Mortgage Loans in Raleigh, NC

History of Raleigh, NC

In the first decade of the 21st century, Raleigh was featured prominently in a number of “Top 10 Lists”, including those by Forbes, MSNBC, and Money magazine, due to its quality of life and favorable business climate.

In 2001, the Raleigh Memorial Auditorium complex was expanded with the addition of the Progress Energy Center for the Performing Arts, Meymandi Concert Hall, Fletcher Opera Theater, Kennedy Theatre, Betty Ray McCain Gallery, and Lichtin Plaza.

Fayetteville Street reopened to vehicular traffic in 2006. A variety of downtown building projects began around this time including the 34-story RBC Bank Tower, multiple condominium projects, and several new restaurants. Additional skyscrapers are in the proposal/planning phase.

In 2006, the city’s NHL franchise, the Carolina Hurricanes, won the Stanley Cup, North Carolina’s first and only professional sports championship.

With the opening of parts of I-540 from 2005 to 2007, a new 70-mile (110 km) loop around Wake County, traffic congestion eased somewhat in the North Raleigh area. Completion of the entire loop is expected to take another 15 years.

In 2008, the city’s Fayetteville Street Historic District joined the National Register of Historic Places.

In September 2010, Raleigh hosted the inaugural Hopscotch Music Festival.

In January 2011, Raleigh hosted the National Hockey League All-Star Game.

In April 2011, a devastating EF-3 tornado hit Raleigh, and many other tornadoes touched down in the state (ultimately the largest, but not the strongest outbreak to ever hit the state), killing 24 people. The tornado tracked northeast through parts of Downtown, East Central Raleigh, and Northeast Raleigh and produced $115 million in damages in Wake County. There were 4 fatalities in the city.

In September 2015 Holy Trinity Anglican Church was opened; the first church to be built in downtown Raleigh since 1958.

On July 26, 2017, the Catholic Diocese of Raleigh dedicated its new cathedral, Holy Name of Jesus Cathedral, the fifth-largest in the United States.

Source: https://en.wikipedia.org/wiki/Raleigh,_North_Carolina

Demographics of Raleigh, NC

As of the 2020 United States Census, there were 467,665 people, 188,412 households, and 104,848 families residing in the city. In the American Community Survey of 2019, the city of Raleigh’s population was estimated at 474,708; an earlier estimate determined the population at 474,069. At the 2000 United States Census, there were 276,093 persons (July 2008 estimate was 380,173) and 61,371 families residing in Raleigh. The population density was 2,409.2 people per square mile (930.2/km²). There were 120,699 housing units at an average density of 1,053.2 per square mile (406.7/km²). There were 112,608 households in the city in 2000, of which 26.5% included children below the age of 18, 39.5% were composed of married couples living together, and 11.4% reported a female householder with no husband present, and 45.5% classified themselves as nonfamily. Unmarried partners were present in 2.2% of households. In addition, 33.1% of all households were composed of individuals living alone, of which 6.2% were someone 65 years of age or older. The average household size in Raleigh was 2.30 persons, and the average family size was 2.97 persons.

Raleigh’s population in 2000 was evenly distributed with 20.9% below the age of 18, 15.9% aged 18 to 24, 36.6% from 25 to 44, and 18.4% from 45 to 64. An estimated 8.3% of the population was 65 years of age or older, and the median age was 31 years. For every 100 females, there were 98.0 males; for every 100 females aged 18 or older, there were 96.6 males aged 18 or older.

The racial makeup of Raleigh in 2019 was 52.5% non-Hispanic white, 28.3% Black or African American, 0.4% American Indian or Alaska Native, 4.0% Asian American, 0.1% from some other race, 2.1% two or more races, 12.5% Hispanic or Latin American of any race. According to the 2010 United States Census, the racial composition of the city was: 57.5% White (53.3% non-Hispanic white), 29.3% Black or African American, 4.3% Asian American (1.2% Indian, 0.8% Chinese, 0.7% Vietnamese, 0.5% Korean, 0.4% Filipino, 0.1% Japanese), 2.6% two or more races, 1.4% some other race, 0.5% Native American, and <0.1% Native Hawaiian or other Pacific Islander^[87] In addition, 11.4% of city residents were Hispanic or Latino Americans, of any race (5.9% Mexican, 1.1% Puerto Rican, 0.9% Salvadoran, 0.6% Dominican, 0.6% Honduran, 0.3% Colombian, 0.3% Cuban, 0.2% Guatemalan, 0.2% Spanish, 0.2% Peruvian, 0.1% Venezuelan, 0.1% Ecuadorian, 0.1% Argentine, and 0.1% Panamanian). In 2000, the racial composition of the city was: 63.31% White, 27.80% Black or African American, 7.01% Hispanic or Latino American, 3.38% Asian American, 0.36% Native American, 0.04% Native Hawaiian or other Pacific Islander, 3.24% some other race, and 1.88% two or more races.

The median household income in the city was $46,612 in 2000, and the median family income was $60,003. Males earned a median income of $39,248, versus $30,656 for females. The median per capita income for the city was $25,113, and an estimated 11.5% of the population and 7.1% of families were living below the poverty line. Of the total population, 18.8% of those below the age of 18, and 9.3% of those 65 and older, were living below the poverty line. In 2019, an estimated 10.9% of the local population were at or below the poverty line. The median household income from 2014 to 2018 was $63,891 and the per capita income was $36,875. There were 180,046 households with an average of 2.43 persons per household. The median value of an owner-occupied housing unit was $236,700 in 2018 and the monthly cost with a mortgage was $1,480. The cost without a mortgage was $526. Raleigh had a median gross rent of $1,074.

Source: https://en.wikipedia.org/wiki/Raleigh,_North_Carolina