North Carolina Real Estate Growing Fast in 2022

If you thought North Carolina was getting a bit more crowded these days, you’re right. Between 2010 and 2020, the state’s population grew by 9.5%, outpacing the average growth rate of the U.S. by 2.1%. This might not seem like a significant percentage, but when you add approximately one million people in 10 years to a city, it really makes a difference. From Rolesville to Wake Forest to Raleigh, the state’s cities are expanding quickly. Pittsboro agent Eric Andrews released this video which explains why even rural areas such as Pittsboro, NC are rapidly expanding.

Affordable Cost of Living

A main driver of the population growth in North Carolina cities is the affordable cost of living. When compared to other states, the cost of rent in most North Carolina cities is low, as are the costs of everyday expenses. Homeowners and renters in North Carolina can get more property for their buck than they can just about anywhere else. With average monthly rents soaring in cities like New York, San Diego, Austin, and Memphis, it’s no wonder people are flocking to the Tar Heel State. 

A Hot Job Market

Along with the influx of people into North Carolina, businesses are choosing the state as well. Tech companies are either expanding their national footprint by opening offices in North Carolina or they’re choosing to establish their headquarters there. In fact, the “Triangle” area of the state has been dubbed the “Silicon Valley of the East Coast” as more and more tech and biotech companies move in. Some examples of these companies include IBM’s Watson artificial intelligence program, Cisco, Citrix, Redhat, and many more. Where there are jobs, there will be more people, and it becomes a perpetual cycle of growth. This is exactly what’s happening throughout the state.

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Culture is Everywhere

Museums, restaurants, musical venues, and other cultural facilities are springing up everywhere in North Carolina. You’ll find the North Carolina Museum of Art in Raleigh, the Museum of Life and Science in Durham, the Ackland Art Museum in Chapel Hill, and the NASCAR Hall of Fame in Charlotte, among dozens of other museums. National dining magazine Zagat rated Raleigh in the top 15 cities for dining (it came in at number 12 overall), and there are delicious options in every major city statewide. And if you’re looking for live music, Asheville has emerged as one of the country’s top music hubs, with amazing clubs like Orange Peel, the Grey Eagle, Jack of the Wood, the Mothlight and more.

The Great Outdoors is Really Great

No matter where you are in North Carolina, you’re only a few minutes or couple of hours away from nature. It’s one of the few states that features both mountains and beaches, so no matter what type of natural experience you’re looking for, North Carolina delivers. With 34 state parks and four state recreation areas, you’ll always have someplace to go when you want to get out of the city for a weekend or longer.

Conclusion

There’s little doubt why North Carolina is experiencing a population boom. Between the availability of jobs, the affordable cost of living, the vibrant cultural scene, and the abundant outdoor recreation, it’s the ideal relocation choice for people everywhere.