Mortgage Payment

In Raleigh, the median rent is approximately $1,700 per month while a monthly mortgage payment on a median-priced home runs closer to $2,700 to $2,900 — before property taxes and insurance. The month-to-month cost gap is real. But renting vs. buying isn’t purely a monthly payment comparison: it’s a long-term wealth calculation that depends on how long you plan to stay, how you structure the purchase, and whether you factor in rent increases, equity growth, and the Triangle’s historic appreciation trend. For buyers planning to stay five or more years, the math often shifts toward buying.