Downtown Raleihg by Money Magazine

According to a new study by Apartment List, 59.4% of Raleigh metro renters choose to move to the Raleigh metro for the job, making it #2 metro in the nation for job-first movers.

Growing job market with large technology companies, start-ups and job opportunities in science and academia make the Research Triangle surrounding Raleigh appealing to new Science, Technology, Engineering and Mathematic (STEM) grads. Combined with relatively low housing prices, the Triangle is the next go-to destination for tech workers around the nation. Despite rapidly increasing rent prices, Raleigh, Durham and Chapel Hill are still more affordable than most tech centers.

Location Vs Jobs

According to the study, only 25% of Raleigh metro renters are plan on settling down in the area long-term. Fewer Raleigh renters plan on putting down roots in their current metro compared to the national average. There are indications that this number might change in future as more tech workers get pushed out of older tech hubs looking at new tech centers as their potential long-term destinations. While most large metros are seeing rental prices rise, Raleigh, Durham and Chapel Hill are still more affordable than most of them, which could encourage more tech workers consider settling down in the Triangle Area. For reference, only 23.9% renters plan on putting down roots in San Francisco.

Plans for Settling Graph

Job-First Movers in tech hubs:

  •        San Jose – 75%
  •        Raleigh – 59.4%
  •        Denver - 49.3%
  •        San Francisco – 42.6%
  •        Austin – 41.2%
  • % of renters that plan on settling down in tech hubs:
  •       Denver - 45.3%
  •        Austin – 41.2%
  •        San Jose – 35.3%
  •        Raleigh – 25%
  •        San Francisco – 23.9%
Posted by Larry Tollen on
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