What's the Cost of Living in Morrisville, NC?
October 14th, 2022
What's the Cost of Living in Morrisville, NC?
Are you planning your next move and considering Morrisville, North Carolina? Take a look at the cost of housing, utilities, and more!
Morrisville is a town mainly in Wake County, but some areas extend into Durham County. Located west of the Raleigh Durham International Airport and south of Research Triangle Park, this location allows for growth and increases the area's population, diversity, and opportunities.
Money Magazine names Morrisville the #10 best place to live in 2020. This is partly due to the proximity to Research Triangle Park and the arrival of biotech companies like FujiFilm, Diosynth, and Clinipace. Along with being the #10 best place to live, Slacker listed Morrisville as the #1 place for resident jobs, housing, and educational opportunities.
If you're moving to Morrisville, you will want to know the answer to the cost of living in Morrisville.
History
The town of Morrisville was named after Jeremiah Morris in 1852. He originally donated the land to the North Carolina Railroad for a depot, water tower, and other buildings. In 1865 the Battle of Morrisville took place. Under the leadership of Gen. Judson Kilpatrick, the troops took all of their supplies and headed west to Greensboro. Luckily, Gen. William Tecumseh forced them to leave the train behind, and the town was officially chartered in 1875. There was a minor setback when the town was incorporated in 1933, but it was restored in 1947.
Cost of Living
According to payscale, the cost of living in Morrisville is 0% lower than the national average. Factors to consider when determining where to move to include your salary, career, daily expenses, etc. The cost of living in Morrisville is in the top 6% of the most expensive cities in the world. Take a look at the data from the most recent US Census to understand better the average cost of rent, mortgage apartments, and more!
| Cost of Living Item | Morrisville, NC | National Average |
| Annual income | $47,565 per person* | $35,384 per person* |
| Rent | $1,459* | $1,096* |
| Mortgage Payment | $1,957* | $1,621* |
| Natural gas (therm) | $1.23 | $1.57 |
| Electricity (kWh) | $0.11 | $0.14 |
| Food (Gallon of milk) | $2.88 | $4.33 |
| Transportation (Gallon of gas) | $3.37 | $3.84 |
| Income tax rate | 5.5% | 13.3.% |
*Denotes median rather than average
Income
The annual average income per person in Morrisville, NC, is $47,565, while the average household income is $100,495. Morrisville's yearly income is $12,181 higher than the national average ($35,384)
The minimum wage in Morrisville, NC, is $7.25, equal to the federal minimum wage. The low minimum wage could affect the poverty rate in Morrisville, which currently sits at 5.1%, while the national poverty rate is 11.6%.
Housing Cost
The average price of homes in Morrisville is $384,600, while the home appreciation has been 67.4% in the last ten years. Morrisville has an abundance of excellent neighborhoods to find your dream home.
Breckenridge is one of the most popular neighborhood choices in the area. The average cost of homes in this neighborhood is around $418,000. Most houses are detached-style properties, but the subdivision also includes a few townhouses. Homes in this neighborhood range from the low 200s to mid-400s, and it is known to attract residents due to its proximity to Raleigh Durham Internation Airport, Research Triangle Park, great shops, restaurants, and more!
The cost of homes in Morrisville is in line with many homes for sale in the Raleigh area.
Utilities
Utilities are one of the first things you need to set up when moving and buying a new home. Below we have provided the primary service providers for electricity, water, natural gas, and waste management in the town of Morrisville, NC, along with rates and fees.
Water
The Town of Cary handles water and sewer services in Morrisville. The B. Everett Jordan reservoir is the source of water around Morrisville, and it is treated at the Cary/Apex water treatment facility. The town uses a tier system to determine rates.
| Tier | Water usage | Water rate |
| Tier 1 | 1 - 5,000 gallons | $4.95 |
| Tier 2 | 5,001 - 8,000 gallons | $5.55 |
| Tier 3 | 8,001 - 23,000 gallons | $7.01 |
| Tier 4 | Usage > 23,000 gallons | $12.51 |
Electricity
Duke Energy provides electricity around the town of Morrisville. Their goal is to have a 50% carbon reduction from electric generation by 2030. Check out the rates they offer.
| Monthly facilities charge | $14.00 |
| Billing for the months July-October | $0.116 |
| Billing for months November-June | $0.10659 |
Natural gas
PSNC/Public gas, also known as Dominion Energy, is the service provider for natural gas in Morrisville, NC
| Facilities charge | $10.00 |
| Charge for November-April | $1.2668 |
| Charge for May-October | $1.18775 |
Waste management
Garbage, recycling, and waste management are provided through the Morrisville public works department and waste industries/GFL. The fee for these services is included in your property taxes, so residents do not receive a separate bill.
Transportation
As of October 2021, Morrisville offers the Morrisville Smart Shuttle, which provides free transportation around the town to residents, commuters, and visitors. They also have the regional service GoTriangle, which includes bus routes that serve the Triangle area.
The town of Morrisville and the North Carolina Department of Transportation (NCDOT) maintain the roads in Morrisville to ensure residents and commuters have a safe and easy route.
Morrisville is also home to various parks, greenways, and community centers that offer great amenities and several exercise, relaxation, and recreational opportunities. Some include the Morrisville Community Park, Crabtree Creek Nature Park, Shiloah Park, and Northwest Park.
Taxes
Taxes are a significant factor to consider when planning a move, especially if you're coming from out of state. Look at the tax rates in North Carolina and Morrisville, NC.
| Tax Rate | Percentage |
| North Carolina Sales Tax Rate | 4.75% |
| Wake County Sales Tax Rate | 2.5% |
| Morrisville Sales Tax Rate | 0% |
| Combined State and Local Sales Tax Rate | 7.25% |
| Morrisville Income Tax Rate | 5.5% |
| Corporate Income Tax Rate | 2.5% |
FAQ
What is Morrisville, NC, known for?
Morrisville is known for being one of the most diverse towns in the state, mainly due to the research triangle park and the expansion of the technology job market.
Is Morrisville, NC, an excellent place to live?
In 2021, Morrisville, NC, was named the best place to live in North Carolina by Niche.
Is Morrisville, NC, an excellent place to raise a family?
Yes. Morrisville has consistently been named one of the best places to live due to low crime rates, good schools, affordable cost of living, great job opportunities, and more!
Find your dream home in Morrisville, North Carolina
Morrisville is a great place to live and raise a family. There is something for everyone to enjoy, with fantastic shops, restaurants, jobs, scenery, etc.
After considering the cost of living in Morrisville, You'll be able to decide if Morrisville is a good fit for you or your family. The main factors to consider are your income/career, the housing market, utilities like water and electricity, transportation, and more. Hopefully, after deep diving into the cost of living, you can begin to budget and officially plan your move to Morrisville, NC.
Raleigh Realty can help you find the perfect home when you're ready to leap. Contact us today to connect with one of our Realty Specialists! We are here to help and answer any questions that you may have.
Ryan Fitzgerald
Hi there! Nice to 'meet' you and thanks for visiting our Raleigh Real Estate Blog! My name is Ryan Fitzgerald, and I'm a REALTOR® in Raleigh-Durham, NC, the owner of Raleigh Realty. I work alongside some of the best Realtors in Raleigh. You can find more of my real estate content on Forbes, Wall Street Journal, U.S. News and more. Realtor Magazine named me a top 30 under 30 Realtor in the country (it was a long time ago haha). Any way, that's enough about me. I'd love to learn more about you if you'd like to connect with me on Facebook and Instagram or connect with our team at Raleigh Realty. Looking forward to connecting!