Published in: Banks | Jan. 28, 2020

7 Reasons Why Both You and Your Wallet Will Love Raleigh, N.C.

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Save money while enjoying outstanding food, entertainment, and education in The Research Triangle.

Whether you're coming from a major city and hoping to slow down a bit or looking to move from a small town to a more happening locale, Raleigh, N.C. is ready to meet you in the middle. 

Raleigh pairs an easy lifestyle and low cost of living with endless activities and abundant opportunities, making it one of the country's fastest-growing cities. Here's why moving to Raleigh could improve your life and help you save more money.

The Raleigh, North Carolina, skyline seen across a park at dusk.

Image source: Getty Images

1. It's one of the few affordable cities

The cost of living in urban areas in the U.S. is exploding. In Raleigh, though, housing prices and cost of living are still lower than what you'd find in other similarly sized cities, let alone major metropolitan areas.

In fact, Raleigh was recently named one of the top 10 best cities for high salaries and low cost of living in a study done by The Ascent, making it an excellent place to save money.

2. Salaries are above the national average

Speaking of high salaries, despite a reasonable cost of living, wages in Raleigh are still impressive. The mean annual salary in Raleigh is $52,580, placing it just above the national average.

Whether you're trying to pay off loans quickly or reach savings goals, living in a place like Raleigh with higher-than-average salaries and a lower cost of living is the best way to boost your finances.

3. It's a foodie & craft beer mecca

Raleigh isn't your grandma's kitchen, but it may come close. You'll find no shortage of grade-A home cooking and Carolina barbecue joints in this city. Southern Living magazine even called it one of the "tastiest towns in the south."

Thanks to its diverse population, though, you'll find a lot more than just Southern classics. From eco-chic Laotian fare to a maker-inspired brewery and dim sum joint to a family-style Lebanese restaurant, many of the best restaurants in Raleigh feature eclectic and global menus. As of 2015, Raleigh even beat out Munich for the biggest beer garden in the world -- it features 366 brews on tap.

4. Raleighites are diverse and well-educated

Raleigh is part of "The Research Triangle," an area that's home to three top-tier universities within just a few miles of each other: Duke University, North Carolina State University, and University of North Carolina Chapel Hill. As such, it's no surprise that the population of Raleigh is both diverse and well educated.

On an average day, 43 new people move to the greater Raleigh area, and of those 43 people, roughly 11 come from another country. What's more, 67% of them have a bachelor's degree or higher. And over half of the city's population, including those born in Raleigh, is college-educated, according to Wake County Economic Development.

5. It boasts the biggest music scene in the state

If you're into live music, you'll find it hard to become bored in Raleigh. Home to the biggest music scene in North Carolina, you could see a concert in a different space every night for almost three months in Raleigh without repeating a place, thanks to its 85 different live music venues.

6. You can enjoy a slower, family-friendly lifestyle

Folks looking to escape the hustle and bustle of metropolitan centers like New York and Los Angeles will find a safe haven in Raleigh, especially if they want to raise a family. Not only is Raleigh an affordable place to buy a home, it also presents an easier way of life in general.

From an average commute of about 23 minutes to ample parks and recreation spaces, safe and quiet communities, and excellent public schools, Raleigh is ideal for new families. Plus, your children will have a wealth of activities, museums, and world-class universities at their fingertips.

7. From forests to beaches to mountains, the outdoors are great in Raleigh

Known as the "city of oaks," Raleigh is surrounded by lush, dense forest on all sides and home to hundreds of beautiful parks and hiking and biking trails. It's also a city where you'll get to witness all four seasons, but in moderation, so you can enjoy the outdoors year-round.

When you're feeling like traveling outside of Raleigh, you can get to the Carolina coast in under three hours, or the stunning Blue Ridge Mountains in about four, making Raleigh an excellent central point for weekend trips.

There are lots of reasons to love Raleigh, but to really understand its charm, you'll have to go see it for yourself.

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