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Raleigh is the capital of the state of North Carolina. Home to over 480,000 residents, it is the second-largest city in the state after Charlotte. The city is part of a large metropolitan area known as the Raleigh-Durham-Chapel Hill area, or the Triangle area, which has a population of 2.6 million. One of the fastest-growing cities in the US, Raleigh enjoys a population growth rate well above the national rate. This growth is driven primarily by the strong annual net migration the city experiences. This is a good indicator for those considering investing in the Raleigh real estate market since, with this growth in population, comes more tenants. Additionally, nearly half of the city’s residents (48% according to NeighborhoodScout) are renters rather than homeowners, meaning Raleigh rental properties benefit from high demand and occupancy rates.

The City of Oaks enjoys a strong economy that is supported by a young and highly educated workforce. It is part of North Carolina’s Research Triangle, one of the country’s largest and most prominent high-tech research and development parks and a well-known hub for life sciences. The surrounding area is home to a number of universities, including North Carolina State University, UNC Chapel Hill, and Duke University, which have a notable economic impact on the region. Each year, thousands of graduates from these universities provide a steady source of employees that help to fuel local economic growth. Ranked as the 2nd Best Place for Business and Careers by Forbes, Raleigh offers a welcoming business climate and lower costs compared to other tech cities. The city is a magnet for startups and sees many companies expanding and moving in from other parts of the country. Other major industries driving the economy in Raleigh include financial services, electrical, electronic and telecommunications equipment, clothing, food processing, and tourism.


Reasonably priced housing, coupled with strong population growth and ample employment opportunities, earned Raleigh the 3rd spot on PWC’s list of Top US Markets to Watch in its annual Emerging Trends in Real Estate: United States and Canada 2019 report. The city is among the top in the US for real estate investment and development opportunities. The report, however, cites a need for more affordable housing to meet demand.

Raleigh Realtors and Real Estate Agents


Raleigh  Real Estate Investment Performance
Facts and Market Trends in Raleigh
Homes For Sale1,319
Airbnb Properties222
Rental Properties726
Traditional Vacancy rate7.60%
Airbnb Occupancy Rate62.70%
Mashmeter68.00%
Median Price$425,497
Median Rent Price$1,434
Price/sqft$347
Median Days on Market79
Price to Rent Ratio23.0
Average Cap Rate
Airbnb2.84%
Traditional1.32%
Average Rental Income
Airbnb$2,754
Traditional$1,533
 
Median Household Income$54,581
Population469,298
Transportation in Raleigh
30 / 100
Car-Dependent
30 / 100
Some Transit
37 / 100
Somewhat Bikeable
Raleigh  Rent Prices
RENTAL STRATEGY STUDIOS 1 ROOM 2 ROOMS 3 ROOMS 4 ROOMS
Airbnb$2,159$2,062$2,156$2,556$4,413
Traditional$961$936$1,169$1,539$1,873
Raleigh, NC - Homes for Sale - Newly Listed
Investment Properties for Sale
$394,000
MLS
895 Seastone St
Raleigh, NC 27603
Southwest Raleigh
Single Family Residential
beds3 baths2,938 sq.ft.
CAP RATE
Trad. -0.90%Airbnb 0.97%
Investment Properties for Sale
$424,900
MLS 2288806
714 Glascock Street
Raleigh, NC 27604
North Central
Single Family Residential
3 beds2 baths1,572 sq.ft.
CAP RATE
Trad. 2.56%Airbnb 3.30%
Investment Properties for Sale
$219,900
MLS 2288746
720 N Person Street #205
Raleigh, NC 27604
North Central
Condo/Coop
1 beds1 baths662 sq.ft.
CAP RATE
Trad. 2.71%Airbnb 4.22%
Investment Properties for Sale
$525,000
MLS 2288736
665 Fallon Grove Way
Raleigh, NC 27608
Five Points
Townhouse
4 beds4 baths2,640 sq.ft.
CAP RATE
Trad. 2.50%Airbnb 7.98%
Top Performing Raleigh Properties
Investment Properties for Sale
$525,000
MLS 2288736
665 Fallon Grove Way
Raleigh, NC 27608
Five Points
Townhouse
4 beds4 baths2,640 sq.ft.
CAP RATE
Trad. 2.50%Airbnb 7.98%
Investment Properties for Sale
$148,000
MLS 2281327
3641 Mill Run #0
Raleigh, NC 27612
Wade
Condo/Coop
2 beds2 baths801 sq.ft.
CAP RATE
Trad. 2.96%Airbnb 7.48%
Investment Properties for Sale
$189,000
MLS 2283894
4505 Edwards Mill Road #G
Raleigh, NC 27612
Glenwood
Condo/Coop
3 beds2 baths1,448 sq.ft.
CAP RATE
Trad. 5.39%Airbnb 7.27%
Investment Properties for Sale
$469,000
MLS 2274601
625 Delany Drive
Raleigh, NC 27610
North Central
Single Family Residential
4 beds3 baths3,095 sq.ft.
CAP RATE
Trad. 2.26%Airbnb 7.07%
Recently Sold Homes in Raleigh, NC
Investment Properties for Sale
$550,000
MLS 2280441
500 W Park Drive
Raleigh, NC 27605
Hillsborough
Multi Family
0 beds0 baths2,254 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$299,900
MLS 2286945
36 Heart Pine Drive
Raleigh, NC 27591
West Raleigh
Single Family Residential
3 beds3 baths2,343 sq.ft.
CAP RATE
Trad. 1.23%Airbnb 0.02%
Investment Properties for Sale
$244,900
MLS 2281930
138 Heart Pine Drive
Raleigh, NC 27591
West Raleigh
Single Family Residential
3 beds3 baths1,912 sq.ft.
CAP RATE
Trad. 1.92%Airbnb 0.44%
Investment Properties for Sale
$324,900
MLS 2281645
174 Heart Pine Drive
Raleigh, NC 27591
West Raleigh
Single Family Residential
3 beds3 baths2,579 sq.ft.
CAP RATE
Trad. 0.99%Airbnb -0.12%
Property Value Changes and Real Estate Appreciation in the Raleigh Housing Market

Real estate appreciation in the Raleigh real estate market is tangible as property values have risen by 70.82% since Q1 of 2000, which is an average annual home appreciation rate of 2.82% according to NeighborhoodScout. Property value is still climbing in the Raleigh housing market as Zillow reports an appreciation of 6.2% over the past year. This housing market trend is expected to continue, which makes Raleigh a hot seller’s market with large opportunities for long-term return on investment. 


There is a limited number of homes for sale on the market, while demand from homebuyers and real estate investors continues to rise as the population grows. This shortage of housing supply is what contributes to the high real estate appreciation that a Raleigh real estate investor will enjoy.

Raleigh, NC Top Multi Family Homes
Investment Properties for Sale
$749,900
MLS 2287488
2701 & 2703 Ashland Street
Raleigh, NC 27608
Glenwood
Multi Family
0 beds0 baths2,634 sq.ft.
CAP RATE
Trad. 2.15%Airbnb N/A
Investment Properties for Sale
$300,000
MLS 2287297
1909 Peach Creek Court
Raleigh, NC 27603
Southwest Raleigh
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. 0.80%Airbnb N/A
Investment Properties for Sale
$535,000
MLS 2276382
3809 Virginia Street
Raleigh, NC 27610
East Raleigh
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. 0.56%Airbnb N/A
Investment Properties for Sale
$450,000
MLS 2264650
315 E Whitaker Mill Road
Raleigh, NC 27608
Five Points
Multi Family
0 beds0 baths1,592 sq.ft.
CAP RATE
Trad. 0.50%Airbnb N/A
Homes Below Median Price in the Raleigh, NC Real Estate Market
Investment Properties for Sale
$525,000
MLS 2288736
665 Fallon Grove Way
Raleigh, NC 27608
Five Points
Townhouse
4 beds4 baths2,640 sq.ft.
CAP RATE
Trad. 2.50%Airbnb 7.98%
Investment Properties for Sale
$148,000
MLS 2281327
3641 Mill Run #0
Raleigh, NC 27612
Wade
Condo/Coop
2 beds2 baths801 sq.ft.
CAP RATE
Trad. 2.96%Airbnb 7.48%
Investment Properties for Sale
$189,000
MLS 2283894
4505 Edwards Mill Road #G
Raleigh, NC 27612
Glenwood
Condo/Coop
3 beds2 baths1,448 sq.ft.
CAP RATE
Trad. 5.39%Airbnb 7.27%
Investment Properties for Sale
$469,000
MLS 2274601
625 Delany Drive
Raleigh, NC 27610
North Central
Single Family Residential
4 beds3 baths3,095 sq.ft.
CAP RATE
Trad. 2.26%Airbnb 7.07%
Raleigh Airbnb Growth and Regulations

The short-term rental industry in Raleigh has thrived in recent years. Millions of visitors flock to the city each year as it is an attractive destination to host conventions, sporting events, and business gatherings. In the past year, nearly 143,000 Airbnb guests stayed in short-term rental properties in the Triangle area, bringing a total revenue of $18 million to the local Airbnb hosts. This means the average Airbnb Raleigh host earns about $6,000 per year. 

In May 2019, the Raleigh city council passed a short-term rental ordinance that places tight restrictions on short-term rentals but it will go into effect starting January 2020.  Under the ordinance, homeowners can only rent out up to two guest rooms in their homes, but not their entire home. They must also be living on the property while renting it out. This effectively outlaws the use of non-owner occupied vacation rentals. The new law also limits hosts to only two adult guests and their minor children staying in the house at a time. 

Raleigh Airbnb hosts must register with the city and pay a short-term rental permit fee of $172 (the annual fee for permit renewal is $86). They must also inform all the neighbors living within 100 feet of the property that they are seeking a rental permit. Violation of any of these terms could cost homeowners up to $500 in fines per day.

Raleigh, NC Top Airbnb Homes
Raleigh Airbnb
$62 per night
Entire home/apt · 1 bed
Delightful Downtown Carriage House
482
Raleigh Airbnb
$72 per night
Entire home/apt · 1 bed
Perfect Raleigh Location!
433
Raleigh Airbnb
$64 per night
Raleigh Airbnb
$108 per night
Raleigh, NC Homes for Rent
Investment Properties for Sale
$2,000
MLS 2288623
700 Sasser Street #A
Raleigh, NC
North Central
Other
2 beds2 baths1,100 sq.ft.
Investment Properties for Sale
$1,200
MLS 2288625
Investment Properties for Sale
$1,100
MLS 2288679
719 Benchmark Drive
Raleigh, NC
Six Forks
Townhouse
2 beds3 baths1,200 sq.ft.
Investment Properties for Sale
$1,645
MLS 2288562
7936 Dukes Dynasty Drive
Raleigh, NC
North Raleigh
Townhouse
3 beds4 baths1,850 sq.ft.
Raleigh, NC Open Houses
Investment Properties for Sale
Open 12 PM to 4 PM
$424,900
MLS 2288806
714 Glascock Street
Raleigh, NC 27604
North Central
Single Family Residential
3 beds2 baths1,572 sq.ft.
CAP RATE
Trad. 2.56%Airbnb 3.30%
Investment Properties for Sale
Open 2 PM to 4 PM
$775,000
MLS 2288099
1805 Sunset Drive
Raleigh, NC 27608
Five Points
Single Family Residential
4 beds3 baths3,600 sq.ft.
CAP RATE
Trad. 0.91%Airbnb 4.62%
Investment Properties for Sale
Open 2 PM to 4 PM
$739,900
MLS 2287798
1226 Currituck Drive
Raleigh, NC 27609
Six Forks
Single Family Residential
3 beds3 baths2,354 sq.ft.
CAP RATE
Trad. -0.30%Airbnb 1.66%
Investment Properties for Sale
Open 2 PM to 4 PM
$450,000
MLS 2284564
806 Faircloth Street
Raleigh, NC 27607
Wade
Single Family Residential
3 beds2 baths1,680 sq.ft.
CAP RATE
Trad. 1.39%Airbnb 2.82%
Best Raleigh Neighborhoods for Buying Investment Property
67%
Mashmeter
property price
$409,900
Median
cap rate
5.73%
Traditional
8.50%
Airbnb
rental income
$1,956
Traditional
$2,903
Airbnb
homes for sale
36
occupancy rate
63%
Airbnb
69%
Mashmeter
property price
$524,800
Median
cap rate
4.28%
Traditional
6.63%
Airbnb
rental income
$1,870
Traditional
$2,901
Airbnb
homes for sale
30
occupancy rate
59%
Airbnb
69%
Mashmeter
property price
$415,000
Median
cap rate
4.89%
Traditional
9.00%
Airbnb
rental income
$1,691
Traditional
$3,114
Airbnb
homes for sale
17
occupancy rate
63%
Airbnb
76%
Mashmeter
property price
$357,000
Median
cap rate
3.73%
Traditional
9.69%
Airbnb
rental income
$1,109
Traditional
$2,883
Airbnb
homes for sale
32
occupancy rate
61%
Airbnb
68%
Mashmeter
property price
$699,950
Median
cap rate
3.02%
Traditional
6.01%
Airbnb
rental income
$1,759
Traditional
$3,504
Airbnb
homes for sale
31
occupancy rate
70%
Airbnb