The state of North Carolina is among the original states that share the distinction of being one of the 13 original colonies of the U.S. Today, North Carolina is one of the most populated states in the country and one with direct access to the Atlantic Ocean. The state geography involves a bit of extremes, ranging from the tallest point on the eastern seaboard to coastal, water-level beaches. The state can range from heavily forested zones to open plains and fields. Major developed areas include Asheville, Boone, Cape Hatteras, Charlotte, Fayetteville, Greensboro and Raleigh. The economy of the state varies by location. The capital sees significant industry associated with energy, science and technology. Both government and business share in the labor pool as well, which has a high level of education thanks to the number of universities and colleges in the state. Some of the more famous schools include Duke, the University of North Carolina at Chapel Hill, North Carolina State University and Wake Forest.

The Tar Heel State is only about average in size — its area ranks 28th — but as of 2025 it is home to roughly 11.2 million people, making it the 9th most populous state. With its highly educated population and business-friendly tax environment, the state has attracted a high number of science, technology, energy, and math jobs, often referred to as STEM, and the economy produces more than $800 billion annually (2024).

Places to Live

As of 2025, the typical North Carolina home is valued at around $330,000, according to Zillow — a figure that has climbed substantially over the past decade before leveling off in recent years. Home values vary widely across the state: mountain resort communities such as Cashiers and Lake Toxaway remain among the most expensive, while many smaller inland cities and towns remain considerably more affordable than the statewide typical value. North Carolina has more than a dozen cities with populations above 100,000.

Charlotte

Population: roughly 940,000 (2024)

Charlotte is North Carolina's largest city and one of the largest in the United States. Counting the entire metro area, Charlotte is home to nearly 3 million people, about a quarter of the state's population. The Queen City is a major U.S. banking center and is home to the headquarters of Bank of America. It was also home to Wachovia, one of the nation's largest banks before its acquisition by Wells Fargo during the 2008 financial crisis. A number of Fortune 500 companies call Charlotte home.

Raleigh

Population: about 500,000 (2024)

Raleigh, the capital of North Carolina, is a planned city that is home to one of the state's major research universities, NC State. A large amount of biotech and technology research is conducted at the university and across the surrounding Research Triangle. Other major employers include WakeMed and Red Hat.

Greensboro

Population: roughly 300,000 (2024)

Greensboro and its surrounding metro area anchor the Piedmont Triad region. Once heavily reliant on tobacco and textiles, the local economy has diversified over the years into aviation, logistics, manufacturing and services, with major employers spanning the healthcare, education and public sectors.

Durham

Population: roughly 300,000 (2024)

Durham, the home of Duke University, is another one of North Carolina's major research cities (a third is the University of North Carolina in Chapel Hill). The university and its health system are by far the largest employers in the city, though companies with a presence in nearby Research Triangle Park — including IBM and GSK (GlaxoSmithKline) — also draw on the area's educated workforce.

Banking Options

North Carolina is one of America's leading banking hubs. It is home to the headquarters of Bank of America and Truist (formed by the 2019 merger of Winston-Salem-based BB&T and SunTrust, and now headquartered in Charlotte), as well as First Citizens Bank, headquartered in Raleigh. The big national and regional banks can be attractive options for locals — broad ATM coverage, well-developed online banking, and branches throughout the country for those who travel frequently.

Of course, NC also has no shortage of smaller, community-focused banks and credit unions. Though coverage may be more limited and the technology might not match what you'd expect from the largest banks, these institutions tend to know their communities very well and place a high value on maintaining good relationships with customers. Many also have a reputation for originating home loans that larger banks or mortgage lenders may not offer, in order to better serve the community.

Community banks operating in NC include:

  1. First Bank
  2. First Citizens Bank
  3. Uwharrie Bank (Bank of Stanly)
  4. Southern Bank
  5. HomeTrust Bank

Credit unions:

  1. State Employees' Credit Union (SECU)
  2. Coastal Credit Union
  3. Truliant FCU
  4. Local Government FCU
  5. Allegacy FCU
  6. Marine FCU
  7. Self-Help Credit Union

Large banks with a presence in NC:

  1. Bank of America
  2. Truist
  3. First Citizens Bank
  4. Fifth Third Bank
  5. PNC Bank
  6. Regions Bank
  7. TD Bank
  8. Wells Fargo

When you're shopping for a savings account or looking for an auto loan, it's important to get quotes from more than one financial institution. At the very least, you'll know that you're picking an option that's right in line with the rest of the market, and there's a chance that you'll do far better by finding a bank you weren't even considering at the start. Use RateZip.com to get started!

Buy a Home in NC

For those looking to relocate to a university- and history-rich state, North Carolina will definitely fit the bill, and RateZip.com can help with detailed mortgage rate information. In addition to the banks headquartered locally, Charlotte and the surrounding region are home to a concentration of mortgage lenders and loan-servicing companies, reflecting the state's role as a financial-services center.

First-time buyers in the state should also look into the North Carolina Housing Finance Agency, whose NC Home Advantage Mortgage program offers 30-year fixed-rate loans paired with optional down payment assistance, along with additional help for eligible first-time buyers and military veterans. Eligibility limits and assistance amounts are updated periodically, so check the agency's current guidelines when you apply.

As in the rest of the country, the most popular loan option in NC is the fixed-rate mortgage, or FRM. As the name implies, the interest rate — and thus the principal-and-interest portion of the monthly payment — remains constant over the life of the loan. At the other end of the spectrum, you have adjustable-rate mortgages, or ARMs. These loans carry an initial rate that is fixed for an introductory period, typically anywhere from 3 to 10 years, after which the rate and monthly payment adjust periodically according to the market. Home buyers who plan on moving within a short period sometimes prefer an ARM, though whether an ARM or a fixed rate makes sense depends on the rate environment at the time you borrow.

Finally, you have FHA and VA mortgages. FHA loans, insured by the Federal Housing Administration, offer lower down payments and more flexible credit standards. VA mortgages are for veterans and eligible members of the armed forces, and these loans do not require a down payment, though a borrower may still need to pay closing costs. Because rates change constantly, compare current mortgage rates on RateZip.com before you choose a loan.