Are you looking to invest in real estate in Raleigh? There are several quality suburban neighborhoods located in and around Raleigh!
Raleigh has a hot real estate market. Its high growth is predicted by real estate industry experts to be continuous. It’s expected that more than 50,000 will be moving here within the next 5 years. This presents a bright opportunity for property investors.
Employment is strong in Raleigh since it’s considered a tech and STEM hub. It also attracts college students since it’s near to elite universities such as the University of North Carolina, Duke University, North Carolina State University, and Davidson University. Thus, you can target both the professional and student demographic for your rental properties.
In this article, we here at KRS Property Management will review the best neighborhoods around downtown Raleigh that you could weigh as your next property investment. You’ll be more knowledgeable about the neighborhoods that are considered profitable for real estate investors in this part of North Carolina.
Best Neighborhoods in Raleigh to Buy Real Estate
The following are some of the best Raleigh neighborhoods. These areas can offer locals access to the nearby schools, tree-lined streets, convenient access to local amenities and outdoor recreation spots, and the benefits of suburban living.
Downtown South
Investors will find plenty of opportunities when choosing to capitalize in Downtown Raleigh. There’s increased progress in this suburban neighborhood.
Specifically, a 140-acre is currently being developed as a mixed-use community designed to be an entertainment district with coffee shops, restaurants, shopping centers, parks, and other local amenities in the center of a huge soccer stadium. Several housing, hotels, retail, and office spaces are also being built.
You may opt to put up rentals in this trendy Raleigh neighborhood that cater to people who will want to live in an area near an entertainment hub. You can also choose to invest in the housing communities that are presently being constructed in the Downtown South area for young professionals and families looking to move here.
Holly Springs
This historic Raleigh neighborhood is predicted to be at the seat of development as the future route of the 540 is set to be finished. If you choose to invest now, there’s a vast potential that your investment will gain massive returns. The reason is that this area still has wide land that developers and builders can use to create apartments and other real estate infrastructure.
In fact, Amgen, a pharmaceutical company, is putting up a multi-million manufacturing facility in the neighborhood of Holly Springs. This would attract more people to move to this neighborhood. With the increase in job opportunities, more people will be looking for housing in Holly Springs. Real estate investors can capitalize on this expected influx of new residents to this historic district.
Another biopharmaceutical firm, Fujifilm Diosynth Biotechnologies is planning to erect a multi-billion manufacturing plant leading to more job creation.
This will undoubtedly mount more demand for rental housing in the neighborhood as more young professionals, students, and young families will be looking to relocate to this area. When there are opportunities for steady employment, you’ll have long-term renters continuing to stay in the historic neighborhood.
Fuquay- Varina
Another fast-growing neighborhood is Fuquay-Varina where real estate investors can maximize its convenient location and access to local amenities. It’s near the famed Research Triangle Park. It’s also a great zone for firms where several property options are affordable.
As an investor, you can opt to purchase commercial properties and aim for businesses looking to expand in the neighborhood of Fuquay-Varina. It costs less to operate their business here and the infrastructure is also solid. This makes this Raleigh neighborhood highly attractive to entrepreneurs.
Durham
Situated in the northwest area of downtown Raleigh, the neighborhood of Durham is showing great promise to property investors. The trend of more people relocating from bigger cities has made this neighborhood a potential hit for this market.
One can observe the gentrification occurring in Durham’s downtown historic neighborhoods. This neighborhood offers plenty of advantages and has its own culture leading to a more diverse community.
Plenty of top tech companies such as Google are leading the pack in transforming Durham to become more progressive. It has plans to create a hub that will give rise to more than a thousand jobs.
As a property investor, you can choose to stay ahead and purchase investment units which are bound to become more costly when more developments are completed in Durham. You can aim to design single-family homes and condos that attract the young professional set working in the tech hub industry in the Durham/ Raleigh community.
Clayton
Located southeast, is another one of the best neighborhoods in Raleigh. The neighborhood of Clayton has welcomed more than 5x the number of residents in 2 decades. Before, it used to be known solely for its agricultural history.
However, there have been developments in the neighborhood with several new construction sites in preparation for the new 540 route. Clayton is predicted to have a lot of growth shortly.
Property investors can still purchase single-family homes and convert them into rental homes that have excellent rental prices. On average, they can rent out a single-family home at $1,800 each month.
Knightdale
Knightdale is located east of downtown. It’s a good base for those who work in other places but want to live in Raleigh. Development plans are also underway in Knightdale. Investors are purchasing properties in the neighborhood.
With Knightdale’s charming vibe and diverse communities, it’s become a focus for top companies to embrace the workforce diversity and inclusion easily found here.
It’s a desirable neighborhood to live in for new residents who want to be in Raleigh in just 10 minutes. The culture in Knightdale is found to be youthful and vibrant. It’s a town that encourages a strong entrepreneurial spirit. Thus, attracting business-minded individuals to set up their creative commercial enterprises here.
The Best Neighborhoods in Raleigh, NC in a Nutshell
These are some of the best neighborhoods in Raleigh, NC which is why the community is hugely preferred by smart investors. The reason is downtown Raleigh and its surrounding areas offer a high quality of living to locals. Moreover, thanks to its future development, it will give rise to more solid employment.
It’s set to attract more inhabitants to the area with the planned progress seen here. This gives property investors plenty of opportunities to start rental homes that will soon be in high demand due to the jobs that are set to be available.
If you are looking to purchase Raleigh real estate, you may want to consider Downtown South, Holly Springs, Fuquay-Varina, Durham, Clayton, and Knightdale.
Don’t hesitate to contact us here at KRS Property Management today if you have questions about investment opportunities in Raleigh, NC!