Homes for Rent in Raleigh, NC: What You Need to Know
Raleigh is the capital of North Carolina. This city in the northeast-central part of the state is where old meets new, redefining Southern charm.
Job Opportunities in Raleigh
Raleigh is part of an area known as the Triangle, which also includes Durham and Chapel Hill. The three cities are home to the state’s major universities, which drive the area’s economic growth and attract companies to the Triangle Research Park in Durham. Raleigh’s biggest employers include Duke University and Duke Health Systems, WakeMed Health and Hospitals, IBM, and Cisco Systems.
A Rich Local History
Original settlers in the area belonged to the Native American tribes of Iroquois, Sioux, and Algonquin. Raleigh was established in 1792 as North Carolina’s capital. It was named after Sir Walter Raleigh, the English explorer. The initial tract of land constituting Raleigh cost $2,756. The city is home to the nation’s first coed college for African Americans. In December 1865, Shaw University (formerly known as Raleigh Institute) started offering theological classes to freed African Americans.
The Cost of Living in Raleigh
If you’re moving to Raleigh, you’ll be pleased to know that it’s not too small or too big (population: 474,069). Its cost of living and housing costs are 7% and 18.6% lower than the national average. On the downside, food cost is 14.8% higher than the national average. Raleigh’s median gross rent is $1,074 while the median rent for a two-bedroom apartment is $1,328.
North Carolina levies a flat rate of 5.25% in state income tax. Its base sales tax rate is 4.75%. Counties charge sales tax rates ranging from 2% to 2.75%.
Know Your Neighborhoods
Downtown Raleigh’s development over the years has added new residences to boost the growth of its residential community. Housing options include townhouses, condos, and apartments with city skyline views and single-family homes. South Park and Mordecai are close by and affordable. The suburbs of Morrisville and Cary have easy access to downtown Raleigh plus they have great schools. Both communities have a significant percentage of renters.
Local Weather Trends
Raleigh doesn’t typically get a lot of snow, only 4 inches on the average per year versus the national average of 28 inches. However, in January 2000, a big winter storm hit the city and dumped about 20 inches of snow in one day. On average, Raleigh gets 46 inches of rain annually compared with the U.S. average of 38 inches. The city enjoys an average of 213 sunny days per year, more than the U.S. average of 205 sunny days.