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Raleigh Opportunities Draw Thousands of Students and Job-Seekers, Apartment Construction Slows

The Triangle region will support tight vacancy with robust renter demand this year as the metroplex features one of the strongest job markets nationally, and multifamily construction eases considerably from recent peak levels. Every year the area draws thousands of new residents, especially young people who are interested in the many prestigious local universities or seeking employment within the sprawling Research Triangle Park. The metroplex is home to 14 different colleges and universities, including the three top tier institutions for which the region is dubbed the ‘Triangle’, with over 100,000 enrolled students. Within the Research Triangle Park, as established tech companies such as Cisco and HCL expand, new innovators including Silicon Valley’s WalkMe are also setting shop. Professional and business services, education and health services, and the leisure and hospitality sectors will drive above-average payroll growth again this year, building on the 19,000 cumulative positions the sectors generated last year. While apartment developers have clustered in a few neighborhoods such as Central Raleigh, competing with single-family homes, a decline in new construction this year will boost single-family rentals[…]


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