Quick facts: Broadway, NC

Quick Facts

100.6
Cost of Living
above US average
1,318
Population
14.42
Crime Rate per 1000
below US average
$63,333
Median Income
below US average
$337,900
Median House Price
above US average
$1500.0
Average Rent
above US average
9%
Poverty Rate
below US average
5.0%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $63,333.

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Income Needed to Buy

βœ— Stretch
$106k/year
Based on $337,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $106k vs median $63,333
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Income Needed to Rent

⚠ Stretch
$64k/year
Based on $1500.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $64k vs median $63,333
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Broadway, NC

Broadway, North Carolina is a small town located primarily in Lee County, with a small portion in Harnett County. With a population of around 1,500 residents, it offers a tight-knit community atmosphere. Known for its friendly residents and rural charm, Broadway is characterized by its picturesque landscapes and slower pace of life. The town has a rich history, with roots dating back to the 1800s when it was a thriving hub for the railroad. While it doesn’t boast large urban attractions, Broadway features local shops, eateries, and parks that reflect its Southern charm. The nearby Cape Fear River offers recreational opportunities, including fishing and walking trails. Broadway is conveniently located near larger cities like Sanford and Fayetteville, providing residents easy access to more extensive shopping, dining, and entertainment options. Additionally, the proximity to the natural beauty of North Carolina's parks makes it a great spot for those who enjoy outdoor activities. Overall, Broadway is an ideal place for families and individuals seeking a peaceful rural lifestyle while being close to urban amenities.

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