Writer: Dylan Bruton
2 min read May 2024 — Known for its world-class education institutions and technology sector, Raleigh-Durham, often referred to as the Triangle which includes Durham and Chapel Hill, has rapidly grown in recent years as more businesses and families move to the region. Here we highlight five reasons why the area is performing better than most other metropolitan areas in the United States and key drivers of future growth.
Cost of living
At 4% below the national average, Raleigh-Durham’s cost of living sets it apart favorably from other cities. In each category from housing to transportation and utilities, Raleigh is more affordable — for now. In 2024, the city ranked No. 2 among the hottest real estate markets in the nation while Durham ranked No. 4. The metric comes from the U.S. Housing Market Index which ranks three qualifying factors: housing demand, housing supply and financial health. In particular, Raleigh was ranked No. 1 in terms of housing demand and Durham was No. 4. The average cost when renting an apartment in Raleigh is just below $1,000, according to Shams Property Management. One of the biggest draws to Raleigh is its existence as the most inexpensive major tech industry city. For young professionals looking to establish themselves, the foundational conditions within Raleigh-Durham are beneficial to cultivating long-term success.
Educational opportunities
The Triangle boasts a talented workforce in large part due to its educational offerings. In 2023, Raleigh was considered the No. 6 most educated city in America while Durham is ranked No. 15, according to Forbes Advisors. Within the Raleigh area, almost 54% of its residents hold a college degree and more than 21% possess a graduate degree. Raleigh is most notably home to esteemed universities like North Carolina State, Shaw University, and Meredith College. In the Durham area, more than 56% of residents have college degrees and nearly 27% have graduate degrees. Duke University, the University of North Carolina at Chapel Hill, and North Carolina Central University are all based in the area. The Raleigh and Durham communities also offer high-quality education in public, private, magnet, and charter schools. The school systems are some of the top ranked in the nation from grade school to high school. They even have a combined 56 high schools recognized on U.S News and World Report’s Best High School rankings.
Job opportunities
The amount of job opportunities in Raleigh-Durham is hard to beat, especially within tech. Raleigh is ranked as the No. 5 best job market and this is largely thanks to the strong tech market in the city. “The economic development pipeline remains very strong with opportunities focused on advanced technology industries such as life science and advanced manufacturing,” said Michael Haley, executive director of Wake County Economic Development, as cited by WRAL TechWire. “We are currently leading 38 active projects with over 14,000 associated new jobs and $8.4 billion in potential capital investment.”
Quality of life
When you mix Southern hospitality with the hustle and bustle of the East Coast, you get Raleigh-Durham. Despite Charlotte possessing the bigger name nationally of cities within North Carolina, Raleigh is a cultural hub with a plethora of options for residents and tourists to enjoy. On the arts side, the area has many world-class museums, performing arts centers, and live music events/festivals. If you prefer sporting events, collegiate sports take on a whole new meaning with the surrounding universities showcasing a high level of competition. At the professional level, Raleigh is home to the Carolina Hurricanes, known for its passionate and loyal fan base. While soccer is relatively less popular than the aforementioned sports, the North Carolina Football Club is highly relevant thanks to the success of the Capital Area Soccer League. There are even two minor league baseball teams, the Durham Bulls and Carolina Mudcats, that are supported by the local communities. For those who enjoy the outdoors, many gardens, parks, and historic tours that showcase the natural scenery of Raleigh and Durham.
Great culinary cuisine
One of Raleigh-Durham’s best-kept secrets is its dynamic dining scene. A market sector known especially for barbecue, southern cuisine, seafood, and international cuisine, there are over 1,200 restaurants, bistros, cafes, and eateries in Raleigh alone. Southern Living ranks Raleigh as one of the “Top 10 Tastiest Towns in the South” and with the bevy of big-name chefs with name recognition and acclaim, it all checks out. Chefs like Ashley Christensen, who has been nationally awarded and recognized as a two-time James Beard Foundation Award winner for Best Chef, is a trailblazer, putting Raleigh on the culinary map. Walter Royal, an executive chef at Raleigh’s Angus Barn, was awarded the Chef of the Year by Restaurant Guild International. Scott Crawford, a five-time James Beard Foundation semifinalist, saw his first restaurant Crawford and Son awarded “Restaurant of the Year” by both Raleigh’s The News & Observer and Indy Week publications. Raleigh-Durham is full of delicious establishments that span back multiple generations like the Players Retreat, Clyde Cooper’s Barbecue, 42nd Oyster Bar and newer and vibrant restaurants like Raleigh Times, Stanbury, and Capital Club 16. Raleigh-Durham is considered a food lovers mecca, which given the multitude of choices to enjoy a quality meal, might not be too far off.
