Spotlight on Downtown Raleigh
Why Real Estate is Hot Right Now in DTR
The Raleigh-Durham area is receiving all kinds of accolades lately. Raleigh is a top contender for Amazon’s new HQ2. There are rumors that Apple may open a campus in RTP. And the area is consistently ranked as a top place to live and work.
Even if these and other high profile companies don’t end up sealing the deal, it’s no doubt the Triangle Region of North Carolina and Raleigh will continue to grow. Real estate investors looking to capitalize on the coming boom by buying in downtown Raleigh will find a host of benefits. Raleigh is emerging as an extremely appealing location for the young, trendy, and educated workforce companies like these typically employ.
A Young, Hip Population
According to Raleighnc.gov, the majority of residents living in downtown Raleigh are between 25 and 34 years old. Forty-eight percent have a bachelor’s degree or higher. And nearly 20 percent of residents are employed in the science and technology fields. And despite its ongoing growth, Raleigh is still 18 – 35 percent more affordable than similar cities such as Austin, Texas and Charlotte, North Carolina.
Mild Climate Means Outdoor Options Year Round
Raleigh’s mild climate makes it a great venue for athletic events. At any given time of the year there are 5k’s, triathlons, bike races, and more going on in and around the downtown area. The City of Oaks marathon takes place in the fall of each year and winds through the city for a beautiful, if not hilly, race venue.
Plenty of Museums
Raleigh has six notable museums, The North Carolina Museum of Art that features more than a dozen galleries, a new building with renowned innovative natural lighting, and a 164-acre museum park that connects to the Capital Area Greenway System
Easy to Get Around
Raleigh is just 144.8 square miles. Easy to navigate and very walkable, there are plenty of alternate transportation options to help people get around.
Bike Share and Scooter Share Programs
Both LimeBike and Bird Scooter have placed their bikes and scooters around downtown Raleigh recently. While the jury’s still out around the country on the scooters, the fact that Raleigh is seen as a target market for them speaks to the area’s newfound popularity.
Public Transportation
GoRaleigh offers bus service in and around the Raleigh area and Wake Transit continues to develop its ongoing transit plan designed to improve public transportation offerings around the Triangle area in coming years.
Regional Trains and Air Travel
Amtrak runs regional train service out of the newly renovated Union Station. Raleigh-Durham International Airport is just 10 miles from downtown and easily accessible via I-40.
So Much Dining!
It used to be that going to downtown Raleigh meant just a handful of restaurants to choose from, most of them offering barbecue. But these days there’s no shortage of places to eat. There’s the landmark Second Empire restaurant, Bida Manda for authentic Laotian, Crawford and Son led by award-winning chef Scott Crawford, and so much more. Raleigh is truly a dining destination.
Plenty of Housing Options
Raleigh has a healthy combination of single family homes, townhomes, apartments, and condominiums for sale and rent. Even better, more is being built in downtown Raleigh and will be available soon. It’s a hot market – there have been more buyers than inventory in recent months, but it doesn’t look like there will be a shortage anytime soon of potential renters to fill investment properties. There are an average of 64 people moving to the area every day!
If you’re interested in a real estate investment in downtown Raleigh, talk to us first! Oak City Properties offers a wealth of experience in investment property acquisition, as well as a full range of property management services to help you once you’ve purchased and are ready to rent. We’ll steer you in the right direction in regard to pricing, ROI, and handling the details of your rental property investment!