Is Raleigh, NC a Good Place to Live in Today's Economy?

If you’re considering a big move, you might be wondering, is Raleigh, NC a good place to live? Well, look no further because we’re about to embark on a virtual tour of this charming community.

In this article, we’ll discuss the important factors you need to consider before moving. This way, you’ll have a smooth transition with abundant opportunities.

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Brief Overview of Raleigh, NC

Raleigh, NC, is not just the capital of North Carolina. This bustling city has grown in popularity amongst all age groups. The city has a scenic downtown but still holds its true southern roots.

Raleigh also emphasizes the importance of family with its suburban feel. Nonetheless, the city still holds room for nightlife, modern arts, and NC traditions.

Lastly, it’s not too far from the coast, making it an ideal place to grow a city while still having easy access to the shore. Luckily, even with these great amenities, Raleigh is not too congested.

In fact, Charlotte, NC ranks first in the most populated cities in North Carolina. This means locals and newcomers can peacefully coexist and build strong bonds.

Raleigh at a Glance

Raleigh sits in Wake County with a rough population of 486,796. The land area is about 146 square miles making the persons per square mile an ideal number for a city. The city sits in the east-central region of the state.

Its terrain consists of flat plains with some hilly areas. Raleigh is about 2 hours away from the coast, making it 434 feet above sea level. This number is ideal as the chances of hurricane damage are rare.

Raleigh also holds a lot of American history. For starters, the city was named after Sir Walter Raleigh, one of the men behind the “new world”. Raleigh would later become the selected capital as officials recognized a need for a structured government.

Raleigh would later fight in the Civil War. On May 20, 1861, the final votes to secede from the Union would be held in the capital building. This capital building is still in use and also has guided tours.

At the end of the Civil War, North Carolina began to make revolutionary changes. These changes would make Raleigh, NC what it is today, a free and diverse community.

The Pros of Living in Raleigh

Now that you have some background on Raleigh, let’s begin looking deeper into pros and cons. There are many factors that you must consider when selling your current home and moving. For example, the cost of living in Raleigh and the housing market.

Keep reading to learn all there is to know about moving to Raleigh.

Economic Opportunities

Raleigh has great economic opportunities. When looking at average national wages, Raleigh closely resembles these numbers. In fact, the average weekly wage for all industries is about $1,332 in the US. And Raleigh’s is about $1,327.

And when we look at unemployment rates in Raleigh, we’re seeing a steady decline. The long-term unemployment average was about 4.35% and now they’ve lowered to 3.20%. This decline in unemployment may be due to the Research Triangle Park.

This innovation center was founded in 1959 and now houses hundreds of companies. These companies are science and technology-based. However, there are also many government entities, nonprofits, and post-graduate research.

Logistics, trade, and transportation are also in demand with 17.3% employees making up the population. The high demand comes from large retail stores such as Walmart and Food Lion.

Overall, there is a heavy emphasis on healthcare, education, and government workers. All of which are in demand in the Research Triangle Park.

Housing and Real Estate

Raleigh’s housing costs are relatively low compared to other areas. For example, home prices dropped by 6.1% in the past year, with an average selling price of $385K.

In comparison to the national average, which is $410,200, the cost of living in Raleigh is fair.

The housing market is also competitive in Raleigh. In fact, homes spend about 46 days on the market. For renters, moving to Raleigh also makes sense.

On average, it costs about $1,800 to rent in Raleigh, NC and the national average is about $1,995.

Education and Research

According to a recent survey, Raleigh, NC ranks as the sixth most educated city in the U.S.

When we look at the numbers, we see that about 54% of Raleigh hold a bachelor’s degree. Of the population, 21% have a graduate degree.

It’s no wonder these numbers are so high since Raleigh is near many top universities. For starters, the city is home to North Carolina State University. Also just a couple of miles away is Duke University.

This research university falls in 7th place out of 439 national Universities. The ranking was based on graduation rates, quality of education, and overall satisfaction.

There are also numerous research facilities in the area. Many consider Raleigh to be a hub for innovation.

But college-level education isn’t the only aspect driving Raleigh forward. The public school quality is also a top priority. Raleigh has roughly 67,005 students with 14,536 being in the private sector.

Nonetheless, 82% of K-12 students are enrolled in Raleigh’s public schools. This city has many top-ranked public schools.

Some honorable mentions are Raleigh Charter High School and the Quest Academy. These public schools are ranked by their student’s math and reading scores.

The numbers show that Raleigh public schools have a 45% math score. And a 55% reading score. These numbers outrank the North Carolina public school average. The state’s math is 42% and the reading is 47%.

Overall, the education system in both private and public schools is high quality. Therefore, Raleigh is a great place to raise a family or further your own education.

Cultural and Recreational Activities

When living in Raleigh, you’ll learn about the historical significance of the city. For starters, the city is often referred to as the City of Oaks because of its abundance of oak trees. These oak trees are hundreds of years old.

Many were around during the Civil War, which would heavily impact Raleigh to this day. Many of the original settler homes are still intact. One of the best-known is the Joel Lane Museum House.

This home was built in 1769 by Joel Lane, the “Father of Raleigh”. The home dates back to the Revolutionary War. And if you enjoy history and nature, you’ll be pleased to hear about Moore Square.

This urban park is also a historical landmark as it’s one of the first parks in Raleigh. The Pope House Museum is another protected artifact, as it was owned by Dr. Manassa Thomas Pope. He was one of the only African Americans to run for mayor in the South.

But aside from museums and parks, Raleigh also has a lot of festivities. One of the most known is the Outlaw Music Festival. Last year, the great Willie Nelson performed alongside other talented musicians.

The Red Hat Amphitheater is also a host for many talented musicians and sports teams. In w-2024, major musicians such as Brothers Osborne and Tate McRae are expected to perform.

And once it gets warmer, more outdoor activities will begin taking place. For example, N.C. has one of the largest craft beer festivals in the U.S.

This outdoor festival hosts over 100 breweries and 50 food trucks. The festival is called Brewgalool and is set to take place in downtown Raleigh later this year.

Food and Culinary Scene

The culinary scene is growing in Raleigh because of its innovative take on southern food. There are even some restaurants that have earned a prestigious Michelin star.

One of the most notable is Death and Taxes. This dining experience alone will have you wanting to move to Raleigh.

Death and Taxes pays homage to the Oak-filled streets in Raleigh by cooking in a wood-fired oven. This restaurant has its Southern classics with some elevated delights. So, if you’re a foodie then, you’ll love this restaurant which is close to the downtown area.

And of course, we can’t forget to mention Raleigh’s BBQ scene as it is a local specialty. Did you know there are two types of BBQ forms: Eastern Vs. Lexington? The Eastern style is what Raleigh, NC follows.

This style can be described as a slower cook of the meat topped with a vinegar base sauce. One of the most popular spots to get Eastern BBQ is The Pit Authentic BBQ. Here you can find a slow-cooked pig!

Lastly, if you like variety, then you’ll be pleased to hear about all the amazing food festivals in Raleigh. Some of the most famous are the Brew ‘n’ Choo and the Mid-Town Square Spring Festival. Both feature the best food trucks of the year and have family-friendly activities.

Community and Diversity

When moving to Raleigh you’ll notice its initiative to push for a diverse community. The city ranks 92 on demographic scales, which is higher than other US cities. The city also has strong community bonds with ample social engagement opportunities.

For example, the African American Cultural Festival of Raleigh takes place every year.

This celebration highlights the cultural significance of African Americans in various industries. Therefore, it showcases black-owned food, art, and music innovators.

Other community events are hosted by non-profits such as Father’s Forever. This is a non-profit dedicated to engaging with new fathers in Raleigh. This non-profit helps men through early fatherhood and family planning.

Another community club is Raleigh Community Development. The club has hosted various leadership seminars and fundraisers for the community.

Cons of Living in Raleigh

Like any major city, you might find some unlikeable people and places. If you’re seriously considering living in Raleigh, then it’s important, you know everything. Let’s dive into the pros of moving to Raleigh.

Cost of Living is Rising

Living in Raleigh is more expensive than the national average. And living costs are expected to keep rising.

In fact, home prices have gone up by 35.7% in the past year. This could be due to housing demands brought on by new settlers and inflation.

But let’s discuss the numbers and take a further dive into this phenomenon. First, when we look at the numbers, the total cost of living is 5.8% higher than the U.S. average. The city also ranks 16.3% higher than North Carolina’s average cost of living.

This rise in housing costs could be explained by the following factors:

Proximity to other major cities
Proximity to major retailers
Proximity to major educational entities
Political inputs
New housing projects

Overall, the cost of living is rising. However, as mentioned earlier, this area holds many job opportunities as well.

Weather and Environment

Despite Raleigh being in the upper region of the south, it still has its climate issues. Raleigh has an average of 21.91 inches of precipitation per year. This average is relatively low compared to other cities such as Chicago and Los Angeles.

However, the humidity does take a toll on its residents, especially during the summer. On average, the month with the highest reported temperature and humidity is July. The highest reported winds are in April.

Unfortunately, these winds do bring in lots of pollen. Many residents experience issues with breathing or discomfort due to allergies. Lastly, the winters are normal, with the lowest reported temperature being 41 °F.

Transportation and Traffic

Raleigh is a busy city so the traffic can be difficult during peak hours. On average, Raleigh experiences about 4-6 traffic jams per day. These jams do impact travel times and have increased since last year.

Reports show that the average time it took to travel 6.2 miles increased by 10 seconds. In comparison to last year, which took about 9 mins and 31 seconds to travel 6.2 miles. However, these travel delays are expected as the city grows.

Lastly, the public transportation in Raleigh is decent. The city does have public buses. However, they do not have rapid transit such as a subway system. The city has implemented new ways of travel such as ride sharing and bike lanes.

Driving is always better since Raleigh tops the list of best places in the nation to drive a vehicle. Unfortunately, Raleigh scored low on the quality of its infrastructure, placing 38th. Overall, it’s best to own a vehicle when moving to Raleigh; just be aware of traffic and bad roads.

Distance From Major Cities and Attractions

As mentioned earlier, Raliegh is about 2 hours away from the coast. Luckily, if you’re a mountain type of person, you’ll only need to travel about 30 minutes. The Mountains to Sea trail is about 1175 miles long. The trail begins in the Great Smoky Mountains and passes along other nature reserves in NC.

Unfortunately, other major attractions are further in reach. In fact, the next closest city is Charlotte, NC, which is about 2.3 hours away. If you want to leave the state, the next city would be Atlanta, Georgia.

You can choose between a 5-hour drive or a 1.3-hour flight. Overall, Raleigh doesn’t sit in an area with many attractions other than the ones in the city. If you like to explore bordering towns, Raleigh won’t be the best place for that.

Living Experience in Raleigh

The day-to-day life will look different for everyone, depending on their demographic. For a single young professional, Raleigh has a lot to offer.

For example, the nightlife and adventurous activities are always part of Raleigh. The city also holds many college sports events and music festivals.

On a regular day, a young professional can stop at a local coffee shop and order some great coffee. Afterward, they can head to work at one of Raleigh’s major industries. As previously mentioned, the city needs education, health, and tech workers.

For a young family, Raleigh offers many parks and public libraries. If you’re a working parent, Raleigh also offers high-end childcare.

Overall, your day-to-day will depend on your current lifestyle. Just know, living in Raleigh will positively impact your routine. So, expect your days to be a lot slower than in other major cities while still having lots to do.

Always remember that Raleigh has many community events and work opportunities. Therefore, your day-to-day might look different as you settle in.

Community Stories and Testimonials

The people of NC are happy to have made Raleigh their permanent home. Here are some personal stories and experiences that shine a light on Raleigh. The first is the Makepeace family. Believe it or not, this family is from Australia.

They’ve lived in 5 different countries and traveled to countless cities. And sold many of their homes to end up in Raleigh. The couple first moved to Raleigh in 2004, and they “instantly fell in love” with the city.

Another honorable mention is the Andrew’s family. The family has lived in Raleigh for many decades. In fact, Chip Andrew graduated from the N.C. State in 1966. He currently serves as part of the board of trustees in NC.

The couple loves Raleigh so much that they made a million-dollar donation to NC State. They hope this donation helps students who are pursuing entrepreneurship.

The overall experience from Raleigh residents is positive, and they seem to have a lot of pride. All of these are green flags when considering moving to a new city.

Safety and Crime Rates

When moving to a new city, it’s always important to look at the crime rates. Especially if you’re looking for the best places to live in Raleigh. So, let’s look at the numbers.

For starters, Raleigh is in the 59th percentile for safety. What this means is that 41% of cities are safer than Raleigh. However, this also means that 59% of cities are more dangerous than Raleigh.

In other words, Raleigh is relatively safe compared to other major cities. The chances of being a victim of a crime are 1 to 23 in the central areas.

When looking at the southwest part of the city, the chances of being a victim are 1 in 64. Overall, public safety in Raleigh is B-rated. This rating is above average compared to other major cities.

Raleigh’s Future Outlook

The future for Raleigh is looking very bright as the job market and population grows. Recently, the North Carolina Department of Commerce published a 10-year industry and occupation employment projection. The article states that North Carolina will add more than 389,000 new jobs between 2017 and 2026.

90% of these employments will come from the healthcare and social assistance industry. The tech industry is also leading the charts, as it’s estimated that 36,000 new jobs will appear in 2026.

However, the projections also show a 2.2% decline in manufacturing employment. Fortunately, job openings will increase for job seekers due to current employees leaving. One job will hold about 12 vacancies due to retirement and other exits.

The population growth should also be discussed, as Raleigh will see a grow from 1,474,600 in 2022 to 2,651,400 in 2060. This ranks Raleigh as the 11th highest U.S. city for projected population growth.

Urban Development and Infrastructure

Due to projected growth, Raleigh is planning some upcoming projects. The City’s Strategic Plan has started working on enhancing the following areas:

Arts and cultural buildings
Economic growth through innovation
Preservation of natural resources
Outreach programs for healthy communities
Transportation & Transit

Some more upcoming projects include Dorothea Dix Park, which will open in 2025. Along with that, the Aviator Brewing Company has plans to expand. This expansion will turn the area into a large hospitality hub for tourists and locals.

Both projects will also bring in more employment and fun activities. Last but not least, Raleigh is also trying to rebuild the city skyline. Currently, there are many developers ready to start building high rises that are worth up to 2.5 million.

However, these developers could push out current residents. And this has been a topic of debate over the last couple of years.

Currently, there are 7 designated zones for development. If all zoning laws go through, these areas could hold up to 40-story high-rises.

These plans are exciting but could change the culture in Raleigh. However, city officials and locals are hopeful that it will only contribute to the city’s growth.

Environmental Sustainability Efforts

Green initiatives and sustainability programs are a topic of discussion for many growing cities. And Raleigh is trying their best to be sustainable as they grow. In 2019, Raleigh set out to reduce 80% of greenhouse gas emissions by 2050.

Therefore, one of the first changes the city made was to switch to renewable propane. This alone will reduce gas emissions and hopefully achieve the goal of an 80% reduction by 2050!

Raleigh also hopes to use electric vehicles for public transport. However, this is still in the works.

Lastly, Raleigh also believes in conserving natural wildlife and terrain. This is why they have over 42 natural conservations. Luckily, these conservations get cared for by wildlife and terrain specialists.

Making the Move

Now that you know all the good and bad of Raleigh, you might be eager to begin your move. We know more than anyone how stressful this process can be so let’s simplify it.

First, it’s important you know the best places to live in Raleigh as there are countless neighborhoods. However, not all of them offer what you may need.

Let’s start by talking about the Historic Boylan Heights. This neighborhood is one of the first planned suburbs in the city. Due to its history, the neighborhood made the National Register of Historic Places in 1985.

Now the charming neighborhood is a place for all types of families to plant their roots. It’s important to note that this neighborhood is pricier than others. These prices are due to the history and refinanced Victorian-style homes. Many newcomers find themselves attracted to these amenities, making them highly sought after.

Next, if you’re a young professional, the historic downtown area may be the place for you. The area offers affordable high-rise apartments and homes. And is close to major companies and transportation lines.

However, if you want to get close to the action but not live in downtown, consider five points. This trendy neighborhood is great for young families as it sits only 2 miles north of downtown.

The name comes from the five historic neighborhoods that come together to form 5 points. All 5 neighborhoods have their distinct personalities. Some neighborhoods have townhomes, newly built homes, and even large estates.

Relocation Tips

Overall, you can’t go wrong with any of these neighborhoods. Where you may get discouraged is during the actual moving process. This is why it’s important to hire the best moving services. And if you’re moving out of states it’s even more important.

When looking for moving services, ensure they have reviews, a legit website, and contracts. And before you hire a company, ensure they give you a written quote for all the fees. Some movers end up paying thousands of dollars more than expected because of hidden fees.

Next, make sure all valuable items have insurance on them in case of theft or damage during the move. Lastly, make sure you meticulously plan your move-in day. Organize boxes based on importance and fragility. Doing so will save you so much time during the unpacking phase.

Lastly, consider hiring professional packers and unpackers. This will relieve some stress and will allow you to fully enjoy Raleigh.

Real Estate Market Insights

The real estate market in Raleigh is very competitive. Realtors are seeing multiple offers for one property. This is why it’s important to have your affairs in order if you plan on buying.

First, start by getting pre-approved for a mortgage. This will shorten your wait times and could bump you up in the case of multiple offers. Not only that, but it shows the seller that you’re serious and qualified to make such a purchase.

For renters, the process can also be stressful as many landlords want to pick desirable renters. Therefore, the application process can be just as long. A tip for renters is to have multiple locations of interest.

Do research on the rental market trends in Raleigh, N.C. These trends will give you the average rental prices for your desired area. With this information, you can make a better decision on which area suits your needs.

Once you have your desired rental, read over the lease terms one more time. Ensure the asking rent price is the same and any amenities are in writing. Lastly, you also want to make sure the move-in and move-out is what you agreed upon.

Integration Into the Community

Being in new a community can be fun especially once you’ve fully acclimated. However, this does take time and effort. It’s important to always have an open mind and heart.

Put yourself in situations where you can engage with new people and become part of the community. Here are some examples and how to do so:

Go door to door and greet your new neighbors
Get involved in community events
Volunteer in local shelters and public libraries
Use networking events in your area to get connected with like-minded people
Go to social events in downtown Raleigh
Join social clubs

We know these may seem a little intimidating, but the more you get involved, the faster you’ll fit in. This is important when moving to a new city since many newcomers get the “move blues” when in a new area.

Let Us Recap

Moving to Raleigh, NC could be in your future. Especially now since you’re fully educated on the housing market, statistics, and history of the area.

Remember, this city is a growing area, and by 2060, it’s expected to explode in population. We know your eagerness to be part of this historic change.

Overall, living in Raleigh seems like a good plan for those who want to live in a growing city with new opportunities. And on the weekends, there are more than enough activities for you and the family.