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Let’s see how the cost of living in Raleigh compares to national data: Raleigh National Average Annual income $40,520 per person* $35,384 per person* Rent $1,175* $1,096* Mortgage payment $1,532 * $1,621* Natural gas (Therm) $1.23 $1.57 Income tax rate 4.99 13.3 Propertytax for Wake County and North Carolina combined is 0.88.
Information from the National Mortgage Database shows 83% of all mortgage holders enjoy an interest rate below 5% when today’s average rate is about 6.5%. It’s a dynamic not often seen in our area and it – along with stubbornly high mortgage interest rates – has generated a rollercoaster ride of data that would make Six Flags jealous.
Some are even considering forgoing insurance altogether, risking their financial security once mandated by mortgage lenders. Starting mid-2027, insurers operating in Washington will be mandated to furnish written notices to policyholders facing premium hikes of 10% or more, elucidating the primary factors driving the change.
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