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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 114 for Worcester. Raleigh is 9 points cheaper overall. Monthly rent goes from $2,150 to $1,567 (-27%).
If you earn the Worcester median of $67,544, you would need approximately $62,212/year in Raleigh to maintain equivalent purchasing power, based on the cost index difference of 9 points (8%).
Median rent in Worcester is $2,150/month. In Raleigh it is $1,567/month — a difference of $583 per month, or $6,996 per year.
Moving to Raleigh looks like a financial upgrade — better income-to-cost ratio. The salary equivalent to maintain your current lifestyle is $62,212/year in Raleigh. The median income there is $82,424.
Estimated monthly essentials total $4,303 in Worcester vs $3,561 in Raleigh — a difference of $742/month ($8,904/year).
The median home price in Raleigh is $428,831 vs $423,326 in Worcester. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $2,168 in Raleigh vs $2,141 in Worcester.