If you’re thinking of moving to Raleigh, this is the guide for you. We’ve covered the basics, the details, the local insights, and of course, Raleigh’s real estate market. Check it out!
First of all… where is Raleigh?
Raleigh is located in the northeast portion of North Carolina. Our city is the capital of the state, and its geographical location means we enjoy hot summers and mild winters. We’re also in the Research Triangle (or just The Triangle if you’re a local), which comprises Raleigh, Durham, and Chapel Hill. The area earns its name from the major research universities at home in each of the anchor cities: North Carolina State University, Duke University, and the University of North Carolina at Chapel Hill. Due to the stately oak trees growing throughout the city, Raleigh’s other moniker is the City of Oaks.
Why are people relocating to Raleigh?
Wake County’s population grows by 64 people per day! New residents are attracted to the area for a variety of reasons, but these are the ones we hear the most often:
Besides the powerhouse universities that gave the Triangle its name, Raleigh is home to 10 traditional universities and colleges. In addition, you’ll find top-notch schools for a variety of trades as well as technical colleges.
Even if you don’t plan on attending classes, living in an area anchored by higher education institutions is beneficial. Why? College towns usually enjoy:
- Higher real estate values—especially for investors in rental properties
- High-quality employment opportunities
- Innovation from university research dollars and the nation’s top minds
- Greater artistic and community development
- A highly skilled workforce
Low cost of living
According to Pay Scale, Raleigh’s cost of living is 7% lower than the U.S. average. Utilities cost 3% less, housing costs 9% less, and groceries cost an impressive 13% less. That means you can spend less on basic necessities—and you’re likely to earn more. The average household income in Raleigh is 3.2% higher than in the rest of the country, so your salary is potentially larger while also going further.
The growing economy
North Carolina has the U.S.’s strongest economy right now and was ranked the #1 Best State for Business. Raleigh has received multiple top rankings in 2022, including the #1 city for working women, the #4 state capital for economic well-being, and the #3 hottest job market in the United States. Large companies like Apple, Toyota, and Amazon are expanding in the Triangle, creating high-paying jobs and attracting top talent.
Rather start your own business? Raleigh’s small business initiatives can help it thrive. Whether you have your eye on a tech or healthcare job or you have your own business plan mapped out, living here can help you make your dreams come true.
The real estate
Like most of the U.S. market, real estate in Raleigh was a wild ride for anyone trying to break in in 2020 and 2021. Now, homebuyer competition has eased and the market has started to cool—which makes it a great time to jump in.
Last month, the median sale price of a house in Raleigh was $400,000, down $36,350 from its peak in April 2022 but up 9.3% year over year. Home values are appreciating rapidly in Raleigh—even in a cooling market—and buying a home now is a great way to hedge against inflation in the future.
Not to mention, homes in Raleigh are spectacular! We recently ranked 3rd for the biggest homes in the country, so if you’re looking for a home with a lot of space, you’re looking in the right place. From luxury new construction properties to homes with historical charm to ultra-convenient condos, the City of Oaks has a home for you.
Raleigh’s community is supportive, kind, and second to none. This city was recently ranked as one of the “most neighborly” cities in the country—the only one in the South to earn a spot. When you buy a home here, you’re not just buying four walls and a roof. You’re making a place for yourself in a city where you’ll truly belong. All you have to do is decide which neighborhood is right for you!
Where should I live in Raleigh?
Raleigh’s diverse neighborhoods support a wide variety of lifestyles. Here are a few that might suit you:
Looking for a true city feel? Try Downtown. This neighborhood is vibrant and brimming with activity, making it a perfect choice if you want to be close to the action. A true center of arts and innovation, this small neighborhood packs a cultural punch. It’s home to nearly 30 art galleries and museums as well as the Duke Energy Center for the Performing Arts and the North Carolina Theater. Downtown is also one of the most walkable and bikeable neighborhoods in Raleigh, making it a great pick for carbon-footprint-conscious home shoppers.
Like downtown living? Check out homes for sale now in Downtown Raleigh.
Also known as Raleigh’s Midtown, this upscale neighborhood is forested with Raleigh’s characteristic oak trees and brimming with elegance. Homes here are usually larger and nestle into lush, beautiful lots, and it’s the perfect neighborhood if you’re looking for a new construction home. Enjoy the public art, a multitude of health and wellness facilities, luxury salons, world-class restaurants, and more—right outside your door.
Sound like it’s right for you? Check out homes for sale now in North Hills.
Five Points is a historic district comprising five smaller neighborhoods, including Hayes Barton, Vanguard Park, Bloomsbury, Georgetown, and Roanoke Park. This convergence of longstanding neighborhoods has created a strong community that entwines modern convenience with historic charm. Homes in Five Points match that, with character-filled aesthetics and plenty of modern upgrades.
Interested? Check out homes for sale now in Five Points.
Get help relocating to Raleigh!
Our team has worked and played in Raleigh for over 20 years, and our experience gives us the edge you need. We know the City of Oaks inside and out, making us the right choice for relocation from out of town or out of state. Tell us what you’re looking for, and we’ll turn your must-have list into your real-life dream home. Fill out the form below to get started.
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