The Triangle is Booming – Forbes Touts Raleigh

by fmrealty on August 8, 2011

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According to Forbes, Raleigh is the place to be! We couldn’t agree more. Our capital city was ranked number two on Forbes’ list of “The Next Big Boom Towns in the U.S” as well as on their list of “America’s Best Cities for Young Professionals.

To determine the next boom towns, Forbes ranked the largest US metro areas based on job growth, rates of family formation, growth in educated migration, population growth, and general attractiveness as places to settle, make money and start business. Raleigh came out as an economic superstar and one of the cities best positioned to grow and prosper in the coming decade.

Raleigh skyline

Image courtesy of RobertJPhotos on Flickr

“The area is a magnet for technology companies fleeing the more expensive, congested and highly regulated northeast corridor,” Forbes’ Joel Kotkin writes. “Affordable housing and short commute times are no doubt highly attractive to recent college graduates and millennials looking to start families.”

Adults ages 24 to 34 are flocking to the Raleigh for top-notch young professional opportunities. Forbes ranked Raleigh the number two best city for young professionals after looking at local unemployment rates, job growth projections, the number of small businesses and large businesses, the median salaries, a cost-of living index, and the percentage of the population aged 25 and older with college degrees in the area. They studied a number of cites and found that Raleigh has the fourth best job growth outlook and is the best educated city with more that 42 percent of the population holding BA degrees.

With all these accolades it’s no wonder our real estate market is expected to also see growth.  Mark Parker, Vice President and Sales Manager with our Stonehenge office remarks -

The Triangle area constantly ranks high on many different national list of Best Places.  These accolades have a direct impact on our local real estate market because these lists reaffirm how great a place we live in which, in turn, encourages people to want to relocate here to live and work.  Businesses also take note of all these accolades and recognize how strong our local community is for many different reasons, again encouraging growth and commerce in our area.

We love the Raleigh area, so we aren’t surprised to see this Research Triangle hot-spot topping the list. What is your favorite quality about Raleigh? Why did you move to this booming city?

 

Joel Kotkin quote taken from – http://www.forbes.com/pictures/edgl45fkm/no-2-raleigh-n-c-2

Image courtesy of RobertJPhotos on Flickr

{ 1 comment… read it below or add one }

Carolyn Wolf August 8, 2011 at 6:14 pm

Just what my clients want to hear. My sellers, too!

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