State: North Carolina
North Carolina's capital city, Raleigh, was founded in 1792, and it is the largest city in the Research Triangle that comprises Raleigh-Durham-Chapel Hill. Raleigh is known as the City of Oaks because of its 9,000 acres of parkland, and its much-loved greenway system provides more than 180 miles of walking and hiking trails that connect open grassy parks and woodland areas.
Raleigh is well-located in east-central North Carolina and lies between the hills of the Piedmont region and the flat coastal plain, which makes the climate temperate with four distinct seasons. Real estate investing in Raleigh is the topic of much discussion, with the real estate market appearing to have risen rapidly at the end of 2021.
Real estate investor demand in Raleigh appears more robust than ever, with single-family homes accounting for around three-quarters of investment real estate purchases. Here are a few of the city's most popular areas:
Investing in multifamily real estate in both Durham and Raleigh near Duke University and North Carolina State University is also an opportunity.
People enjoy living in Raleigh not only because of the wealth of job opportunities available but also because of the wide range of events and recreational offerings. It has a busy event program that offers residents the chance to enjoy music, film, and art exhibitions, in addition to food and artisanal beverages prepared by local restaurants.
There are also fewer than ten traditional universities, excellent public school districts, and stand-out sports facilities in the Raleigh-Durham-Chapel Hill area. All of which makes the area particularly attractive to Raleigh real estate investors.
Raleigh became part of the Research Triangle area after creating the Research Triangle Park in 1959. It's now the most prominent tech research and development park in the U.S., with 300 companies making their home there.
Growth in Raleigh's job market is predicted to be 44.2%, which is considerably higher than the U.S. average of 33.5%, making it attractive for people looking for an investment property to rent out to generate cash flow.
U.S. News expects home prices to continue to rise as young professionals flock to the city for its career opportunities. The North Carolina Research Triangle includes Fortune 500 companies such as IBM, Cisco Systems, BASF Corporation, GlaxoSmithKline, SAS Institute, Biogen Idec, and Lenovo.
The range of tech jobs available attracts talent into the area, but that's not all Raleigh-Durham-Chapel Hill offers — there is also a wide range of educational jobs available at local universities, including the University of North Carolina (UNC).
If you're interested in learning more about how to invest in rental homes easily, head to Arrived to request more information.