Quick facts: Raleigh, NC

Quick Facts

102.5
Cost of Living
above US average
476,587
Population
28.0
Crime Rate per 1000
above US average
$78,631
Median Income
below US average
$351,000
Median House Price
above US average
$1607.62
Average Rent
above US average
10%
Poverty Rate
below US average
3.8%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $78,631.

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Income Needed to Buy

βœ— Stretch
$110k/year
Based on $351,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $110k vs median $78,631
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Income Needed to Rent

βœ“ Affordable
$69k/year
Based on $1607.62/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($78,631) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Raleigh, NC

Raleigh, the capital of North Carolina, is known for its vibrant blend of history, culture, and innovation. Located in the heart of the Research Triangle, Raleigh boasts a robust economy driven by technology, education, and healthcare sectors. Its population is diverse, with a mix of students, professionals, and families. The city is home to several prestigious universities, including North Carolina State University, contributing to its youthful energy and academic atmosphere. Raleigh is celebrated for its well-preserved historic areas, such as the State Capitol building and the North Carolina Museum of Natural Sciences, which attract both residents and tourists. Outdoor enthusiasts can explore numerous parks and green spaces like Pullen Park and William B. Umstead State Park, offering trails, lakes, and recreational activities. Raleigh's bustling food scene showcases an array of culinary options, from classic Southern cuisine to innovative farm-to-table experiences. The city's dynamic cultural scene includes a variety of theaters, music venues, and festivals, while the thriving craft beer industry adds to its appeal. Overall, Raleigh strikes a balance between southern charm and modern urban life, making it an attractive destination for visitors and new residents alike.

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