The average Raleigh renter pays over $1,700 less a month than someone who owns a home in the region, per a new Zillow report.
Why it matters: As Raleigh home prices remain sticky amid high interest rates, it’s more evidence that renting might be the way to go for some people.
By the numbers: The typical Raleigh renter pays $1,675 a month, whereas the typical new home buyer pays $3,460 a month for their mortgage, insurance and taxes.
- Over the course of a year, that’s a $21,420 difference.
Between the lines: That cost difference between owning and renting is why some developers are still targeting Raleigh for thousands of new apartments even after a record number of apartments were built…