Raleigh, North Carolina: Some Important Facts and Figures
Posted by RealEstate_Guru
When you’re shopping for real estate for sale in Raleigh, NC, it’s important to get a feel for the region, its character and its residents. Here are a few illuminating and insightful facts and figures about this vibrant and growing region.
For those looking for a suburban lifestyle with big-city amenities, Raleigh NC real estate for sale can be a good choice. The population of about 350,000 is large enough to support a good base of upscale neighborhoods, stores, restaurants and entertainment venues but small enough avoid the indifference and anonymity of larger urban centers. In other words, Raleigh is a great place to enjoy both a latte and a homespun conversation.
Raleigh’s population has grown an amazing 24% in the period 2000 through 2005. With a stable economy, good schools (both public and private), and affordable housing prices, Raleigh is an attractive destination for both younger professional and older retirees. The median home cost in Raleigh is a reasonable $203,000, a fact which compensates for the fact that Raleigh’s cost of living is about 6% higher than the U.S. national average. Raleigh expends about $5,000 per year per student in public education. While this about $1000 below the national average, it’s mitigated by a positive student-teacher ratio of 16 to 1. The unemployment rate in the region is about 1% below the U.S. average while job growth has declined by about 3%.
Despite all this, Raleigh has an active real estate market where the median home age is about 21 years. Over 50% of the homes in the region are owner-occupied, while about 45% are rental properties. The property tax rate is about $8 per $1000 of assessed value, significantly lower than the national average of about $13.00.
For people looking for a steady economy with a wide tax base and good housing values and choices, Raleigh is worth a second look.
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