FHA makes up 18.2% of Raleigh originations, with Wells Fargo and BB&T/Truist leading FHA volume — comparing their MIP structures on $268,000 surfaces $1,134+ in first-year MIP cost differences. Always request side-by-side MIP schedules from both Wells Fargo and BB&T/Truist before choosing.
Raleigh, North Carolina: 2026 Market Data
📊 LOCAL MARKET DATA
- Median home price: $378,000
- Year-over-year price change: 8.4%
- FHA loan share: 18.2%
- Conventional loan share: 72.2%
- Property tax rate (Wake County): 0.88%
- Top local lenders: Wells Fargo, BB&T/Truist, State Employees CU
Data from U.S. Census Bureau, HMDA, county assessor
FHA Loans in Raleigh: 2026 Market Snapshot
If you're considering an FHA loan in Raleigh, it helps to understand where the local market stands. The median home price here sits at $378,000, reflecting a year-over-year jump of 8.4%. That kind of appreciation can affect how much house your budget stretches to, so it's worth getting clear on your numbers before you start shopping. FHA loans currently make up 18.2% of the Raleigh market, while conventional loans dominate at 72.2%. That mix tells you FHA financing is a meaningful path for many buyers here, even if it isn't the most common route. FHA programs are often a fit for borrowers who want a lower down payment or who are building their credit profile, though it pays to weigh the tradeoffs against a conventional loan. One cost to factor into your monthly math is property tax. In Wake County, the rate is 0.88%, which applies regardless of which loan type you choose. As you compare your options, gather quotes from several lenders, read the fine print on fees and mortgage insurance, and ask plenty of questions. A little upfront homework goes a long way in a market moving as fast as Raleigh's.
Raleigh Property Taxes at 0.88%: How That Hits Monthly PITI
Wake County's effective property tax rate of roughly 0.88% lands in the friendlier half of national averages, but it still shapes your monthly payment more than many first-time buyers expect. On a typical Raleigh purchase, that rate gets folded into your PITI, the principal, interest, taxes, and insurance bundle your lender escrows each month. For an FHA loan, taxes and insurance are collected upfront and held, so even a modest annual tax bill spreads into a noticeable monthly line item. Take a home assessed near $350,000: that 0.88% works out to roughly $3,080 a year, or about $257 added to your monthly payment before you even factor in homeowners insurance and FHA mortgage insurance premiums. Raleigh reassessments can also nudge values upward, which means your escrow may adjust after a revaluation year. It pays to ask your lender for a full PITI breakdown rather than focusing only on the rate, so the number you qualify for matches what you'll actually pay.
