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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Moving to Raleigh looks like a financial upgrade — better income-to-cost ratio.
Raleigh has a cost index of 105 vs 108 for Tampa. Raleigh is 3 points cheaper overall. Monthly rent goes from $1,968 to $1,567 (-20%).
If you earn the Tampa median of $71,302, you would need approximately $69,321/year in Raleigh to maintain equivalent purchasing power, based on the cost index difference of 3 points (3%).
Median rent in Tampa is $1,968/month. In Raleigh it is $1,567/month — a difference of $401 per month, or $4,812 per year.
Moving to Raleigh looks like a financial upgrade — better income-to-cost ratio. The salary equivalent to maintain your current lifestyle is $69,321/year in Raleigh. The median income there is $82,424.
Estimated monthly essentials total $4,026 in Tampa vs $3,561 in Raleigh — a difference of $465/month ($5,580/year).
The median home price in Raleigh is $428,831 vs $369,079 in Tampa. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $2,168 in Raleigh vs $1,866 in Tampa.