Holly Springs, NC, is a rapidly growing town that blends a thriving local economy with small-town charm. It is conveniently located near Raleigh, RTP, and major highways and has become an attractive destination for families and professionals. As the town expands, understanding the cost of living in Holly Springs is essential for anyone considering a move. This guide explores housing, everyday costs, and how the town compares to other cities.
Housing Costs in Holly Springs, NC
Its booming housing market significantly influences the cost of living in Holly Springs. The median home price is $635,000, reflecting a 12% year-over-year increase. Resale homes are more affordable, starting around $400,000, offering options for various budgets. For renters, costs average $2,000 per month, with most single-family homes and townhomes ranging between $1,800 and $2,200.
As tech companies and high-paying jobs continue to move into the area, housing prices are expected to climb further. This upward trend highlights Holly Springs as a hub for professionals seeking quality homes near major employment centers.
Everyday Costs and Utilities
Everyday costs in Holly Springs, NC, align with the national average. Groceries, fuel, and entertainment are generally comparable to costs in other towns across the U.S. Utilities for most homes include gas and electric, with winter heating costs varying slightly for gas-heated homes. Air conditioning and heating expenses remain manageable year-round, reflecting moderate utility costs for residents.
Cost of Living in Holly Springs Compared to Other Cities
Although housing prices in Holly Springs are higher than in some nearby towns, they are much more affordable than larger cities. For example, Miami has a 19% higher cost of living and 54% higher housing costs. San Francisco is even more expensive, with a 70% higher cost of living and housing prices 182% higher. Holly Springs offers a balanced alternative, combining affordability with accessibility to employment hubs like Raleigh.
Property taxes also contribute to the overall cost of living in Holly Springs, with the average annual tax for a $635,000 home being $5,400. State income taxes, set to decrease to 4% in 2025, add further financial relief for residents.
Strong Local Economy and Income Levels
Holly Springs benefits from a robust local economy, supported by high-paying jobs, particularly in the tech sector. The median household income is $128,000, well above the national average. This economic strength ensures that residents enjoy both earning potential and opportunities for growth while balancing the town’s higher housing costs.
Conclusion
The cost of living in Holly Springs, NC, reflects its status as a growing and prosperous community. While housing prices are higher than average, they remain competitive compared to major cities. Everyday costs are manageable, and the thriving local economy supports a high quality of life. For those seeking a mix of modern amenities and small-town charm, Holly Springs offers an excellent balance of affordability and opportunity.
