Raleigh Multifamily Market Report

Job growth and in-migration fuel robust leasing. Raleigh-Durham continues to see steady job creation and solid demographic momentum. Alongside ongoing expansion in the tech sector, the metro is seeing rising activity in finance and life sciences, driven by new employers like Fidelity Investments and Novo Nordisk. Population growth reached 2.6 percent in 2024, triple the national average, and household formation rose 3.4 percent — the second highest among major U.S. metros. These trends are poised to continue, albeit at a moderating pace. Combined with development set to slow substantially this year, the outlook for multifamily performance is positive.