Wealthiest Cities Around Raleigh NC

Today we're going to talk about the most popular places in and around Raleigh, North Carolina, where people with $1 million+ budgets are searching for homes.

Let's get started with one of the most popular cities, Cary, North Carolina. Cary has long been very popular with high-net-worth individuals, and one of the reasons why is because it's close to the Research Triangle Park and to all of Raleigh. Also, high-speed internet is widely available in Cary, if you happen to work from home. As far as schools go, Niche.com gives Cary an A+ for its public schools. You can spend just a little over a million dollars for a 3400 ft detached home in Cary, all the way up to $9,600,000 for a 10,000 square ft estate sitting on 10 acres on a lake. Some of the negatives of moving to Cary is it's very popular with transplants from all over the country and all over the world, which means traffic can get to be a bit of an issue at times. Most of the luxury homes you're going to find in Cary currently are single-family homes, although it is possible to get a townhouse or a condo in Cary as well.

Next up, we have downtown Raleigh, otherwise known as ‘inside the beltline’. This area has long been popular with high-net-worth individuals, mainly because there's an abundance of historic homes, quaint neighborhoods, great restaurants, shopping, and nightlife. There are lots of things to do in this area and, of course because it's downtown Raleigh, it is a great location and easily accessible to just about anywhere in the triangle area. Some of the negatives of downtown Raleigh include the population density, lots of people in downtown Raleigh and of course, high-rise buildings, and that results in difficulty driving around getting around. As far as schools go, Niche.com gives schools in Raleigh an A.

Next, we have another part of Raleigh that's very popular with high-net-worth individuals, and that is North Raleigh. North Raleigh is not a city in and of itself, it's a section of Raleigh generally we say it's anything north of Millbrook Road and below Highway 98 and Capital Boulevard going into Wake Forest. In North Raleigh, you're going to find some very beautiful established neighborhoods on larger lots with stately homes, high-end amenities and of course, great restaurants and shopping. Beyond the typically larger lots, you're going to find another thing people really love about North Raleigh is it's very close to just about anything. You can be in downtown Raleigh in about 15 to 20 minutes. You can drive to Research Triangle Park and the airport in about 30 minutes, and in general most anywhere in the triangle area in under 45 minutes. You're going to find some amazing shopping destinations in North Raleigh including Lafayette Village, where there's a European vibe to the complex with restaurants, shopping, etc. There's a ton of strip malls in the North Raleigh area where you're going to find all kinds of restaurants and shops also. There are some great things to do outdoors in North Raleigh such as Falls Lake where you can go hiking, boating or swimming. One of the negatives of North Raleigh is if you like to be in the hustle and bustle of downtown areas, then unfortunately, North Raleigh is going to be a little bit more suburban for you.

Next up, we have another section of Raleigh that's super super popular, and that is Midtown. Midtown is that area just above 440 all the way to Millbrook Road and across to Highway 70 which is Glennwood Avenue. It's become very very popular in the last few years especially after the redevelopment of North Hills Mall in 2004, which rapidly transformed this area from a very sleepy area to one of the most popular destinations. There's tons of shopping and restaurants again all fueled by the North Hills Mall area. As a result, a lot of people have moved there and built high-end homes and so of course, to do that in an already developed area you're going to have to tear something down. Many smaller, older homes are now big giant new homes in North Hills and in the Midtown area in general. One of the big negatives of living in the North Hills/Midtown area is prices have been going up. Another negative of this area is it's very popular. It's kind of a victim of its own popularity with lots of traffic, lots of density going on in this area, so expect if you want to move to the Midtown area, you're going to need to be prepared to be behind the wheel a good bit more than you would generally expect.

Next up is Wake Forest, North Carolina. Wake Forest has had one of the most dramatic growth spurts of any town in the triangle area going from a sleepy little enclave, to one of the most popular cities in the entire area. Wake Forest borders and touches North Raleigh and because so much of North Raleigh has been built out, a lot of the new construction growth has moved its way into the Wake Forest area. This has resulted in a lot of beautiful new construction or newer construction homes in Wake Forest. Some of the things high-net-worth individuals love about Wake Forest is its proximity to North Raleigh and everything that you find there. It's also beautiful, with lots of trees and lots of parks if you like to commune in the great outdoors.  There are great restaurants and great amenities in Wake Forest with new things popping up every single day. One negative of Wake Forest is it's quite a bit to the north of most of the things in the Raleigh triangle area.

Next is Chapel Hill and Carrboro. Chapel Hill and Carrboro are two cities that have long been popular with high-net-worth individuals that have anything to do with the University or with the hospital system around UNC hospitals.  Lately Chapel Hill and Carrboro have been popular with retirees and people who work from home as well. High-speed internet is readily available in both two cities and so makes it super easy if you work from home. Beyond the employment opportunities, both Chapel Hill and Carrboro have great restaurants, great cultural activities, great things to do, and that draws in a lot of people.

Next up, we have Durham, North Carolina. Durham is another city where a lot of high-net-worth individuals are moving to. Durham is the second largest city in the Triangle behind Raleigh and has tons of shopping and tons of restaurants. The location is great, especially if you're working in Durham or in the Research Triangle Park area. You can be in Research Triangle Park from most parts of Durham in about 20 minutes. One of the negatives of moving to Durham is there's not a lot of inventory of luxury homes in Durham currently, so as a comparison in Raleigh you have about 220 homes above $1 million dollars to choose from where in Durham you only have about 60.

Lastly, we have Apex, North Carolina. Apex is very popular mainly because it's attached to Cary. A lot of new construction has ended in Cary and so that new construction business has moved towards Apex. One of the positives of Apex is you get all the amenities of Apex plus Cary, such as the shopping, restaurants, grocery stores, etc. One of the negatives of Apex is you're further away from Research Triangle Park and the RDU airport.  You're going to do a little bit more driving from Apex, especially if you drive to either of these on a regular basis.

That is our list of the most popular places in and around Raleigh, North Carolina, where people with $1 million+ budgets are searching for homes. If any of these areas interest you, be sure to contact me and my team below. We would love to help!


Post a Comment