Raleigh/Durham and The Triangle!

[Katie Rother]

Raleigh-Cary, NC, is a rapidly growing area with significant expansion in the healthcare, pharmaceutical, and technology sectors. Known for its strong foundation in STEM jobs, the market continues to experience positive economic growth, projected to drive further property appreciation. The presence of major employers and tech companies, coupled with ongoing job creation, positions the Raleigh-Durham area as one of the top locations for job seekers and investors.

According to BiggerPockets, Raleigh-Durham is a fantastic place to invest, especially for those interested in the growing STEM fields. The increasing number of STEM-related jobs keeps housing demand high, making it an ideal location for investors seeking strong appreciation and rental demand. The market's steady growth ensures that homebuyers and rental property investors can capitalize on the area's potential.

Key Economic Indicators:

Average Wage in 2024: $59,586

Five-Year Compound Wage Growth: 3.73%

Total Employment in 2024: 748,600

Five-Year Compound Employment Growth: 3.14%

Unemployment Rate in 2024: 3.8%

GDP Per Capita (2022): $70,178

Affordability Indicators:

Median Home Price in 2024: $447,526

Five-Year Compound Price Growth: 9.35%

Median Rent in 2024: $1,797

Five-Year Compound Rent Growth: 5.91%

Rent-Price Ratio: 0.4%

With steady wage and employment growth and an unemployment rate below the national average, the Raleigh-Durham area is a prime market for real estate investment. Additionally, the area's median home prices and rental rates continue to rise, offering investors excellent opportunities for long-term returns. For those looking to invest in a growing and economically stable market, Raleigh-Durham presents a perfect combination of affordability, appreciation potential, and a high demand for housing.