Morrisville is considered moderately expensive in 2025, with average rent for a 2-bedroom apartment around $1,950 and slightly higher grocery costs compared to the national average.
Housing Costs in Morrisville
Housing is the biggest expense for most Morrisville residents. Typical housing options include apartments, townhomes, and single-family homes. Rents for a 2-bedroom apartment range from $1,700 to $2,200 per month, with an average around $1,950. Buying a 3-bedroom house costs between $450,000 to $600,000 depending on the neighborhood, age of the home, and amenities.
Some of the more affordable areas for renting include Park West Village and Breckenridge, while Preston and The Hamptons tend to have higher-end apartments and homes for sale. Many neighborhoods have homeowners associations (HOAs) which can add $200 to $400 per month in fees for maintenance and amenities like pools and fitness centers.
Here’s a comparison of average housing costs in Morrisville:
| Housing Type | Average Monthly Cost |
|---|---|
| 1-bedroom apartment | $1,450 |
| 2-bedroom apartment | $1,950 |
| 3-bedroom house (mortgage) | $2,600 |
Utilities and Energy Bills
Basic utilities like electricity, water, gas, and trash collection add to the monthly expenses in Morrisville. Expect to pay around $180 per month for a 1,000 square foot apartment. Larger homes will have higher utility costs, especially in the summer when air conditioning use peaks. Budget $250 to $350 per month for a 3-bedroom house.
Here’s an estimate of typical monthly utility costs:
- Electricity: $100-$150
- Water & Sewer: $50-$80
- Natural Gas: $30-$50
- Trash Collection: $20-$30
- Internet: $60-$80
Groceries and Daily Expenses
Groceries in Morrisville cost about 5% more than the national average. Plan on spending around $350 per month per person for food, household items, and basic personal care products. A family of four should budget at least $1,000 per month for groceries.
Dining out will add to the monthly food budget. A meal at a casual restaurant averages $15 per person, while a nicer dinner out for two can easily top $80 with drinks, tax and tip. Grabbing a quick lunch costs around $10-$12.
Taxes and Fees to Consider
Morrisville has a property tax rate of 0.39%, which works out to $3,900 annually for a $500,000 home. Vehicle registration fees are $38.75 per year. Sales tax in Wake County, where Morrisville is located, is 7.25% on most purchases.
HOA fees are common in many Morrisville neighborhoods and can range from $100 to $400 per month. Be sure to factor this in when considering a home to rent or purchase.
Sample Monthly Budget
| Expense | Single | Couple | Family of 4 |
|---|---|---|---|
| Housing (rent/mortgage) | $1,450 | $1,950 | $2,600 |
| Utilities | $180 | $220 | $300 |
| Groceries | $350 | $700 | $1,000 |
| Transportation | $200 | $300 | $500 |
| Other (entertainment, clothes, etc) | $500 | $800 | $1,200 |
| Total | $2,680 | $3,970 | $5,600 |
| Gross Monthly Income Needed | $3,350 | $4,960 | $7,000 |
Note that all income figures are expressed as gross monthly income (pre-tax). Actual take-home pay will be lower after taxes and other payroll deductions.
Lifestyle Factors to Consider
When deciding where to live in Morrisville, consider commute times, access to major highways, and proximity to the Research Triangle Park (RTP) where many residents work. Neighborhoods closer to RTP may come with a higher price tag but could significantly reduce time spent in traffic.
Morrisville offers a mix of newer and older homes. Newer construction tends to be more expensive but often includes modern finishes, open floor plans, and neighborhood amenities. Older homes in established areas may provide more square footage for the money, with the tradeoff of potentially needing updates over time.
Access to parks, walking trails, shopping and dining are other factors to consider. Morrisville has several parks, a greenway system, and shopping centers like Park West Village, Grace Park, and Morrisville Square that offer a variety of retail and restaurant options.
Frequently Asked Questions
- What salary do you need to live comfortably in Morrisville?
To live comfortably, a single person needs a gross monthly income around $3,350. A couple would need about $4,960, and a family of four $7,000 or more. - Is Morrisville less expensive than Cary?
Morrisville is slightly less expensive than Cary on average, with lower housing costs. However, this varies by neighborhood. Some areas of Morrisville have prices on par with west Cary. - What are the top 3 costs that surprise newcomers to Morrisville?
People are often surprised by HOA fees, summer electric bills for cooling, and higher auto insurance rates than more rural areas of NC. - How do grocery costs compare to the national average?
Groceries in Morrisville cost about 5% more than the U.S. average. Expect to spend at least $350 per person each month on food and household basics. - What’s the sales tax rate in Morrisville?
The sales tax in Wake County, including Morrisville, is 7.25% as of 2025. This applies to most goods except unprepared foods, which are not taxed. - How much is property tax on a $500,000 house?
With a property tax rate of 0.39%, annual taxes on a $500,000 house would be $3,900. Keep this in mind when comparing moving costs to decide whether to rent or buy. - What’s a typical water bill in Morrisville?
A typical household can expect to pay $50 to $80 per month for water and sewer service. Exact costs depend on usage.