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In Orange County, the average cost to purchase a new home (including single family, condominium, and townhome units) in 2006 was $381,426, while the median cost of a new home in 2006 was $287,500.
In Orange County, the average resale price of a home in 2006 was $294,784, while the median resale price of a home in 2006 was $240,000.
In 2006 the fair market rent in Orange County for a one-bedroom apartment was $673 a month. The fair market rent for a two-bedroom apartment was $755 a month and for a three-bedroom apartment it was $987 a month.
In Orange County, a person earning minimum-wage would have to work 123 hours per week to afford to rent a two-bedroom apartment at fair market value.
In Chapel Hill, the average cost of living is 106.6 percent, compared to a 100 percent national average.
To find more information you can visit the Orange County Economic Development Commission at www.co.orange.nc.us/ecodev.