What's the Cost of Living in Morrisville, NC?

What's the Cost of Living in Morrisville, NC?

Is Morrisville, NC, an expensive place to live? Here is what you need to know about the cost of living in Morrisville.

Located between Raleigh and Durham in Wake County, Morrisville is one of the most sought-after communities in North Carolina. Offering the perfect combination of small-town charm and big-city amenities, Morrisville is a thriving community with over 32,000 residents. 

Situated 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. With top-rated schools, family-friendly neighborhoods, abundant green spaces, and a thriving business district, it's no wonder that young professionals, growing families, and established residents alike are drawn to Morrisville real estate. 

But with popularity comes questions about affordability. Whether you are a first-time homebuyer exploring your options, a growing family looking to upgrade, or a professional relocating to the Research Triangle area, understanding the cost of living in Morrisville is essential for making an informed decision about your next move.

If you are considering a move to Morrisville, here is a comprehensive breakdown of what it costs to call Morrisville home. 

Let's explore the cost of living in Morrisville. 

1. Overall Cost of Living in Morrisville 

Morrisville, North Carolina, has a cost of living that is 3% higher than the national average. This places Morrisville slightly above the North Carolina state average but still below many compareable communities and larger metropolian areas. 

While Morrisville may be one of North Carolina's pricier communities, it delivers exceptional value. The cost of living in Morrisville is similar to other Raleigh suburbs including Apex and Holly Springs. Compared to areas such as Cary and Chapel Hill, Morrisville is considered affordable. 

The majority of Morrisville's higher cost of living stems from housing expenses, which is typical for desirable suburban communities. However, this reflects the area's strong property values, modern infrastructure, and high-quality construction standards that make up most of the town's residential developments.

Here are some typical expenses and cost of living averages in Morrisville, NC: 

2. High Earning Potential 

Morrisville residents enjoy strong earning potential. The median household income in Morrisville is $125,404, which is greater than North Carolina's median annual income of $69,904. This high income level helps offset the higher living costs and demonstrates the area's strong economy. 

The per capita income stands at $56,378, reflecting the town's educated workforce and proximity to high-paying tech and research jobs in the Research Triangle area.

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 4.8%, while the national poverty rate is 11.1%.

3. Housing Costs in Morrisville 

Housing represents the largest expense for Morrisville residents, but the market offers diverse options across different price points and housing types.

The median list price in Morrisville is $620,205, Morrisville real estate remains competitive compared to similar markets in other areas. With an average price per square foot of $251, most homes spend an average of 43 days on the market. 

Currently considered a seller's market, the Morrisville housing market is competitive and most desirable properties recieve multiple offers. Home prices will vary depending on the neighborhood, home type, and specific location within the town.

Morrisville has demonstrated consistent property value growth, even during market downturns. The combination of limited land availability, strong job market, and excellent schools creates sustained demand that supports property values.

While purchase prices are high, Morrisville homeowners often experience lower total ownership costs due to quality construction, energy efficiency, low crime rates, and walkable neighborhoods. 

Given Morrisville's competitive market, successful buyers typically:  

• Get pre-approved before house hunting
• Work with agents experienced in the local market
• Be prepared to make quick decisions on desirable properties
• Consider slightly expanding search radius for better value

4. Most Expensive Vs. Most Affordable Areas in Morrisville 

Morrisville is home to very beautiful neighborhoods that are perfect for families, young adults, and retirees. Offering a diverse range of housing options, there are plenty of communities to call home no matter your budget or lifestyle. 

The premium neighborhoods in Morrisville are higher income areas typically found in the west part of the city. Some of the most expensive Morrisville neighborhoods include: 

Breckenridge 

The neighborhood of Breckenridge is a top-rated Morrisville community that offers a high-end lifestyle for its residents. This master-planned community features resort-style pools, tennis courts, walking trails, and clubhouse facilities. 

Weston Estates 

Weston Estates mostly features expansive homes that are competitively priced. This is a well-established community that dates back to 1999, and construction was completed around 2004.

Weston Estates offers some of Morrisville's most impressive homes and is best known for its large lots and low turnover. This community offers a well-maintained, family-friendly way of life. Residents appreciate its clean, peaceful atmosphere and the convenience it offers due to its proximity to local amenities. 

For more budget-friendly and affordable options, Morrisville has no shortage of family-friendly neighborhoods to choose from. Check out these affordable neighborhood options that offer qualitu living at accessible prices: 

Shiloah Grove 

Shiloah Grove is a top-rated community that offers modern convenience at competitive prices. Featuring mostly mid-size homes, this well-established community offers beautiful homes at impressive value. 

Comprised of mostly single-family homes and townhomes, there are playground areas, walking trails, and community green spaces that residents enjoy. Great for families, this neighborhood is served by highly-rated Wake County School System. 

Wellington 

Wellington is an established neighborhood that is one of Morrisville's most beloved communities with mature trees and a family-friendly atmosphere. Offering a mixture of traditional and colonial architecutral styles, this community features a pool and tennis courts. 

5. Utilities

Utility costs in Morrisville remain relatively moderate compared to the national average. Known to be 10% lower than the national average, residents typically see lower electricity bills due to North Carolina's competitive energy market and the area's moderate climate. Water and sewer services are efficiently managed by the town, keeping costs predictable for homeowners and renters alike.

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.

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.

Waste management

Garbage, recycling, and waste management are provided through the Morrisville public works department and waste industries. The fee for these services is included in your property taxes, so residents do not receive a separate bill.

6. Transportation

Transportation expenses consist of bus fares and gas prices and are 8% lower than the national average. Morrisville's strategic location offers residents multiple transportation advantages. 

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.

The shorter commute distances common in Morrisville help residents save on gas, vehicle wear, and time compared to more distant suburban communities. 

7. Food and Grocery Costs 

Morrisville's grocery prices are silmilar to the national average and the dining scene reflects the diverse population. Offering delicious restaurants and multple grocery store options from budget-friendly chains to upscale markets, residents always have access to fresh and local produce at competitive prices. 

Methodology 

Data was sourced from Payscale and the U.S. Census Bureau to determine the cost of living in Morrisville, NC. 

FAQs

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?

Morrisville, NC, is a great place to live and is one of the best places to live in North Carolina due to its prime location, educational opportunities, and thriving job market. 

Is Morrisville, NC, an excellent place to raise a family?

Yes, Morrisville is a very family-friendly town in North Carolina perfect for raising a family thanks to its low crime rate, top-rated amenities, and highly-rated school district. 

Find Your Dream Home in Morrisville, NC - The Bottom Line 

While Morrisville's cost of living sits above the national average, this higher cost of living reflects the exceptional value for residents. Morrisville is a great place to raise a family due to its deliberate investments in infrastructure, education, and community amenities that create a truly desirable place to live.

Offering an array of neighborhoods that offer different amenities and value, resisdents can choose from luxury developments in the western areas to charming established neighborhoods. There's a perfect fit for every lifestyle and budget. 

After considering the cost of living in Morrisville, you will be able to decide if Morrisville is a good fit for you and your family. The main factors to consider are your income and career, the housing market, utilities, transportation, and grocery expenses. Hopefully, after deep diving into the cost of living, you can begin to budget and officially plan your move to Morrisville, NC.

Are you ready to explore what Morrisville has to offer? Contact Raleigh Realty today to discover your perfect home in this thriving North Carolina community. Our knowledgable real estate specialists will help you navigate Morrisville's diverse neighborhoods, understand true value beyond the price tag, and find the right fit for your lifestyle and budget.