Raleigh Housing Market — 2026 Reality Check
The median home price in Raleigh is $412,000. At today's rates (6.9%), an 80% conventional loan on that home costs $2,171/month in principal and interest alone — before taxes, insurance, and HOA.
To qualify under standard bank underwriting (28% front-end DTI), you need a gross income of at least $87,000/year. The median household income in Raleigh is approximately $74,000/year — putting the price-to-income ratio at 5.6×.
Median Home Price$412,000
20% Down Payment$82,400
3.5% FHA Down Payment$14,420
Est. Monthly Payment (80% LTV)$2,171/mo
Salary Needed (28% DTI)$87K+/year
Price-to-Income Ratio5.6× median income
FRC Buyer Demand ScoreWARM
Current Mortgage Rate Est.6.9%
Frequently Asked Questions
What salary do I need to buy a home in Raleigh?
Based on the median Raleigh home price of $412,000 and standard 28% front-end DTI ratio, you need a gross income of at least $87,000/year to qualify for a conventional mortgage. With existing debt obligations (car payments, student loans), you may need more.
Is Raleigh a buyer's or seller's market in 2026?
Based on FRC Buyer Demand data from active listings, Raleigh is currently showing WARM demand. This is a transitioning market — some negotiating room exists but well-priced homes still move quickly.
What is the down payment for a home in Raleigh?
For the median Raleigh home ($412,000): 20% conventional down payment = $82,400. FHA minimum 3.5% down = $14,420. FHA requires a credit score of 580+. Conventional loans typically require 620+.