The Raleigh-Durham combined statistical area currently has a population of nearly 1.8 million people, with a recent expansion by 32,000. The capital of North Carolina is more commonly known as the “City of Oaks” for its many oak trees, which line the streets running through the heart of the city. Raleigh is also home to North Carolina State University and is part of the Research Triangle area, together with Durham and Chapel Hill. It was recently featured prominently in a number of “Top 10 Lists” including those by Forbes, MSNBC, and Money Magazine, due to its quality of life and business climate.
Job gains are at a strong pace and exceeding the national average. Raleigh/Durham has a diverse employment base consisting primarily of technology, government, biotechnology, and education. This diversity has enabled the local economy to fare better than most through the recent economic challenges. With strong job growth expected to continue through the next few years, the outlook for multi-family performance remains favorable.
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