As I wrote about last week, my wife and I moved to Raleigh about 3 years ago from just outside of San Diego, in a town called Escondido. When we made we honestly didn’t know all that much about the area.
Which is how come I’m writing this post; so that other people thinking about making the move might know at least a bit more about the place that we did! This post is going to be specific to Raleigh, but I also plan on writing similar posts on other areas around here that somebody relocating might be interested in finding out about.
2013 Population (Raleigh Specific)* 431,476
(Raleigh/Durham/Chapel Hill Metropolitan Statistical Area)* 1,912,729
Population Growth Rate 4.5%
Average Yearly Household Income (2012)* $53,653
Education (Percent of Residents Over 25 Years Old)
High School Diploma or Higher 90.6%
Bachelors Degree or Higher 43.6%
Graduate Degree or Higher 14.9%
Real Estate Statistics:
A search of real estate located in Raleigh, NC revealed the following statistics:
Average Home Price** $381,195
Average Sold Price** $326,991
Median Sales Price** $217,750
Homes Currently Offered For Sale:
(Stick Built, Single Family Dwelling)
Lowest Priced Home Offered on MLS (as of 6/8/2015)*** $60,000
Highest Price Home Offered on the MLS (as of 60/8/2015)*** $7,800,000
Lowest Priced Offered on MLS (as of /8/2015)*** $47,500 Highest Priced Offered on MLS (as of 6/8/2015)*** $1,325,000
So, as you can see from the statistics, the City of Raleigh is a fast growing community that offers a wide variety of different property types and price ranges. Compared to other areas of the country, the cost of living is relatively modest (coming in at a score of 95 with the US average being 100).
If you have any questions about buying a home in Raleigh, please don’t hesitate to reach out to me. My bank, Bank of England, offers a wide range of mortgage products including the North Carolina Housing Finance Agency Down Payment Assistance Program, as well as conventional, FHA, VA, USDA and other niche products.
I also have a number of real estate agents that I know that I would be happy to match you up with in the event that you don’t have an agent already selected.
While I am employed with Bank of England, this blog and the opinions expressed within (except those contained on any BOE websites linked to) are purely my own and not endorsed by Bank of England or any of it's affiliate entities.
Bank of England is an FDIC regulated, HUD/VA/USDA approved, equal opportunity lender chartered in 1898. It is headquartered in England, Arkansas with offices located in 25 states and able to originate mortgages in all 50 states.
Local North Carolina offices are located in Raleigh and Charlotte.
*Statistics courtesy of City-data.com Additional Statistics Available.
**Statistics courtesy of Trulia.com Additional Statistics Available.
*** Statistics courtesy of Realtor.com Additional Statistic Available
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