We concentrate our business in the State of North Carolina, meaning we don’t just focus on Raleigh – we originate all over the place! Because of that, we are very familiar which North Carolina Suburbs are most attractive for Home Buyers. Some of them might surprise you!
First time home buyers ranked Cary, NC one of the top best Suburbs, according to Wallet Hub. It is likely because of the qualify of life – I mean they have SNOW DAYS where the Parks and Rec Department brings in Snow Machines for sledding – because we don’t always get consistent snow in North Carolina!
Cary ranked in the top 10, and was considered very affordable in the survey – except Real Estate is a “little” high for first time home buyers right now. Considering this blog is about real estate and mortgages… we thought we should highlight some other Small Cities and Suburbs in North Carolina that might be a little more affordable!
Morrisville
This is “almost” a bedroom community to Cary! Morrisville is booming: the town saw the largest population growth of the places we focused on, with a 2016 population of 24,732 – up from 18,748 in 2010. In Morrisville, 48.8% of homes are owned rather than rented and 27.8% of household income goes to homeowner costs. The median home value is $323,724.
It is a part of the Research Triangle metro region, which encompasses the Raleigh, Durham, and Cary areas. Schools are excellent and Morrisville ranks among the top places in the state for its family friendliness. Morrisville has a progressive and multi-cultured population and the city itself is in very close proximity to the RTP.
Morrisville has top rated Escape Rooms, and a 30,000 sq. ft. Table Tennis facility! The Morrisville Park has many cultural and family oriented events including Music, Easter Egg Hunts and S’Morrisville – in celebration of National S’mores Day!
This suburb of Raleigh has one of the larger populations of the towns on NerdWallet’s list with 47,349 residents in 2015, according to the U.S. Census Bureau. The home ownership rate here is 75.2% and 23% of the median monthly household income goes to homeowner costs.
FHA Loans Raleigh, Cary, Apex NC are not just designed for First Time Home Buyers – but they are only reserved for Owner Occupied Properties. The program is one of the most flexible mortgage loans available, offering reduced down payment requirements and reduced waiting periods for those who have had a major credit issue in the recent past.
There are maximum loan amount limits for each of the surrounding counties, many of them differ from the limit for Wake County. These maximum loan limits are based annually on the median sales price in each county of NC.
2018 FHA Loan Amount Limits for Raleigh, Cary, Apex 27513 / Wake County, NC
- One Family Dwelling: $300,150
Apex also has the second-highest median household income on our top 10 list at $58,889 a year. Like many of these towns, Apex has historic roots. Its restored downtown area is featured on the National Register of Historic Places. The town is also known for its annual Peak Fest, and a great Jazz Festival that is growing in size each year.
Huntersville
Located only 12 miles from Charlotte, Huntersville boasts an estimated population of 54,839 from 2016 data, and numerous public and private schools. The home ownership rate here is above 51% and homeowners here spend 27.3% of their monthly income on home costs. The median home value is $247,200 in Huntersville, a town known for hosting the annual Carolina Renaissance Festival every autumn.
The traffic between Charlotte and Huntersville is finally getting better, as they seem to be near the end of the decades long highway project between the two cities. The LAKE is a huge draw for many homeowners, as Lake Norman comes right to the Town’s Boarders. The NASCAR racing shop for Joe Gibbs Racing is headquartered in Huntersville, and the city is home to several current and former NASCAR drivers.
Cornelius
Located alongside Lake Norman, near Charlotte, Cornelius saw an 9% population increase between 2014 and 2016, and the latest data shows the town with a population of 28,515. The home ownership rate in Cornelius is 73% and 25.9% of the median monthly household income is devoted to homeowner costs, according to data crunched by NerdWallet.
The median home value is $256,700 in Cornelius. Though it didn’t incorporate until 1905, Cornelius was booming in the industry of cotton in the late 1800s. The town, is now home to 10 public parks and a championship golf course… and of course it has many restaurants, bars and marinas on Lake Norman.
Mint Hill
A suburb of Charlotte, Mint Hill saw a 7.3% population jump between 2014 and 2016. Although it is within commuting distance of Charlotte, part of the town is building out towards Cabarrus county, because the real estate taxes are lower.
The town has an 81% home ownership rate, the median monthly income is $5,806, and 27.5% of that income is devoted to homeowner costs. The 2016 population was reported as 26,236. Mint Hill is home to Mint Hill Veterans Memorial Park and Wilgrove Park, as well as a nationally recognized youth football program. Each Memorial Day weekend they hold a Festival to celebrate the founding of the town with music, food, and rides for children.
Pine Knoll Shores
Considered a great place to retire, Pine Knoll Shore has a high number of Home Owners (as opposed to Renters) and of the 352 Rated School Systems in NC, the schools in Pine Knoll Shore’s rate 60.
Cedar Point, Indian Beach and Atlantic Beach are all very close by. Although homes on ANY beach in NC are fairly expensive, there are homes here available for under $245,000 with quick access to the Sound, and just a bike ride away from the Ocean.
The NC Aquarium at Pine Knoll Shores has a Sea Turtle Nursery, and many residents of the Island love to help with the annual Sea Turtle Nesting Program along Bogue Banks. This community is about an hour South and East of New Bern. USDA Home Loans are available in this area, meaning you could buy a home here with no down payment needed!
Have questions about which North Carolina Suburbs are most attractive for Home Buyers, leave us a comment below, I try and answer these very quickly! Better yet, call Steve and Eleanor Thorne 919 649 5058 – we’d love to give you a quote for today’s best mortgage rates! Steve and Eleanor Thorne 919 649 5058 Connect with us on Facebook!
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