People around here say they love living in Raleigh because it’s a growing city that hasn’t lost the friendly, small-town feel. It’s still easy to run into someone you know when you stop in at the corner market or your favorite local dive.
At the same time, Raleigh’s growing fast. It’s the capital of North Carolina and the second largest city in the state. Based on the most recent census data, the population is estimated to be 469,502 and continues to grow. Known for a strong economy, extensive job opportunities, excellent schools, and a high quality of life, Raleigh’s attractiveness isn’t going away any time soon.
In fact, Money magazine listed the city as number four in its list of 50 Best Places to Live in 2022… up from 36 in 2021.
“Raleigh is a bit of a contradiction. It’s a mid-sized southern city with agrarian roots that also contains a bustling technology hub. As a result, the city — a part of North Carolina’s prestigious Research Triangle — defies expectations. That’s precisely what landed it on our list of Best Places to Live (yet again). Known as the City of Oaks, Raleigh boasts lush green space, with more than 9,000 acres of parkland, paired with more amenities than you’d expect from a city of less than 500,000.”
– Money magazine
There are a lot of great reasons to make Raleigh, NC, your home. Let’s look at a few of them.
Healthy Job Market
The US News & World Report shows Raleigh and Durham combining for an average annual salary of just under $60,000. That’s slightly higher than the average in the US. The Report gives the area a 6.7 out of 10 on the job market index, rating it healthier than many other metro areas of similar size.
With Google and Apple having a presence in the Triangle, as well as major technology players such as IBM and Cisco, the tech industry continues to be strong and growing in and around Raleigh. Residents will also find plenty of opportunities in healthcare and life sciences, thanks to the presence of Duke University in nearby Durham and other research institutions throughout the Triangle — Raleigh, Durham, and Chapel Hill.
While the cost of living in Raleigh is on the rise, the city’s thriving job market gives visitors plenty of reason to choose to stay and make Raleigh their new home.
Competitive Housing Market
The numbers change fast in the real estate world these days, and Raleigh’s housing market is no different. We recently wrote about how big tech companies moving into the Triangle have increased competition and pushed prices up, creating a red hot market.
But in just a few short months, the tide has turned. According to The Herald-Sun, Raleigh’s market is now cooling at a pretty quick pace — and that means it’s shifting from a seller’s market to a buyer’s.
With more inventory available, Raleigh home buyers have more homes to choose from, and those homes are staying on the market longer. Competition isn’t as heated, and prices are decreasing. In September, 2022, the median sale price was $435,000 — slightly up from the previous year but down from July, 2022, when it reached an all-time high of $470,000.
Buyers looking to purchase their next home in Raleigh have a nice window of opportunity for the hunt. And if you’re wondering about the best places to look, Unimovers rated the top five neighborhoods in Raleigh. Based on safety, price, personality, and proximity to essentials, these are their top choices:
- Boylan Heights
- Cameron Park
- Five Points
- Walnut Creek
Weather That Covers All Four Seasons
Besides solid job opportunities, great neighborhoods, and an accessible housing market, another thing that draws newcomers to North Carolina is the weather. With four full seasons — including fall in all its colorful brilliance and a not-so-harsh winter — Raleigh’s weather has got something for everyone.
The summer can get hot and be on the humid side, but the temperatures typically stay between 85 and 95. That means it’s definitely hotter in places that are further south… Texas and Florida, for example.
On the flip side, in the winter, it’s usually much colder in places like Michigan and Maine than it is in Raleigh. And North Carolina doesn’t get nearly as much snow as our northern neighbors.
“On average, July is the warmest month of the year with an average high temperature of 90 (degrees Fahrenheit). January is the coolest month of the year with an average high temperature of 51 (degrees Fahrenheit).”
An October 4, 2022 headline sheds light on some of the educational opportunities available in the Raleigh area: NC School of Science and Math ranked No. 1 high school in America, Raleigh Charter ranks No. 31.
The NC School of Science and Math is located in neighboring Durham, NC.
“The mission of the North Carolina School of Science and Mathematics, an intellectually stimulating, diverse, inclusive, and collaborative community, is to:
- educate and nurture academically talented students to become state, national, and global leaders,
- increase access to high quality public education in North Carolina, and
- cultivate engaged citizens who will work for the betterment of the world, through challenging programs, with an emphasis on STEM, driven by the pursuit of excellence and innovation.”
Raleigh Charter School has found success as a high school that models small class sizes with dedicated teachers. Many other charter, magnet, and private schools contribute to the opportunities for Raleigh students in K-12 classrooms. Early college options and a thriving home school community round out the exceptional educational environment in the Raleigh area.
Raleigh is also home to many colleges and universities, including Campbell University Law School, Meredith College, North Carolina State University, Saint Augustine’s University, and Shaw University. Wake Tech Community College is also a well-known resource among many others. Raleigh schools offer a wide variety of programs and degrees that prepare students for successful careers, so students who want to get a great education will find plenty of options here.
Whether you’re looking for your first home or your forever home in Raleigh, NC, let the team at Gaskill Realty be your guide. Reach out today.