The Housing Market in Knightdale Today
Knightdale, a growing suburb of Raleigh, has seen its housing market evolve in recent years due to its proximity to the Research Triangle and influx of new residents. The town’s population has surged by over 50% since 2010, driven by its affordability compared to Raleigh proper and access to major employers like WakeMed, Duke Energy, and Cisco Systems.
This rapid growth has put upward pressure on both rents and home prices in Knightdale, although they remain lower than in Raleigh or Durham. The town’s housing stock is a mix of older homes, new construction single-family houses, and a growing number of apartment complexes to accommodate the rising population.
One factor that surprises many newcomers to Knightdale is the impact of property taxes and HOA fees on housing costs. Wake County’s property tax rate, which includes Knightdale, is slightly higher than the national average. And with many of the town’s newer homes being built in communities with HOAs, these added monthly costs can catch residents off guard if they’re not prepared.
Renting in Knightdale: Typical Costs and Trends
As of 2025, the average rent for a 1-bedroom apartment in Knightdale is around $1,100 per month, while a 2-bedroom typically goes for about $1,400. These prices are up roughly 20% from five years ago, reflecting the area’s strong population and job growth.
Knightdale’s rental market is driven largely by young professionals and families who work in the Raleigh area but are priced out of the city center. Many are drawn to the relative affordability of Knightdale, as well as its highly rated schools and small-town feel.
Rent prices can vary significantly within Knightdale based on a property’s age, amenities, and location. Newer apartment complexes like Greystone at Widewaters and The Station at Knightdale tend to command higher rents, often topping $1,500 for a 2-bedroom. Older properties and those further from major thoroughfares like US-64 are generally less expensive.
Owning a Home in Knightdale: Prices, Taxes, and HOA Fees
The median home price in Knightdale as of 2025 is around $350,000, up from about $280,000 in 2020. This appreciation has been fueled by strong demand from buyers seeking more space and affordability than they can find in Raleigh.
However, homeownership costs in Knightdale go beyond just the mortgage payment. Wake County’s property tax rate is 0.72%, which translates to annual taxes of $2,520 on a $350,000 home. This is in addition to North Carolina’s statewide property tax rate of 0.86%.
Many of Knightdale’s newer housing developments, such as Knightdale Station and Widewaters, also have Homeowners Associations (HOAs) that charge monthly fees. These HOAs maintain common areas, amenities like pools and playgrounds, and often cover services like trash removal and exterior maintenance. Typical HOA fees in Knightdale range from $100 to $300 per month.
Apartment vs House in Knightdale: Side-by-Side Costs
| Monthly Expense | Apartment (2BR) | House (3BR) |
|---|---|---|
| Rent/Mortgage Payment | $1,400 | $1,950 |
| Property Tax | N/A (included in rent) | $292 |
| Utilities | $150 | $250 |
| Insurance | $15 (renters) | $80 (homeowners) |
| HOA Fees | N/A | $150 |
| Maintenance & Repairs | N/A | $200 |
| Monthly Total | $1,565 | $2,922 |
Utility & Upkeep Differences
In addition to the base rent or mortgage cost, utility expenses can differ significantly between apartments and houses in Knightdale. Houses typically have higher utility bills due to their larger size and the need to maintain outdoor spaces. Knightdale’s humid subtropical climate means higher electricity costs in the summer for air conditioning.
Homeowners also need to budget for ongoing maintenance and repairs, such as HVAC tune-ups, roof and gutter cleaning, and appliance repairs. These costs can add hundreds of dollars per month to the overall expense of owning a home.
5-Year Rent vs Buy Outlook
Looking at the costs over a longer horizon, buying a home in Knightdale becomes more financially advantageous than renting after about 5 years. This assumes a 10% down payment, 3.5% mortgage interest rate, and home value appreciation of 3% per year, which is in line with historical trends for the Raleigh area.
After 5 years, the total cost of renting a 2-bedroom apartment in Knightdale would be approximately $101,000, assuming 3% annual rent increases. Owning a $350,000 home would cost around $142,000 over the same period, but the homeowner would have built about $55,000 in equity.
FAQs About Housing Costs in Knightdale
- What is the property tax rate in Knightdale? The combined Wake County and North Carolina property tax rate for Knightdale homeowners is 1.58% as of 2025.
- How much are HOA fees in Knightdale? HOA fees in Knightdale typically range from $100 to $300 per month, depending on the community and amenities.
- Do houses have higher utility costs than apartments? Yes, houses in Knightdale generally have higher utility expenses than apartments due to their larger size and outdoor maintenance needs.
- Is renting cheaper than buying long-term in Knightdale? No, buying a home in Knightdale becomes more cost-effective than renting after about 5 years, assuming typical mortgage terms and historical home appreciation rates.
Making Smart Housing Choices in Knightdale
When deciding whether to rent or buy a home in Knightdale, it’s important to consider your long-term plans and budget. Renting may be the better choice if you value flexibility and want to avoid the added costs and responsibilities of homeownership. But if you plan to stay in the area for several years and want to build equity, buying a home can be a smart financial move.
Be sure to factor in all the costs of each option, including property taxes, HOA fees, utilities, and maintenance expenses. And consider how your housing choice fits into your overall financial picture, including your monthly budget and cost of living in Knightdale.
If you do decide to buy a home in Knightdale, be prepared for a competitive market. Many homes receive multiple offers and sell quickly, so it’s important to have your financing in order and be ready to act fast when you find a property you like. Working with a local real estate agent who knows the Knightdale market can give you an advantage.
Finally, if you’re planning a move to Knightdale, don’t forget to budget for the cost of relocating. Comparing moving company costs and planning ahead can help make your transition smoother and less stressful.