Raleigh is a major city located in in central North Carolina. With a population of around 450,000 people it is one of the most populated cities in North Carolina and also the state capital. Raleigh is frequently considered one of the best places in America to live due to its strong employment opportunities, great weather, and affordable housing prices. Due to these factors, Raleigh is one of the fastest growing communities in the United States which has helped to ensure that the housing market in the city has stayed strong.
Mortgage Loans Available in Raleigh
For those that are looking to move to Raleigh, buying a home will normally require taking out a mortgage. Fortunately, Raleigh has a lot of different mortgage options to choose from. The city has a lot of major banks that have a strong presence in the city including SunTrust Bank, Chase Bank, Bank of America, and PNC Bank. Due to the strong economy and housing market in the city, banks are willing to offer mortgages to qualified borrowers with rates that are below the national averages.
Median Income and Housing Prices in Raleigh
The city of Raleigh is one of the more wealthy communities in North Carolina. The city has a median household income of over $56,000 per year, which is a bit above the national average but compares favorably to the state average. Due to the higher incomes in Raleigh, housing values in the city also seem to be a bit higher than the state average. In 2015 the median sales price of a new home in Raleigh was $225,000. This compares to the state average of just $160,000. While housing prices are higher in Raleigh, they are still very affordable for the typical resident.
Residents of Raleigh will send their children to public schools served by the Wake County Public School System. This public school system is the largest in North Carolina as it has a total enrollment of over 100,000 students. The Wake County Public School System also services many of the suburban communities located around the city. Overall, the school system has over 130 different schools and a relatively high student to teacher ratio of 23 to 1.
Raleigh also has a lot of higher education options. The largest public college in North Carolina, North Carolina State University, is located in Raleigh. This college has a total enrollment in excess of 30,000 students. There are also over a dozen different community colleges, trade schools, and private colleges for people to choose from.
Compared to other large cities across the state and country, Raleigh has a very low crime rate. The city’s overall crime rating is among the lowest for larger cities, except for crimes related to burglaries and theft that tend to be higher than the state and national averages. The rate of violent crimes in Raleigh are very low compared to other cities across the state.