Housing Report for Raleigh-Cary

In the State of North Carolina, Raleigh-Cary ranks 2 of the 14 metro areas by percentage growth in residential real estate. The metro area is positioned 20 of 361, compared to percent change of residential structures in other metropolitan areas throughout the United States.

Raleigh-Cary can be understood as having a medium proportion of high-valued homes. For the year 2005, the American Community Survey accounted that 4.5 percent of the houses were valued over a half a million dollars.

In Raleigh-Cary, there were a total of 395,806 homes in the year 2005. This MSA has gone through a medium-high growth level in the number housing units, adding in all 48,980 housing units since the year 2001, or 14.1 percent.

It can be understood that there is a fair amount of affordable housing in Raleigh-Cary, North Carolina. In 2005, 28.1 percent of owner-occupied dwellings were valued under $125k.

Raleigh-Cary had a median home value in the year 2005 of $170,000, according to the American Community Survey. This is greater than the State of North Carolina 2005 median owner-occupied dwelling value of $127,600 and greater than median home value of $167,500 across the United States during the same year.



Data Source: U.S. Census Bureau

Employment Report for Raleigh, North Carolina -- Annual 2005 Industry Summary

In Raleigh, Retail Trade, Accommodation and food services, and the Health care and social assistance industries have the largest percent of jobs of all industries. The Retail Trade provides the most jobs and contributes 14.8 percent of total employment in the Metro Area, making up 54,908 jobs. The Accommodation and food services and Health care and social assistance industries make up 9.8 and 9.6 percent of industry employment.

A high-wage industry in Raleigh is the information industry with an average annual wage of $65,681. Locally, since the year 2001, the industry annual average wages have grown by 13.7 percent or $7,925. The State of North Carolina shows a similar economic condition in the information sector, placing near the top of industries in term of the average annual pay of 2004.

In Raleigh, Information, Construction and Administrative and waste services industries have the highest United States location quotient (LQ). The Information industry has an LQ of 1.68. The level of employment in the Information industry is 1.68 times greater than the national average, signifying that Raleigh may specialize, or be an exporter of Information.

Utilities is the industry with the largest establishments in Raleigh MSA, with the industry averaging 87 employees per business. This is greater than the industry's national average of 34 and greater than the North Carolina typical size of 37 for the Utilities industry.

Real estate and rental and leasing has had the highest level of job growth from 2001-2005 in Raleigh, moving a total of 12.6 percent. This is greater than the industry employment change in the United States of 4.3 percent. The State of North Carolina faced a industry job change of 5.1 percent, in the recent period of 2001-2005.

Manufacturing saw the largest loss of employment between the years 2001-2005 in the Raleigh MSA. The sector faced a loss of 5,733 total jobs during the period, accounting for 15.6 percent of employment in the sector. These losses made up 81.5 percent of the total loss in employment during the period.





Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).