Fuquay Varina is considered moderately affordable in 2025, with average rent for a 2-bedroom apartment around $1,700 and slightly lower utility costs compared to the national average.
Housing Costs in Fuquay Varina
Housing options in Fuquay Varina range from apartments and townhomes to single-family homes. Rental prices vary by neighborhood, with more affordable options found further from the town center. As of 2025, a typical 2-bedroom apartment in Fuquay Varina rents for $1,500-$1,900 per month, while a 3-bedroom house averages $2,100-$2,600 monthly.
For those looking to purchase a home, prices also span a wide range. A 3-bedroom, 2-bath house in an established neighborhood averages $350,000-$450,000, while newer construction or larger homes can exceed $600,000. Many neighborhoods have active HOAs, with monthly fees typically $200-$400.
Here’s a comparison of average housing costs in Fuquay Varina:
- 2-bedroom apartment: $1,500-$1,900/month
- 3-bedroom house (rental): $2,100-$2,600/month
- 3-bed, 2-bath house (purchase): $350,000-$450,000
- HOA fees: $200-$400/month
Utilities and Energy Bills
Basic utility costs in Fuquay Varina, including electricity, natural gas, water, and trash, are slightly lower than the national average. For a 1,000 square foot apartment, monthly utility costs typically break down as follows:
| Utility | Average Monthly Cost |
|---|---|
| Electricity | $120 |
| Natural Gas | $40 |
| Water/Sewer | $50 |
| Trash | $20 |
| Total | $230 |
Expect cooling costs to spike in the hot summer months. For a larger home, budget $300-$400 per month for combined utilities.
Groceries and Daily Expenses
Grocery prices in Fuquay Varina are on par with the national average. Expect to spend around $300-$400 per person monthly on groceries and household items. A gallon of milk averages $3.50, while a loaf of bread is about $2.50. Dining out costs vary, but a meal at a casual restaurant typically runs $12-$18 per person.
To give an idea, here’s what a typical grocery trip for a couple might look like:
- Milk (1 gal) – $3.50
- Bread (1 loaf) – $2.50
- Eggs (1 dozen) – $2.00
- Chicken breasts (1 lb) – $4.50
- Apples (3 lb) – $4.00
- Total: $16.50
Taxes and Hidden Fees
The property tax rate in Fuquay Varina is 0.4325%, slightly lower than the Wake County average of 0.6%. For a home valued at $400,000, annual property taxes would be approximately $1,730. North Carolina has a flat income tax rate of 4.99%.
Sales tax in Wake County is 7.25%, which includes the 4.75% state rate plus a 2.5% local tax. Some neighborhoods have additional HOA fees, which can add $200-$400 to monthly housing costs.
Monthly Budget Summary
| Expense | Single Person | Couple | Family of 4 |
|---|---|---|---|
| Housing (Rent) | $1,200 | $1,700 | $2,400 |
| Utilities | $180 | $230 | $350 |
| Groceries | $350 | $700 | $1,200 |
| Transportation | $200 | $300 | $500 |
| Misc. | $300 | $500 | $800 |
| Total | $2,230 | $3,430 | $5,250 |
Note that these are estimates of monthly expenses and actual budgets will vary based on lifestyle and circumstances. All figures are gross monthly income (pre-tax).
Lifestyle Considerations
Fuquay Varina offers a small-town feel with convenient access to Raleigh and the Research Triangle. Commute times to major employers average 25-35 minutes. The town has a charming downtown, ample parks and greenways, and a growing dining and shopping scene.
Newer construction homes tend to be larger (2,500+ sq ft) and pricier, while older neighborhoods offer more affordable and compact options. Lot sizes are generally modest, with most under a half-acre. Compared to Cary or Apex, Fuquay Varina offers a bit more space for the money, but with a longer commute.
For those moving to Fuquay Varina, it’s important to weigh housing costs, commute times, and lifestyle priorities. While the town is more affordable than some Raleigh suburbs, it’s still important to budget carefully and factor in HOA fees and utilities.
Frequently Asked Questions
What salary do you need to live comfortably in Fuquay Varina?
To live comfortably, a single person would need to make around $4,000 per month ($48,000/year) before taxes. For a family of four, a gross monthly income of at least $7,000 ($84,000/year) is recommended.
Is Fuquay Varina cheaper than Raleigh?
Yes, the cost of living in Fuquay Varina is about 10% lower than in Raleigh proper. Housing costs, in particular, tend to be more affordable in Fuquay Varina.
What are the top 3 costs that surprise newcomers to Fuquay Varina?
- HOA fees, which can add $200-$400 to monthly housing costs
- Higher summer electric bills due to air conditioning needs
- Commuting costs, as many residents drive 25+ minutes to work in Raleigh or RTP
Are utilities expensive in Fuquay Varina?
Utility costs in Fuquay Varina are slightly lower than the national average. Expect to pay around $180 per month for a 1-bedroom apartment or $350 for a larger home.
What is the property tax rate in Fuquay Varina?
The property tax rate in Fuquay Varina is 0.4325%, which equates to $1,730 annually for a $400,000 home. This is lower than the Wake County average of 0.6%.
Is Fuquay Varina a good place to retire?
Fuquay Varina can be a great retirement spot for those seeking an affordable suburban lifestyle with access to amenities. The low tax rates, ample greenspace, and nearby healthcare are all pluses for retirees.
How much do you need to make to buy a house in Fuquay Varina?
To afford a median-priced home ($400,000) in Fuquay Varina, you’d need to make around $8,000 per month before taxes. This factors in mortgage payments, insurance, taxes, and upkeep.