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Chapel Hill probably has the best public transit in the area (in terms of coverage and frequency). If you can manage to live and work near their bus routes you would probably be happy. Durham and Raleigh both have decent bus systems, but you would need to carefully choose where you live and work to avoid long ride times and multiple bus changes.
Living in the burbs or a different city than you work makes using public transit pretty much impossible.
Bottom line, whether your use public transit or not, you need to own a car here to have much quality of life.
While this is not exactly on topic, it is related. I find it interesting that Raleigh's telecommuting percentage is higher than all but 7 metros' transit percentages. This is the most green commuting option available as a trip not taken is the least wasteful of time and resources.
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