7 Most Affordable Neighborhoods in Raleigh: Raleigh, NC Affordable Living Guide

Most Affordable Neighborhoods in Raleigh: Raleigh, NC Affordable Living Guide

Are you moving to Raleigh and are interested in affordable living? Keep reading to learn more about the most affordable neighborhoods in Raleigh, NC.

Raleigh is a highly ranked and diverse city with many prime locations. With the city experiencing massive growth, moving to Raleigh is a popular decision for families and retirees moving to North Carolina. No matter the location of this city, it has so much to offer every resident. 

Raleigh is a hub for various technology companies, academic institutions, and agriculture industries. Regardless of career, Raleigh has it, mainly due to its booming economy. Depending on your taste and preferences, each neighborhood in Raleigh has something unique. 

In Raleigh's competitive real estate market, finding affordable housing without sacrificing quality of life can feel challenging. However, the City of Oaks offers several vibrant neighborhoods where budget-conscious buyers can still find value and community.

Many Raleigh neighborhoods are family-friendly communities with safe and affordable options. The city's rich history and hot housing market make it a highly desirable location. From picturesque oak-lined streets to all the vibrant energy, Raleigh is a popular place to relocate to. 

If you're looking for an affordable home or up-and-coming neighborhood to live in Raleigh, please get in touch with a local real estate agent to help jumpstart the home-buying process and find you the perfect home. 

Let's explore Raleigh's most affordable neighborhoods and what makes each uniquely appealing for new residents so that you can find your dream home in Raleigh. 

Here are the most affordable neighborhoods in Raleigh, NC.

1. Mordecai

Mordecai is known for its charm and walkability of a neighborhood. This neighborhood is an excellent option for people seeking to settle in an affordable, friendly, tight-knit community with social and health benefits. Just minutes outside the heart of downtown Raleigh, this area has some of the best shopping, excellent restaurants, and top schools. 

There are many things to do in and around Mordecai due to the neighborhood's central location. With the tour at the Mordecai Historic Park, the Oakwood Dog Park, and other highly ranked museums, cafes, and entertainment. 

With over 180 pre-antebellum homes and renovated condos, this neighborhood is prime for convenience, tranquility, affordable rent, and urban nostalgia. Its unique and historic charm is perfect for people moving to the city. 

Mordecai contains some of Raleigh's oldest homes, with prices substantially below neighboring Oakwood. It also offers one of the densest tree canopies in Raleigh, providing significant summer cooling and energy savings.

With a median home price of $325,000 and a median monthly rent of $1,869, this is a popular destination for students, singles, young professionals, and families to find a home. 

So, if you are searching for an affordable option close to the heart of Raleigh but still peaceful and safe, check out homes in Mordecai to find the perfect home for you. 

2. Creedmoor

Creedmoor is a recognizable suburb of Raleigh with a median home price of $315,000. This great suburb is home to almost 4,700 residents who love the beautiful, affordable homes and the many local shops and restaurants nearby. 

Located approximately 20 miles North of downtown Raleigh, Creedmoor offers a small-town atmosphere with proximity to big-city amenities. This growing community provides an attractive alternative for homebuyers seeking affordability while maintaining access to the Triangle region's employment and cultural opportunities.

Known as a great area to raise a family, there is so much to do in the area, and it is just a few miles outside Raleigh. Creedmoor is quickly becoming one of the Triangle's most popular suburbs. It may be a small town, but it offers everything you can do in such proximity. 

Living here is one of the biggest perks of being just minutes from the famous Falls Lake. This recreational area covers over 5,000 acres and is perfect for those who love nature. Bring your boat out, hike, watch the sunset, or enjoy the world around you. 

Creedmoor is a great option for families who want to save money. It features lower property tax rates than Wake County, larger lot sizes, lower municipal utility rates, and reduced homeowners insurance premiums compared to Raleigh. 

Creedmoor may be small. However, it has so much to offer its residents and so much to do. If you are searching for a place to move to that is outside Raleigh but still close in proximity, check out Creedmoor. 

3. Southeast Raleigh 

Southeast Raleigh represents one of the city's most rapidly transforming areas, offering significant value for homebuyers while maintaining proximity to downtown amenities.

Experiencing rapid growth to meet the increased housing demand in Wake County, a surge in new housing developments is transforming this neighborhood into a popular place to live just 20 minutes from the city center. 

Southeast Raleigh is an artistic community with many things to do. Due to its proximity to Raleigh, multiple bus routes connect to downtown, with planned Bus Rapid Transit (BRT) routes to help commuters. 

The area is experiencing significant investment through the Southeast Raleigh Promise initiative, which is improving infrastructure and providing community resources. With a median home price of $265,000, Southeast Raleigh has prime real estate and continues to be one of the most affordable places to live in Raleigh. 

4. Knightdale 

Knightdale is a suburb of Raleigh with a population of 20,275 residents and is one of the best places to live in North Carolina. The benefits of moving to Knightdale go far beyond the affordability, as well as the beautiful parks, top-rated returns, and many fun things to do. 

With many beautiful new construction homes as well as townhomes and apartments, this area is home to some of the top-rated housing in the area. Just a couple minutes from downtown Raleigh, this is a perfect place for families and young professionals and has something for everyone. 

Housing options vary throughout the area. From one-bedroom houses to larger homes with more secluded private areas, each one offers gorgeous, unique architectural styles. The median home price in Knightdale is $424,500.

If you are searching for a quieter and more secluded area to live in but also want to be close to downtown Raleigh, moving to Knightdale may be the best option for you. 

5. Wakefield

Wakefield is a dream location in North Raleigh with a median home price of $350,000-$500,000. It is best for people searching for suburbs. The homes in Wakefield might be for you if you like living in a suburban neighborhood with easy access to downtown Raleigh. 

Located just 30 minutes outside downtown Raleigh, Wakefield has many highly ranked local stores, facilities, and public schools, making it a popular place for people raising families. It is a tight-knit community near the heart of everything, offering a unique experience. This is a perfect place to relocate to. 

Wakefield is split into two connected sections - Wakefield Plantation and Wakefield Estates - creating a diverse community with various housing options. The neighborhood is anchored by the prestigious The Country Club at Wakefield Plantation, designed by Hale Irwin.

Wakefield may be the perfect place if you are searching for a place that is highly affordable, close to many things to do, safe, and family-friendly. 

6. Bryson Village

Bryson Village is a sought-after neighborhood in Raleigh. With a median home price of $362,000, it is an excellent place for people who want to maximize their budgets. This peaceful and family-friendly place to live offers good-sized lots at reasonable prices. 

Located near Interstate 540, Bryson Village allows easy access to many things in and around the Triangle area. This neighborhood comprises single-family homes, townhomes, and some newly added homes. Each home offers many different floor plans with spacious rooms and modern features. 

Just minutes away from downtown Raleigh, this neighborhood is close to many shops and dining options. It also features a gorgeous pond, community center, pool, playground, and many others. Being close to other top-rated schools makes this a popular place for families. 

The homes in Bryson Village are a great option if you are searching for a newer yet affordable place to live outside Raleigh. 

7. Stonehenge

Stonehenge is a great neighborhood located North of Raleigh and below Interstate 540. This community is home to some beautiful and affordable real estate. The median home price for Stonehenge is about $597,000, and this area is best for retirees. 

This residential subdivision offers easy access to Raleigh and convenient transportation around the Research Triangle. It offers various home types, including single-family homes, retirement communities, apartments, and townhomes. 

This residential community is perfect for families and has almost 1,400 single-family residences. The area is popular due to its proximity to many amenities, making it an ideal location for settling down.

The properties in Stonehenge have well-sized lots with mature and beautiful landscaping. The neighborhood is close to local boutiques, award-winning restaurants, and fun activities for all ages. 

Methodology 

Factors such as the cost of living and median home price were considered to determine the most affordable neighborhoods in Raleigh, NC. Data was sourced from WRAL, the U.S. Census Bureau, Wake County Economic Development, and NeighborhoodScout. 

FAQS

Is Raleigh a safe place to live?

Raleigh is ranked as the eighth safest city in the United States due to its low violent and property crime rates. It is 8% safer than other cities in the United States and has a crime rate of 31.88 per 1,000 residents. So, if you are looking for a safe place, Raleigh is an option. 

What is the safest suburb of Raleigh?

The best and safest parts of Raleigh vary depending on the type of area you are searching to live in. Overall, North Raleigh, which has neighborhoods like North Hills, Wakefield, and Crossroads, tends to be the safest. 

How much money do I need to make to live in Raleigh?

According to the U.S. Census Bureau, the median household income in Raleigh is $82,424. With the cost of living below the national average, the number of people who can live comfortably in Raleigh varies depending on your family's size and location. 

What is life like in Raleigh, NC?

Living in Raleigh, you will be living in one of the best cities in the South. It offers affordable living costs, local culture, and high education options. This is an ideal place for young professionals as well as families. This city is booming in many ways and is continuing to grow. 

Most Affordable Neighborhoods in Raleigh - The Bottom Line

Most people look for a place that they love and is affordable. Thankfully, in Raleigh, there are so many unique neighborhoods, suburbs, and nearby cities that offer many different types of living, so anyone and everyone can find a place that fits all of their needs. 

Raleigh is a highly diverse city that provides excellent living opportunities. It has experienced significant growth, and every resident, regardless of location, can find something to enjoy. That's why moving to Raleigh is a popular decision for many.

No matter what your profession is, Raleigh offers something for everyone. Each neighborhood in Raleigh has its unique charm and character, catering to different tastes and preferences. With a rise in homeownership in this city, this is becoming a place where many see their forever home. 

If you're considering a move, you can contact the experts at Raleigh Realty. Our team of experienced real estate professionals is here to help you with home buying or selling needs.