Rocky Mount is a fairly medium sized municipality positioned just a bit east of Raleigh, supporting a population of around 54,000 and employing about 22.9k people (~ -6.65% growth year over year- oof).

Rocky Mount's annual population growth rate is sitting around -0.58% which is not a highlight, -1.7% growth since the 2020 Consensus has been recorded. Persons over 65 account for 18.8% of the population. Median age of 41, 21.3 min average commute to work, and a bit over 4,000 veterans locally. Rocky Mount is the 21st largest city in NC, and the 824th largest in the US.

Rocky Mount has been the recent target of a few infrastructure improvements and outside investments. They are working on a new roundabout "Specifically, this project calls for a roundabout to be constructed to replace what is a busy intersection for Benvenue with the exit from eastbound U.S. 64 and with the entrance for eastbound U.S. 64 … The intersection also includes Battle Park Lane, which provides access to the adjacent Battle Park."

The city has also received an $800,000 grant to utilize in the revitalization of Downtown Rocky Mount. It's intent it to encourage private sector investors, improve entertainment, eateries, and foot/bike travel. It's part of a larger $1.26M plan they want to enact, and are currently trying to source the rest of the funding.

Rocky Mount was also selected by Golden Leaf for a large investment. "The Golden LEAF Board of Directors awarded $445,582 in funding to support projects through the Open Grants Program and $1,382,782.18 to support rural broadband to community anchor institutions through MCNC. The Golden LEAF Board approved $127,534 in funding for the NC Rural Center to administer the Rural Internship Initiative as part of the Golden LEAF Scholarship Program. The Golden LEAF Board also awarded $1,365,000 in funding for projects through the Flood Mitigation Program." https://www.neusenews.com/inde... This comes out to a total of a $3.3M investment from Golden Leaf.

The $1,365,000 in funding for flood mitigation will be spent revamping the sewers and water systems.

It should also be noted that since 2006, Golden Lead has donated around $1,000,000 to Nash Community College.

Rocky Mount's largest school is North Carolina Wesleyan College with around 1,700 enrolled students. Not a large bustling college town by any means.

Let's talk crime, then numbers. Rocky Mount sits at a 8 out 100 on the crime index (with 100 being the safest), violent crime is twice as high as the state average, property crime is on par with state averages. Crime seems to be rather localized, as the crime rate is significantly higher in density in certain locations.

The median home value is around $114,000, median sale price is a moving target, somewhere near $200,000. Average DOM around 61 with average homes getting 5% under list and pending in 26 days, and hot homes are getting an average of at list and pending in 10 days. Some homes are getting multiple offers, not as much traction as other places, but I'd consider it "somewhat" Competitive for the deals that are going.

About a 50% owner occupied ratio. SFH 66% MFH 27%. Poverty rate is around 18.9%, there is a real need for affordable housing in this market. Lots of renters out here, market rent for a 3 bed is ~$1,300-$1,700/mo depending on location. Conflicting data suggests is may be able to get more towards city-center with a nice house, upwards of ~$2,000. ~$600-$800 for a 1 bed, a nice place with great location may get more towards $900.

Rocky Mount has a cost of living ranked as 39/50th most expensive in NC, which means as far as NC is concerned it is extremely agreeable in pricing. People in Rocky Mount get to enjoy some of the cheaper side of NC. Being a skip down the road to Raleigh is a major plus.

To conclude, Rocky Mount is no shining star, but as with almost every where, there is still opportunity to be found. A savvy investor may find value in affordable housing rentals, or flipping in some of the select neighborhoods where it is profitable to do so. A negative population growth for years, is not exactly exciting to see, however it is clear that they are trying to revamp and update parts of their city/systems that are outdated. Hopefully money continues to keep coming in to Rocky Mount from outside investors. Investors may also like to check out local areas nearby to Rocky Mount- Nashville, Tarboro, Wilson. Rocky Mount needs to see some employment opportunities to come their way, Edgecombe County still remains the highest unemployment in the state. "Edgecombe County had the highest unemployment rate at 7.3 percent ... Among the metro areas, Rocky Mount had the highest rate at 5.9 percent." https://www.commerce.nc.gov/ne...

As always looking for questions, comments, concerns, and any feedback. It's impossible to know everything about a market, so any value add information is expressly desired, and I appreciate it! I'm looking to connect with more people on here, so please reach out!

For more reading and sources:

https://rockymountnc.gov/

https://www.rockymounttelegram...

https://www.neusenews.com/inde...

https://www.redfin.com/city/14...

https://www.realtor.com/reales...

https://www.census.gov/quickfa...

https://censusreporter.org/pro...

https://worldpopulationreview....

https://datausa.io/profile/geo...

https://datausa.io/profile/uni...

https://www.neighborhoodscout....