Andrews-Moore House · Photo: James McGlothlin · CC BY-SA 4.0Measured against area pay, Lake Royale costs less to live in than 75% of U.S. towns
It ranks #37 of 290 in North Carolina for affordability.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Raleigh-Cary, NC metro area ($100K). How TownRatings grades cost of living
The grade compares costs with what households across the Raleigh metro earn ($100K, Census 2020–24). The typical home costs 2.8 years of metro income, and 12% of renters pay 30% or more of income for housing.
In dollars
- $1,350a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 98prices across the Raleigh metro, where the U.S. is 100 (housing 103)BEA Regional Price Parities, 2024
In paychecks the grade
- 2.8 yrsof area income buys the typical home; the typical U.S. town: 3.3$100K, Raleigh-area income
- 17%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 25%of owners do; the typical U.S. town: 20%Census 2020–24
What Lake Royale’s housing numbers say
About 15 months of homes for sale
At the pace homes sold in May, it would take about 14.6 months to sell everything listed (North Carolina: 3.9). The typical home took 14 days to sell and sold at 99% of asking. How fast homes sell ↓
A second-home town
25% of Lake Royale’s homes are seasonal or vacation homes, empty for much of the year. Year-round rentals are scarce: there are 67 renter households. Property taxes ↓
Nearly every household owns
95% of Lake Royale households own their home, against 67% across North Carolina. There are only 67 renter households, so rentals are scarce. Property taxes ↓
Written from the data on this page. There’s no Zillow index for Lake Royale, so the typical value is an estimate: the Census median carried forward with the federal house price index; sales and supply are Redfin’s for May 2026; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Lake Royale’s grade
Measured against what households in the area earn, Lake Royale is more affordable than 75% of U.S. towns, #37 of 290 in North Carolina. The share of households paying 30%+ for housing pulls the grade down most; property tax holds it up.
Home prices up 62% in 5 years
The federal house price index for the ZIP codes around Lake Royale rose 62% over the past 5 years, about the same as across North Carolina. Last year prices rose 1.3%. Carrying the Census median home value forward with that index puts the typical Lake Royale home at roughly $339,000 today.
Carrying the Census median forward with the index puts a typical home at about $339K.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Lake Royale, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
Too few sales to read the market
Only 5 homes sold in May 2026, the latest month in Redfin’s figures: too few to describe the market or quote a median sale price.
A typical home costs 2.8 years of area income
The calculator starts from the area income the grade uses. Switch to Lake Royale’s own median, or type yours.
That covers a typical Lake Royale home, with $69K to spare.
A two-bedroom rents for about $1,350 a month here, $590 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Lake Royale’s typical property tax (0.57% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,350
Renters already here pay a median of $1,390.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Raleigh-Cary, NC MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Property tax runs below the North Carolina norm
The median bill is $1,604 (North Carolina: $1,896), 0.57% of a home’s value a year, against 0.66% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Lake Royale
Only figures published free for the whole country, each labeled with the area it covers: the Raleigh-Cary, NC metro area, or North Carolina. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 98 | NC 94 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 97 | NC 97 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 89 | NC 89 | metro | BEA, 2024 |
| Other services U.S. = 100 | 98 | NC 98 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Lake Royale and its neighbors
One source per column.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, latest | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Lake Royale | A− | — | $280K | 0.57% | $1,350 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures.
Questions about the cost of living in Lake Royale
Is Lake Royale expensive to live in?
Measured against what households in the area earn, Lake Royale costs less than 75% of U.S. towns: an A− for cost of living, #37 of 290 in North Carolina. The typical home costs 2.8 years of the median household income of the Raleigh-Cary, NC metro area ($100K).
How much is rent in Lake Royale?
HUD puts a two-bedroom at about $1,350 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,390 (Census 2020–24).
What are property taxes in Lake Royale?
The median bill is $1,604 a year, 0.57% of the median home value (North Carolina: $1,896, 0.66%), from the Census 2020–24.
Neighbors talk housing
What Lake Royale buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.