We moved to Chapel Hill from out of state, and we really love it here. The schools so far have proven to be good for our kids -- I will say they are not as challenging as the schools we've come from elsewhere, but certainly adequate. We haven't been here long enough for me to comment on anything outside of what we have experienced here in Chapel Hill.
We purposely avoided Wake County Schools (Cary/Apex/Morrisville, etc.) due to all the overcrowding, and are very glad that we did. It seems to be a very hot topic, locally.
I like that in Chapel Hill, there are many job opportunities for your teens. With UNC so close, there's lots of shops, smaller malls, coffee places, etc.
Rent here is a bit more expensive, depending on what you are looking for (2BR, 3BR, etc.). We opted to sacrifice a bedroom so that we could have a townhouse, rather than an apartment. So our kids share a room. It's been working out for them, but it probably won't be long-term. You can certainly find apartments within your budget - things really turn over during the summer, with college kids moving in/out, so April/May would be the best time to start looking. There wasn't much available when we arrived in the fall, after school had started.
For safety/crime, check out
Spotcrime
People we have met here also like North Raleigh, but say to stay away from South Raleigh, as it's a bit rough. Parts of Durham are really nice, near Southpoint mall, but other parts are a little sketchy.
We went to OBX last week; and while it is lovely and beautiful off-season for a visit, it is nearly shut down and lights out! We could not ever live there year-round - it was like a ghost town.
Lastly, people here (in person) are indeed very friendly! People on the Internet...well you've seen it.
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