Raleigh real estate market overview
- Average Monthly Rent: $1,612
- Home Price/Value Percentage Change: 2.60%
- Median Home Value: $419,719
- Best Time To Sell a Home: May
- Affordability Index: Moderate
- Days To Sell a House: 52
- Job Market: Fair
- Public School Ranking: 29
Location and weather
Raleigh is located in central North Carolina. It is the capital of the state and is the second largest city in the state. Best known as the City of Oaks, Raleigh is one of the fastest growing cities in North Carolina and is home to major museums, local sport venues, an array of cuisine options and an exceptionally diverse art scene.
The weather in Raleigh shows for all four seasons, with hot summers, short winters, and an overall temperate climate. While there is significant rainfall here, the weather is described as beautiful by both residents and tourists.
Population, job market and cost of living
Raleigh has a population of 486,796, with a growth rate of 1.33% annually.
The job market has decreased by -5.21% over the last year. In ten years, job growth is predicted to be 44.17%. Raleigh has been ranked the third best job market in 2022, experiencing a substantial expansion in science, technology, and research industries. Named as one of the "Best Cities for Jobs in the United States", there is a variety of employment opportunities which continues to attract new residents throughout the year.
Living in Raleigh is slightly more expensive than most cities in North Carolina, with higher than average housing costs.
Raleigh real estate market details
- Cameron Village
- Boylan Heights
- Hayes Barton
- Oakwood (Downtown)
There has been a 2.6% increase in median home value over the last year. As of 2023, the median home value is $419,719.
Homeowners selling in May are more likely to earn more for their homes, while homeowners selling in June will likely sell their home faster.
The affordability index in Raleigh is 102. This number indicates moderate affordability in this city.
The top ranked public schools are Quest Academy, Abbotts Creek Elementary School, Magellan Charter, Exploris, Raleigh Charter High School, and Wake Early Coll Heal. This information is supported by data measuring academic performance and equity.