Denver vs Raleigh: cost of living compared
Raleigh is 22% cheaper than Denver overall. State income tax tops out around 4.4% in CO vs 4.5% in NC.
Indexes use a US average of 100: below 100 is cheaper than the national average. Housing and transportation are derived from median home prices, rents and commute times; figures come from BLS, Census ACS, Numbeo and the MIT Living Wage Calculator.
The big picture
Comparing Denver and Raleigh reveals a significant difference in overall cost of living, with Denver being considerably more expensive. This gap is primarily driven by housing costs, which are substantially higher in the Mile High City. While some categories like utilities are roughly similar, most other expenses, including transportation, food, and healthcare, also contribute to Denver's higher price tag, making Raleigh a much more budget-friendly option across the board.
Housing
Housing presents the most striking cost difference. Both median home prices and typical rental rates for a one-bedroom apartment are noticeably higher in Denver. Raleigh offers more accessible homeownership and rental opportunities. Denver's housing stock often includes older brick homes and modern developments, while Raleigh features a mix of newer suburban homes and historic properties. Property taxes and insurance costs will vary, but the initial purchase or rental price is a major differentiator.
Taxes and everyday costs
Daily expenses show Raleigh as generally more affordable. Food, healthcare, and miscellaneous goods and services are all cheaper in Raleigh. Transportation costs are also lower there, despite similar average commute times. Utilities are roughly comparable between the two metros. State income tax rates are very close, with Raleigh's being a tiny bit higher, but this difference is minor compared to other spending categories.
Lifestyle trade-offs
Beyond costs, a move between these cities means a shift in environment. Denver offers a mountain climate with distinct seasons, abundant sunshine, and proximity to outdoor recreation in the Rockies. Raleigh, in contrast, has a humid subtropical climate with hot summers and mild winters, and is known for its lush greenery and proximity to the Atlantic coast. Both cities have growing populations, but Denver often feels more densely developed, while Raleigh maintains a slightly more spread-out feel.
Bottom line
For those weighing a move, the financial implications are clear: Raleigh offers a significantly lower cost of living, primarily due to much more affordable housing. While state income taxes are nearly identical, nearly every other major expense category, from groceries to healthcare, is cheaper in Raleigh. A household budget will stretch considerably further in the Research Triangle, allowing for more discretionary spending or savings compared to the higher expenses found in the Front Range city.
| Measure | Denver, CO | Raleigh, NC |
|---|---|---|
| Overall cost of living (US avg = 100) | 128 | 100 |
| Housing index | 146 | 106 |
| Transportation index | 104 | 97 |
| Food index | 105 | 95 |
| Healthcare index | 108 | 95 |
| Utilities index | 98 | 98 |
| Misc index | 108 | 90 |
| Median home price | $548,000 | $388,000 |
| Median 1-bedroom rent | $1,950/mo | $1,500/mo |
| Average commute | 28 min | 27 min |
Compare any two metros with the free cost of living tool, or see the true monthly cost of a specific Raleigh home with the True Cost Calculator.