Durham Investment Property for Sale - 2023 Rental Home Appreciation
State: North Carolina
Located in the northeast corner of North Carolina’s central piedmont, Durham is home to the iconic Duke University, Research Triangle Park, and more than 300 health and medical-related practices.
Predictions call for continued population growth over the next 25 years thanks to a thriving job market. The real estate market across the triangle is booming as home prices steadily rise, making the Durham area an excellent region for real estate investment opportunities.
Durham's Attractive Housing Market
The Durham real estate market is flourishing due to the below-average cost of living and rising home prices. This, coupled with its impressive job market, has new residents flocking to the area consistently. Durham is an appealing location for growing families, young professionals, and real estate investors.
Here are a few of Durham’s most popular areas:
- Fuquay-Varina: This vibrant, family-friendly community was recently ranked in the top ten safest towns to live in North Carolina.
- Cary: Just south of Durham County, located in the heart of the Triangle area of North Carolina, Cary is a thriving community that repeatedly ranks high as the best place to live, work, raise a family, and retire.
- Chapel Hill: Home to one of seventeen UNC campuses, Chapel Hill has one of the top-rated school districts. Many find this city’s robust economy and education opportunities appealing reasons to relocate to this area.
- Morrisville: This city was recently ranked No.2 as North Carolina’s best suburb for young professionals. The Raleigh-Durham Intl Airport provides Morrisville, and the entire region, with more than 9 million visitors annually.
- Raleigh: This welcoming southern city offers something for everyone. Raleigh is a hidden gem of North Carolina, from its family-friendly eateries to the endless craft breweries.
Other areas to consider:
- Wake Forest - a delightful town known for outdoor activities such as golf and hiking
- Downtown Durham - is full of eateries, boutiques, and quaint Bed and Breakfasts
Rental Home Appreciation in Durham
Real estate prices are steadily rising, and even homes needing major renovations are selling quickly. With the shortage of homes for sale, many choose rental properties such as condos, single-family homes, and multi-family complexes over becoming homeowners.
According to reports of cash flow, growing job market, and population, the real estate market is thriving. Durham area investment properties have seen sustained success through rental income.
Economic Growth in Durham
The UNC Family Medicine Center employs more than 7,100 medical staff and resident physicians. Dedicated to conducting groundbreaking research, this facility attracts attention as a leader in modern medical breakthroughs.
Research Triangle Park is home to over 170 major research companies and growing. With more than 49,000 employees and contract workers, RTP is home to business giants such as BASF, GlaxoSmithKline, and IBM.
The Durham area is an ideal location for young professionals just starting their medical or technology careers or seasoned specialists.
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