd cheapest)
Rent To Income Ratio: 0.018 (11th cheapest)
More on South: Homes For Sale | Data

The median income in South comes in at $42,477 and the median home value is $131,456 for 2019.

Overall SnackAbility

6
/10

Population: 28,074
Cost Of Living Index: 94 (3rd cheapest)
Home Value To Income Ratio: 2.8 (2nd cheapest)
Rent To Income Ratio: 0.022 (14th cheapest)
More on Southeast: Homes For Sale | Data

The median income in Southeast comes in at $43,932 and the median home value is $124,092 for 2019.

Overall SnackAbility

9
/10

Population: 76,649
Cost Of Living Index: 109 (11th cheapest)
Home Value To Income Ratio: 3.3 (5th cheapest)
Rent To Income Ratio: 0.011 (4th cheapest)
More on North: Homes For Sale | Data

North Raleigh is an expansive, diverse, and fast-growing suburban area of the city that is home to established neighborhoods to the south along with many newly built subdivisions and along its northern fringes. The area generally falls North of Millbrook Road. It is primarily suburban with large shopping areas. Primary neighborhoods and subdivisions in North Raleigh include Bartons Creek Bluffs, Bedford, Bent Tree, Black Horse Run, Brier Creek, Brookhaven, Coachman’s Trail, Crossgate, Crosswinds, Dominion Park, Ethan’s Glenn, Falls River,Greystone Village, Harrington Grove, Hidden Valley, Lake Park, Long Lake, North Haven, North Ridge, Oakcroft, Shannon Woods, Six Forks Station, Springdale Estates, Stonebridge, Stone Creek, Stonehenge, Summerfield, Valley Estates, Wakefield, Weathersfield, Windsor Forest, and Wood Valley. The area is served by a number of primary transportation corridors including Glenwood Avenue U.S. Route 70, Interstate 540, Wake Forest Road, Millbrook Road, Lynn Road, Six Forks Road, Spring Forest Road, Creedmoor Road, Leesville Road, Norwood Road, Strickland Road, and North Hills Drive.

The median income in North comes in at $80,005 and the median home value is $266,389 for 2019.

Overall SnackAbility

8
/10

Population: 37,998
Cost Of Living Index: 98 (6th cheapest)
Home Value To Income Ratio: 3.3 (4th cheapest)
Rent To Income Ratio: 0.018 (12th cheapest)
More on West: Homes For Sale | Data

The median income in West comes in at $49,446 and the median home value is $161,100 for 2019.

Overall SnackAbility

9
/10

Population: 81,974
Cost Of Living Index: 112 (14th cheapest)
Home Value To Income Ratio: 3.5 (7th cheapest)
Rent To Income Ratio: 0.012 (5th cheapest)
More on Northwest: Homes For Sale | Data

The median income in Northwest comes in at $78,719 and the median home value is $279,428 for 2019.

Overall SnackAbility

6
/10

Population: 22,629
Cost Of Living Index: 95 (4th cheapest)
Home Value To Income Ratio: 3.4 (6th cheapest)
Rent To Income Ratio: 0.024 (16th cheapest)
More on Southwest: Homes For Sale | Data

The median income in Southwest comes in at $38,691 and the median home value is $132,067 for 2019.

Wade Raleigh, NC

Overall SnackAbility

9
/10

Population: 8,992
Cost Of Living Index: 122 (15th cheapest)
Home Value To Income Ratio: 4.5 (10th cheapest)
Rent To Income Ratio: 0.009 (3rd cheapest)
More on Wade: Homes For Sale | Data

The median income in Wade comes in at $86,021 and the median home value is $387,250 for 2019.

Overall SnackAbility

6
/10

Population: 11,665
Cost Of Living Index: 99 (7th cheapest)
Home Value To Income Ratio: 4.1 (8th cheapest)
Rent To Income Ratio: 0.02 (13th cheapest)
More on East Raleigh: Homes For Sale | Data

The median income in East Raleigh comes in at $42,542 and the median home value is $175,225 for 2019.

Hillsborough Raleigh, NC

Overall SnackAbility

9
/10

Population: 14,634
Cost Of Living Index: 106 (8th cheapest)
Home Value To Income Ratio: 5.0 (15th cheapest)
Rent To Income Ratio: 0.013 (6th cheapest)
More on Hillsborough: Homes For Sale | Data

Hillsborough Street is a business and cultural thoroughfare through Raleigh, North Carolina, United States. The street serves as a center for social life among North Carolina State University and Meredith College students.

The median income in Hillsborough comes in at $50,986 and the median home value is $256,791 for 2019.

Summing Up The Cheapest Places In Raleigh

If you’re measuring the neighborhoods in Raleigh where prices are low and it’s cheap to live, this is an accurate list.

As we mentioned earlier, the neighborhoods in Raleigh aren’t all cheap. Central takes the title of the most expensive neighborhood to live in Raleigh.

We ranked the neighborhoods from cheapest to most expensive in the chart below.

For more North Carolina reading, check out:

Detailed List Of The Cheapest Neighborhoods To Live In Raleigh For 2019

Rank Neighborhood Cost Of Living Index
1 Northeast 98
2 South 93
3 Southeast 94
4 North 109
5 West 98
6 Northwest 112
7 Southwest 95
8 Wade 122
9 East Raleigh 99
10 Hillsborough 106
11 Five Points 137
12 Glenwood 149
13 Falls Of Neuse 111
14 South Central 93
15 Mordecai 111
16 Six Forks 124
17 North Central 106
18 Central 107

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

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