Raleigh FHA Loan Rates, Closing Costs & Stats

RALEIGH-CARY, NC

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Raleigh's 195 lenders originated 3,131 FHA loans during 2023. The total origination value was $1,015,715,000, with an average FHA loan value of $324,406.

    Raleigh FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Raleigh averaged -0.51% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Raleigh's average FHA mortgage closing costs are $8,629.

    The average rate for the prior week (2024-11-08) was 6.1% and one month ago for the week of 2024-10-11, the average rate was 5.9%.

    The average rate one year ago was 6.95%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.28%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Raleigh FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Raleigh level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 328 6.18% $13,315
    UNITED WHOLESALE MORTGAGE, LLC 205 6.17% $13,504
    MOVEMENT MORTGAGE, LLC 157 6.50% $13,657
    LOANDEPOT.COM, LLC 139 6.24% $11,887
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 95 6.76% $10,333
    NVR Mortgage Finance, Inc. 90 6.04% $13,075
    CORNERSTONE HOME LENDING, INC. 76 6.67% $13,787
    CROSSCOUNTRY MORTGAGE, LLC 69 6.72% $13,825
    DHI MORTGAGE COMPANY, LTD. 64 5.48% $8,927
    American Security Mortgage Corp. 64 6.31% $12,978
    EAGLE HOME MORTGAGE, LLC 63 6.16% $8,904
    PULTE MORTGAGE LLC 61 5.47% $8,427
    NFM, INC. 52 6.53% $14,708
    PENNYMAC LOAN SERVICES, LLC 51 6.23% $15,458
    BROKER SOLUTIONS, INC. 45 6.67% $13,110
    VANDERBILT MORTGAGE AND FINANCE, INC. 43 5.87% $17,725
    FREEDOM MORTGAGE CORPORATION 43 6.79% $16,387
    PRIMELENDING, A PLAINSCAPITAL COMPANY 38 6.05% $16,777
    PRIMARY RESIDENTIAL MORTGAGE, INC. 36 6.46% $14,560
    NEWREZ LLC 36 6.30% $12,784
    CARDINAL FINANCIAL 35 6.17% $12,911
    North State Bank 34 6.44% $10,794
    ZILLOW HOME LOANS, LLC 34 6.11% $13,132
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 34 6.67% $14,017
    KBHS HOME LOANS, LLC 32 6.00% $14,375
    GoPrime Mortgage, Inc. 30 6.68% $13,149
    Mr. Cooper ( Nationstar Mortgage ) 27 6.19% $17,792
    First Heritage Mortgage, LLC 27 6.35% $13,259
    Truist 26 6.14% $11,582
    Prosperity Home Mortgage, LLC 26 6.51% $12,487
    MATTAMY HOME FUNDING, LLC 26 6.09% $10,392
    Carrington Mortgage Services, LLC 24 6.32% $12,090
    Blue Ridge Bank 23 6.39% $11,434
    Alcova Mortgage LLC 22 6.80% $10,455
    The Federal Savings Bank 22 6.61% $12,904
    CMG MORTGAGE, INC. 21 6.57% $13,338
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 20 6.62% $15,034
    AMERISAVE MORTGAGE CORPORATION 19 6.10% $16,326
    Towne Mortgage of the Carolinas, LLC 19 6.76% $12,737
    GUARANTEED RATE, INC. 19 6.40% $11,805
    RELIANCE FIRST CAPITAL, LLC 18 6.61% $15,951
    INTERCOASTAL MORTGAGE COMPANY 17 6.79% $9,547
    MUTUAL OF OMAHA MORTGAGE, INC. 17 6.40% $15,345
    JET HOMELOANS, LLC 17 5.94% $11,122
    Towne Bank 16 6.23% $12,669
    Equity Prime Mortgage LLC 15 6.25% $15,558
    FIRST HOME MORTGAGE CORPORATION 15 6.62% $13,395
    ACADEMY MORTGAGE CORPORATION 15 6.42% $12,356
    VILLAGE CAPITAL MORTGAGE 14 6.02% $13,605
    VELOCIO MORTGAGE L.L.C. 14 5.98% $13,951
    AMERICAN FINANCIAL NETWORK, INC. 13 6.79% $13,977
    HOMESPIRE MORTGAGE CORPORATION 13 6.50% $9,407
    Integrity Home Mortgage Corp 13 6.47% $11,777
    HOMESIDE FINANCIAL, LLC 13 6.40% $11,634
    United Community Bank 13 6.09% $13,417
    LOANPAL, LLC 12 5.95% $13,830
    Paramount Residential Mortgage Group, Inc. 12 6.49% $10,652
    MORTGAGE SOLUTIONS OF COLORADO, LLC 11 6.90% $16,090
    MICHIGAN MUTUAL, INC. 11 5.47% $14,516
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 10 6.63% $14,558
    T2 FINANCIAL LLC 9 6.82% $14,522
    Flagstar Bank, FSB 9 6.49% $12,542
    TIDEWATER MORTGAGE SERVICES, INC. 9 6.38% $12,043
    Plains Commerce Bank 9 6.24% $11,730
    First-Citizens Bank & Trust Company 9 6.19% $10,462
    Wells Fargo Bank 9 6.56% $10,397
    LAKEVIEW LOAN SERVICING, LLC 9 5.90% $13,418
    Bank of England 8 6.63% $13,435
    EMM LOANS LLC 8 5.97% $15,046
    Corporate Investors Mortgage Group, Inc. 8 6.64% $11,038
    SUN WEST MORTGAGE COMPANY, INC. 7 6.28% $15,546
    TOP FLITE FINANCIAL, INC. 7 6.54% $17,851
    Mortgage Research Center, LLC 7 6.50% $9,957
    HOMEBRIDGE FINANCIAL SERVICES, INC. 7 5.93% $11,175
    SOUTHERN TRUST MORTGAGE, LLC 7 6.30% $13,554
    FBC MORTGAGE, LLC 6 5.78% $8,150
    BAY EQUITY LLC 6 6.48% $13,402
    Northpointe Bank 6 6.52% $10,937
    Nations Lending Corporation 6 6.31% $12,255
    UNION HOME MORTGAGE CORP. 6 6.33% $11,784
    MILEND, INC. 6 6.94% $16,743
    PNC Bank 5 6.95% $9,128
    ENVOY MORTGAGE, LTD 5 6.53% $10,928
    CITY FIRST MORTGAGE SERVICES, L.L.C. 4 6.53% $13,958
    Shamrock Home Loans, Inc. 4 6.31% $13,417
    SWBC MORTGAGE CORPORATION 4 6.00% $12,423
    ALLIED MORTGAGE GROUP, INC. 4 5.81% $10,677
    Keystone Funding, Inc. 4 6.22% $18,805
    TOWNE MORTGAGE COMPANY 4 6.81% $18,394
    Lakeview Community Capital, LLC 4 6.03% $12,729
    AmeriHome Mortgage Company, LLC 4 6.28% $11,416
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.38% $16,766
    PHH Mortgage Corporation 4 6.28% $9,130
    DELMAR FINANCIAL COMPANY 4 6.69% $10,516
    EVERETT FINANCIAL, INC. 4 7.28% $10,113
    AMERICAN FINANCING CORPORATION 4 6.13% $14,988
    ABSOLUTE HOME MORTGAGE CORPORATION 4 7.13% $16,253
    GUILD MORTGAGE COMPANY 4 6.50% $17,677
    EQUITY RESOURCES, INC. 4 6.72% $9,444
    PLANET HOME LENDING, LLC 4 5.78% $9,259
    CALCON MUTUAL MORTGAGE LLC 4 6.69% $11,783
    DAS Acquisition Company, LLC 3 6.88% $17,594
    Ameris Bank 3 6.08% $11,047
    Century Mortgage Company DBA Century Lending Company 3 6.21% $13,218
    Encompass Lending Group, LP 3 6.54% $15,067
    LIBERTY HOME MORTGAGE CORPORATION 3 6.58% $15,156
    PANORAMA MORTGAGE GROUP, LLC 3 6.92% $11,539
    POLARIS HOME FUNDING CORP. 3 6.92% $11,721
    RUOFF MORTGAGE COMPANY, INC. 3 5.83% $7,323
    SeaTrust Mortgage Company 3 7.13% $9,827
    South Pacific Financial Corporation 3 6.13% $11,355
    Victorian Finance, LLC 3 6.67% $9,605
    FIRST ALLIANCE HOME MORTGAGE, LLC 2 6.69% $17,009
    Paramount Bank 2 6.69% $8,421
    ACOPIA, LLC 2 6.68% $14,628
    M&T Bank 2 6.13% $13,101
    BAYSHORE MORTGAGE FUNDING, LLC 2 6.94% $11,227
    Barrington Bank & Trust Company, N.A. 2 6.75% $10,920
    OCMBC, INC. 2 7.88% $15,019
    PENTAGON FEDERAL CREDIT UNION 2 6.31% $9,331
    FIRST EQUITY MORTGAGE INCORPORATED 2 6.44% $10,714
    FIRST CONTINENTAL MORTGAGE, LTD. 2 6.12% $8,572
    NBKC BANK 2 6.06% $9,571
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 7.13% $14,060
    ANGEL OAK HOME LOANS LLC 2 7.19% $13,234
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 7.19% $12,078
    PLAZA HOME MORTGAGE, INC. 2 6.88% $14,021
    RAPID MORTGAGE COMPANY 2 7.00% $19,397
    Regions Bank 2 6.19% $8,682
    Strong Home Mortgage, LLC 2 6.19% $12,035
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.56% $11,683
    Colonial Savings, F.A. 2 6.69% $16,090
    MID AMERICA MORTGAGE, INC. 2 6.44% $7,461
    CAPITAL CENTER, L.L.C. 2 6.81% $5,670
    M/I FINANCIAL, LLC 2 6.69% $12,746
    Residential Mortgage Solutions, Inc. 2 6.19% $11,775
    The Central Trust Bank 2 6.56% $11,884
    CONTOUR MORTGAGE CORPORATION 1 6.50% $18,637
    RESOURCE FINANCIAL SERVICES, INC. 1 6.13% $13,200
    ROYAL UNITED MORTGAGE LLC 1 7.25% $5,291
    AMCAP MORTGAGE, LTD. 1 7.13% $16,993
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.63% $13,540
    SFMC, LP 1 6.99% $16,929
    Citizens Bank 1 5.50% $14,855
    SHELTER HOME MORTGAGE, LLC 1 6.63% $17,105
    SIRVA MORTGAGE, INC. 1 7.50% $7,598
    CHURCHILL MORTGAGE CORPORATION 1 7.25% $15,273
    Allen Tate Mortgage Partners, LLC 1 6.75% $8,593
    SOVEREIGN LENDING GROUP INCORPORATED 1 5.50% $13,700
    Capital City Home Loans, LLC 1 6.75% $14,788
    CALIBER HOME LOANS, INC. 1 6.25% $12,051
    Bell Bank 1 6.63% $12,343
    The Fidelity Bank 1 6.75% $13,306
    The Freedom Bank of Virginia 1 5.63% $10,379
    THE MORTGAGE FIRM, INC. 1 6.75% $11,802
    TOTAL MORTGAGE SERVICES, LLC 1 6.88% $19,325
    Bank of America 1 7.00% $6,976
    Atlantic Union Bank 1 6.13% $14,411
    Atlantic Coast Mortgage, LLC 1 5.75% $14,245
    Arvest Bank 1 6.00% $14,398
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 7.50% $14,432
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.75% $10,333
    U.S. Bank 1 6.75% $10,665
    Uwharrie Bank 1 5.75% $12,226
    AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 6.25% $9,652
    VAN DYK MORTGAGE CORPORATION 1 7.63% $15,101
    Meridian Bank Corporation 1 6.75% $11,694
    MIDLAND MORTGAGE CORPORATION 1 6.63% $18,468
    MEMBER FIRST MORTGAGE, LLC 1 7.13% $11,173
    Leader Bank 1 6.75% $8,408
    LOANFLIGHT LENDING, LLC 1 6.99% $12,000
    LAND HOME FINANCIAL SERVICES, INC. 1 7.50% $15,926
    Kwik Mortgage Corporation 1 5.75% $14,021
    JPMorgan Chase Bank 1 7.63% $8,197
    NATION ONE MORTGAGE CORPORATION 1 6.75% $22,738
    NATIONS DIRECT MORTGAGE, LLC 1 6.99% $16,094
    Ixonia Bank 1 7.50% $19,881
    NETWORK CAPITAL FUNDING CORPORATION 1 6.75% $4,980
    INTERCAP LENDING INC. 1 6.50% $11,911
    HOMESTAR FINANCIAL CORPORATION 1 7.50% $10,279
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $17,515
    GUARANTEED RATE AFFINITY, LLC 1 7.73% $7,573
    NORWICH COMMERCIAL GROUP, INC. 1 6.25% $9,807
    GENEVA FINANCIAL, LLC 1 7.13% $11,438
    Vellum Mortgage, Inc. 1 7.50% $9,177
    Gateway First Bank 1 6.75% $15,623
    First Horizon Bank 1 6.25% $11,172
    First Bank 1 6.25% $13,967
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $10,544
    PREMIA MORTGAGE, LLC 1 6.25% $8,305
    PREMIER LENDING, INC. 1 6.50% $13,563
    Fifth Third Bank 1 6.13% $7,208
    Evolve Bank & Trust 1 5.75% $21,743
    EMBRACE HOME LOANS, INC. 1 7.75% $9,079
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.13% $9,916

    The top Raleigh FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 328 FHA loans originated. Their average total fees are $13,315, which is $190 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Raleigh FHA lenders (with over 10 loans originated) are PULTE MORTGAGE LLC ($8,427), EAGLE HOME MORTGAGE, LLC ($8,904), DHI MORTGAGE COMPANY, LTD. ($8,927), HOMESPIRE MORTGAGE CORPORATION ($9,407) and INTERCOASTAL MORTGAGE COMPANY ($9,547).

    The lowest rate Raleigh FHA lenders (with over 10 loans originated) are MICHIGAN MUTUAL, INC. (5.47%), PULTE MORTGAGE LLC (5.47%), DHI MORTGAGE COMPANY, LTD. (5.48%), VANDERBILT MORTGAGE AND FINANCE, INC. (5.87%) and JET HOMELOANS, LLC (5.94%).

    Raleigh FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    RALEIGH-CARY, NC FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
    RALEIGH-CARY, NC JOHNSTON 2022 $420,680 $538,650 $651,050 $809,150
    RALEIGH-CARY, NC WAKE 2022 $420,680 $538,650 $651,050 $809,150
    RALEIGH-CARY, NC FRANKLIN 2023 $502,550 $643,350 $777,650 $966,450
    RALEIGH-CARY, NC JOHNSTON 2023 $502,550 $643,350 $777,650 $966,450
    RALEIGH-CARY, NC WAKE 2023 $502,550 $643,350 $777,650 $966,450

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Raleigh (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $350,080 (2.5%) $423,693 (3.1%) 1.30 3,973
    2018-02-01 $358,693 (3.2%) $427,864 (3.1%) 1.30 4,010
    2018-03-01 $368,837 (2.5%) $439,760 (2.6%) 1.29 4,228
    2018-04-01 $369,951 (0.0%) $441,023 (0.0%) 1.25 4,498
    2018-05-01 $369,950 (0.0%) $442,374 (-0.1%) 1.24 4,821
    2018-06-01 $369,700 (1.0%) $445,449 (1.8%) 1.23 4,913
    2018-07-01 $369,450 (0.6%) $448,748 (2.9%) 1.23 4,814
    2018-08-01 $369,664 (1.6%) $447,787 (3.4%) 1.24 4,907
    2018-09-01 $365,900 (0.3%) $442,771 (2.4%) 1.23 5,031
    2018-10-01 $357,985 (-0.6%) $432,120 (0.8%) 1.21 5,275
    2018-11-01 $355,281 (-1.3%) $430,386 (0.7%) 1.20 5,155
    2018-12-01 $353,899 (-0.6%) $426,868 (-0.1%) 1.22 4,904
    2019-01-01 $349,995 (0.0%) $423,873 (0.0%) 1.21 4,626
    2019-02-01 $354,745 (-1.1%) $430,435 (0.6%) 1.20 4,580
    2019-03-01 $363,771 (-1.4%) $439,870 (0.0%) 1.19 4,596
    2019-04-01 $369,500 (-0.1%) $449,308 (1.9%) 1.17 4,723
    2019-05-01 $375,000 (1.4%) $455,927 (3.1%) 1.17 4,830
    2019-06-01 $376,000 (1.7%) $453,492 (1.8%) 1.18 4,931
    2019-07-01 $375,000 (1.5%) $452,187 (0.8%) 1.17 5,004
    2019-08-01 $371,807 (0.6%) $448,155 (0.1%) 1.18 5,084
    2019-09-01 $367,528 (0.4%) $444,569 (0.4%) 1.18 5,147
    2019-10-01 $364,100 (1.7%) $441,993 (2.3%) 1.17 5,188
    2019-11-01 $359,418 (1.2%) $440,540 (2.4%) 1.18 4,990
    2019-12-01 $359,950 (1.7%) $442,899 (3.8%) 1.20 4,532
    2020-01-01 $358,714 (2.5%) $442,855 (4.5%) 1.20 4,218
    2020-02-01 $364,645 (2.8%) $450,735 (4.7%) 1.19 4,108
    2020-03-01 $372,685 (2.5%) $461,154 (4.8%) 1.17 4,030
    2020-04-01 $363,849 (-1.5%) $451,689 (0.5%) 1.14 4,289
    2020-05-01 $369,990 (-1.3%) $465,377 (2.1%) 1.12 4,192
    2020-06-01 $381,450 (1.5%) $486,068 (7.2%) 1.12 3,573
    2020-07-01 $381,439 (1.7%) $487,119 (7.7%) 1.11 3,317
    2020-08-01 $385,000 (3.6%) $487,345 (8.7%) 1.10 3,201
    2020-09-01 $390,708 (6.3%) $495,072 (11.4%) 1.12 2,895
    2020-10-01 $389,900 (7.1%) $496,028 (12.2%) 1.12 2,854
    2020-11-01 $385,000 (7.1%) $492,706 (11.8%) 1.13 2,568
    2020-12-01 $387,376 (7.6%) $497,675 (12.4%) 1.15 2,199
    2021-01-01 $389,900 (8.7%) $508,063 (14.7%) 1.16 1,853
    2021-02-01 $395,775 (8.5%) $525,866 (16.7%) 1.15 1,478
    2021-03-01 $397,450 (6.7%) $528,581 (14.6%) 1.13 1,281
    2021-04-01 $399,510 (9.8%) $541,473 (19.9%) 1.08 1,203
    2021-05-01 $403,297 (9.0%) $550,589 (18.3%) 1.07 1,030
    2021-06-01 $408,898 (7.2%) $559,651 (15.1%) 1.08 1,046
    2021-07-01 $409,900 (7.5%) $545,206 (11.9%) 1.08 1,207
    2021-08-01 $424,630 (10.3%) $563,887 (15.7%) 1.13 1,249
    2021-09-01 $425,000 (8.8%) $554,489 (12.0%) 1.13 1,408
    2021-10-01 $425,000 (9.0%) $551,039 (11.1%) 1.13 1,461
    2021-11-01 $426,870 (10.9%) $553,907 (12.4%) 1.14 1,340
    2021-12-01 $423,320 (9.3%) $551,595 (10.8%) 1.15 1,097
    2022-01-01 $426,000 (9.3%) $567,969 (11.8%) 1.15 900
    2022-02-01 $433,862 (9.6%) $589,111 (12.0%) 1.13 660
    2022-03-01 $450,725 (13.4%) $619,727 (17.2%) 1.13 694
    2022-04-01 $476,565 (19.3%) $620,214 (14.5%) 1.14 850
    2022-05-01 $494,500 (22.6%) $608,331 (10.5%) 1.13 1,437
    2022-06-01 $499,950 (22.3%) $626,853 (12.0%) 1.11 2,103
    2022-07-01 $495,000 (20.8%) $614,383 (12.7%) 1.12 2,767
    2022-08-01 $486,247 (14.5%) $605,260 (7.3%) 1.12 3,187
    2022-09-01 $464,000 (9.2%) $580,273 (4.7%) 1.08 3,765
    2022-10-01 $455,000 (7.1%) $576,049 (4.5%) 1.07 3,935
    2022-11-01 $449,725 (5.4%) $570,347 (3.0%) 1.08 3,886
    2022-12-01 $448,900 (6.0%) $569,095 (3.2%) 1.11 3,595
    2023-01-01 $445,950 (4.7%) $573,153 (0.9%) 1.10 3,200
    2023-02-01 $449,787 (3.7%) $583,580 (-0.9%) 1.09 2,831
    2023-03-01 $450,000 (-0.2%) $597,307 (-3.6%) 1.06 2,598
    2023-04-01 $465,000 (-2.4%) $630,194 (1.6%) 1.08 2,427
    2023-05-01 $474,490 (-4.1%) $640,399 (5.3%) 1.08 2,496
    2023-06-01 $478,886 (-4.2%) $642,353 (2.5%) 1.08 2,526
    2023-07-01 $469,900 (-5.1%) $634,143 (3.2%) 1.07 2,565
    2023-08-01 $464,950 (-4.4%) $628,919 (3.9%) 1.07 2,667
    2023-09-01 $459,750 (-0.9%) $624,453 (7.6%) 1.07 2,842
    2023-10-01 $457,515 (0.6%) $621,273 (7.9%) 1.08 3,107
    2023-11-01 $451,735 (0.5%) $615,991 (8.0%) 1.08 3,202
    2023-12-01 $446,455 (-0.5%) $614,957 (8.1%) 1.09 2,951
    2024-01-01 $439,945 (-1.4%) $622,802 (8.7%) 1.07 2,651
    2024-02-01 $439,998 (-2.2%) $633,754 (8.6%) 1.06 2,648
    2024-03-01 $449,990 (0.0%) $643,395 (7.7%) 1.06 2,756
    2024-04-01 $451,258 (-3.0%) $640,046 (1.6%) 1.05 2,925
    2024-05-01 $462,135 (-2.6%) $651,317 (1.7%) 1.04 3,195
    2024-06-01 $469,900 (-1.9%) $647,456 (0.8%) 1.06 3,546
    2024-07-01 $462,535 (-1.6%) $634,936 (0.1%) 1.06 3,862
    2024-08-01 $454,900 (-2.2%) $624,608 (-0.7%) 1.06 3,967
    2024-09-01 $453,165 (-1.4%) $625,548 (0.2%) 1.07 4,218
    2024-10-01 $450,000 (-1.6%) $622,387 (0.2%) 1.06 4,345
    Raleigh's median listing price for 2024-10-01 was $450,000, a difference of $-7,515 (-1.6%) versus the prior year and $-3,165 versus the prior month.

    Raleigh's median listing price comes in at 106% of the national average.

    Raleigh's average listing price for 2024-10-01 was $622,387, a difference of $1,114 (0.2%) versus the prior year and $-3,161 versus the prior month.

    For the 2024-10-01 period, Raleigh had 4,345 MLS listings, a difference of 127 listings (3%) versus the prior month and 1,238 listings (40%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Raleigh (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 82 days 2,659 sqft
    2018-02-01 69 days 2,652 sqft
    2018-03-01 53 days 2,700 sqft
    2018-04-01 51 days 2,669 sqft
    2018-05-01 50 days 2,676 sqft
    2018-06-01 53 days 2,666 sqft
    2018-07-01 60 days 2,653 sqft
    2018-08-01 62 days 2,655 sqft
    2018-09-01 65 days 2,623 sqft
    2018-10-01 68 days 2,588 sqft
    2018-11-01 71 days 2,578 sqft
    2018-12-01 78 days 2,564 sqft
    2019-01-01 83 days 2,557 sqft
    2019-02-01 74 days 2,561 sqft
    2019-03-01 61 days 2,594 sqft
    2019-04-01 50 days 2,625 sqft
    2019-05-01 50 days 2,651 sqft
    2019-06-01 50 days 2,629 sqft
    2019-07-01 56 days 2,604 sqft
    2019-08-01 57 days 2,578 sqft
    2019-09-01 58 days 2,555 sqft
    2019-10-01 59 days 2,541 sqft
    2019-11-01 61 days 2,500 sqft
    2019-12-01 69 days 2,505 sqft
    2020-01-01 72 days 2,483 sqft
    2020-02-01 59 days 2,519 sqft
    2020-03-01 47 days 2,548 sqft
    2020-04-01 50 days 2,495 sqft
    2020-05-01 58 days 2,508 sqft
    2020-06-01 58 days 2,539 sqft
    2020-07-01 48 days 2,485 sqft
    2020-08-01 40 days 2,464 sqft
    2020-09-01 45 days 2,456 sqft
    2020-10-01 44 days 2,426 sqft
    2020-11-01 44 days 2,386 sqft
    2020-12-01 49 days 2,376 sqft
    2021-01-01 45 days 2,355 sqft
    2021-02-01 33 days 2,309 sqft
    2021-03-01 25 days 2,259 sqft
    2021-04-01 20 days 2,299 sqft
    2021-05-01 17 days 2,275 sqft
    2021-06-01 16 days 2,261 sqft
    2021-07-01 18 days 2,253 sqft
    2021-08-01 20 days 2,256 sqft
    2021-09-01 19 days 2,245 sqft
    2021-10-01 20 days 2,228 sqft
    2021-11-01 22 days 2,219 sqft
    2021-12-01 34 days 2,198 sqft
    2022-01-01 33 days 2,139 sqft
    2022-02-01 16 days 2,146 sqft
    2022-03-01 11 days 2,186 sqft
    2022-04-01 10 days 2,250 sqft
    2022-05-01 12 days 2,319 sqft
    2022-06-01 16 days 2,356 sqft
    2022-07-01 23 days 2,337 sqft
    2022-08-01 30 days 2,334 sqft
    2022-09-01 42 days 2,287 sqft
    2022-10-01 47 days 2,269 sqft
    2022-11-01 56 days 2,267 sqft
    2022-12-01 68 days 2,284 sqft
    2023-01-01 74 days 2,285 sqft
    2023-02-01 66 days 2,288 sqft
    2023-03-01 52 days 2,305 sqft
    2023-04-01 48 days 2,327 sqft
    2023-05-01 43 days 2,337 sqft
    2023-06-01 43 days 2,347 sqft
    2023-07-01 42 days 2,312 sqft
    2023-08-01 40 days 2,299 sqft
    2023-09-01 43 days 2,275 sqft
    2023-10-01 44 days 2,254 sqft
    2023-11-01 49 days 2,231 sqft
    2023-12-01 63 days 2,205 sqft
    2024-01-01 63 days 2,164 sqft
    2024-02-01 44 days 2,171 sqft
    2024-03-01 42 days 2,186 sqft
    2024-04-01 38 days 2,167 sqft
    2024-05-01 32 days 2,175 sqft
    2024-06-01 36 days 2,219 sqft
    2024-07-01 43 days 2,203 sqft
    2024-08-01 47 days 2,170 sqft
    2024-09-01 51 days 2,152 sqft
    2024-10-01 51 days 2,155 sqft
    Raleigh's median listing age (time on market) for 2024-10-01 was 51 days. This is 17% longer than the same period one year ago.

    Raleigh's median square footage for active listings during the 2024-10-01 period was 2,155 sqft. One year prior, the average listing was 2,254 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).