Comments (Meaning / History Only)
It originated as a SURNAME (Walter Raleigh) and then became a PLACE NAME (Raleigh, NC). To say it is a "historical masculine name" is flat out wrong - it is a historical surname, which was found on BOTH genders. I don't know why all the names that originate out as surnames default to being "masculine names." I can understand some surnames, like Elliot, which have been so widely used as a boy first name that they do eventually evolve as "boy names," but Raleigh usage on both boys and girls has remained relatively obscure. It is a surname with a gender neutral meaning, so the origin is appropriate for usage on either a boy OR a girl. It is actually now used on more girls than boys now (check the SSA statistics).
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It may be derived from the capital of the US state of North Carolina which was named after English politician and explorer Sir Walter Raleigh. [noted -ed]