Cost of Living,
Wake's Real Estate Market
Raleigh-Cary Metro Area
Profile: Mid-sized-city complex
Location: Northeast-central North Carolina, 40 miles south of Virginia border
Time zone: Eastern Standard Time
|Strong economy||Growth and sprawl|
|Attractive residential areas||Long commutes|
|Educated population ||Hot, humid summers|
The Raleigh–Durham–Chapel Hill triad, sometimes referred to as the Research Triangle, is a multifaceted commercial center and capital city. Raleigh, and the rapidly growing suburban community of Cary just west, form the eastern corner of the triangle.
Taken together, the Triangle is the educational, intellectual, and high-tech center of North Carolina and a large area of the South. Highlights include a solid, growing economic base; high degree of livability; and impressive amenities mostly related to local universities. Raleigh’s main role is as a capital city, with the jobs and cultural interest that typically accompany that role. The city itself is plain and relatively uninteresting as capital cities go, with nondescript government buildings, a few historic sites, and nicer residential areas near the N.C. State campus to the southwest towards Cary.
The immense 6,800-acre Research Triangle Park, the area’s economic crown jewel, contains major corporate offices and extensive research facilities. The Research Triangle Park isn’t the only game in town – Cary itself has an extensive base of light manufacturing and new-economy businesses. Although the area is well kept and growth between the cities is fairly well managed, sprawl is an ever-present issue, and commutes from the Raleigh and Cary areas to the Research Triangle are crowded.
The area as a whole and Cary in particular have experienced phenomenal growth. A large community from the Northeast has settled in the area, attracted by relatively low living and housing costs, climate, and laid-back lifestyle. More recently, a large number have migrated north from Florida in response to recent hurricanes. While costs are very attractive compared to the coasts, they are relatively high for North Carolina and most of the south.
Raleigh and Cary are located in a transitional zone between the Coastal Plain and the Piedmont Plateau. The surrounding terrain is gently rolling and heavily wooded. The central location between the mountains and coast brings favorable climate with the exception of some summer heat. The mountains form a partial barrier to cold-air masses, resulting in few winter days with temperatures below 20 degrees. During summer, tropical air is present over eastern and central sections of North Carolina, producing warm temperatures and high humidity. Rainfall is well distributed year-round with most occurring in summers as thunderstorms, some of which can be intense. The area is far enough inland to reduce the effects of coastal storms. While snow and sleet usually occur each year, excessive accumulations are rare.
Interesting Facts about Wake County
As of 2014, Wake County's population is 905,573 people. Since 2000, it has had a population growth of 44.26 percent.--------------------
The median home cost in Wake County is $200,200. Home appreciation the last year has been 2.80 percent.--------------------
Compared to the rest of the country, Wake County's cost of living is 4.40% Higher than the U.S. average.--------------------
Wake County public schools spend $9,257 per student. The average school expenditure in the U.S. is $12,435. There are about 16 students per teacher in Wake County.--------------------
The unemployment rate in Wake County is 4.70 percent(U.S. avg. is 6.30%). Recent job growth is Positive. Wake County jobs have Increased by 3.71 percent.
Ranked #2 Best Cities for Teleworking - Medium Metro Areas
Ranked #3 Most Romantic Cities for Boomers
Ranked #3 Best and Worst Cities for Sleep
Ranked #4 2005 High Gas Prices
Ranked #4 Sleep in the City Study
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Average Commute time is 24 minutes. The National Average is 25 minutes.--------------------
Wake County's Real Estate Market (click to see properties)
• Newly Listed Homes
• Most Expensive Listing
• Million Dollar Houses
• Homes from $750,001 to $1,000,000
• Homes from $500,001 to $750,000
• Homes from $250,000 to $500,000
• Homes under $250,000
• Median Priced Homes
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