Triangle Market Stats: 2021

History proves the Triangle of North Carolina to be a significantly stable market. It has weathered many economic storms and prevailed! This could largely be due to its industry mix with hospitals, universities, tech companies, and general desirability. But, if you want to look at data, there are several statistics that indicate the strength of a market. To name a few:


  • Population Growth

  • Median Household Income

  • Job Growth

  • Job Diversity

  • Home Sales

  • Rent Growth

  • Crime Rates


As we wave goodbye to 2021, let's stop to look at some indicators of Raleigh, Durham, Apex, Cary and Wake Forest markets up to this point. We will review population, job, and income changes 9-19 years. We'll also compare 2020 and 2021 average home sale prices. Lastly, you'll learn about the top performing neighborhoods for sales in those specific markets.

*These statistics are based on the most recent data at the time this article was written, some are estimates.




2021 Stats in Durham-Chapel Hill


Job Growth (9 years of data): +2.33% average annual growth

Population Growth (9 years of data): +1.58% average annual growth

Median Household Income (over the past 19 years): +3.12% average annual growth

Average Durham Home Price end of 2020:$299,613

Average Durham Home Price, end of 2021:$393,000

Average Chapel Hill Home Price end of 2020:$425,516

Average Chapel Hill Home Price, end of 2021:$530,000

Top selling neighborhoods in Durham: Hope Valley Farms, Woodcroft, Brightleaf, Parkwood

Top selling neighborhoods in Chapel Hill: Briar Chapel, Governors Club, and The Preserve at Jordan Lake




2021 Stats in Raleigh


Job Growth (over the past 10 years): +3.42% average annual growth

Population Growth (over the past 9 years): +2.56% average annual growth

Median Household Income (over the past 19 years): +2.57% average annual growth

Average Home Price end of 2020:$428,469

Average Home Price, end of 2021:$501,835

Top selling neighborhoods in Raleigh:Wakefield, Hedingham, Harrington Grove, and Stonehenge




2021 Stats in Cary

Population (estimated 2021): 177,222


Median Household Income (over the past 19 years): +2.18% average annual growth

Average Home Price end of 2020:$491,972

Average Home Price, end of 2021:$639,659

Top selling neighborhoods in Cary:Carolina Preserve, Lochmere, Preston, Cary Park, and Amberly




2021 Stats in Apex

Population (2021 estimated): 70,182


Median Household Income (over the past 19 years): +3.36% average annual growth

Average Home Price end of 2020:$422,308

Average Home Price, end of 2021:$579,269

Top selling neighborhoods in Apex: Bella Casa, The Park At West Lake, Woodcreek, and Scotts Mill




2021 Stats in Wake Forest

Population (2021 estimated): 48,841


Median Household Income (over the past 19 years): +4.43% average annual growth

Average Home Price end of 2020:$446,264

Average Home Price, end of 2021:$502,718

Top selling neighborhoods in Wake Forest:Heritage, Hasentree, Stonegate, Austin Creek


Local real estate is typically tied closely to its economy so when investors analyze a market, most look for at least 2% average annual growth over a long period of time. As you can see, the areas of the Triangle listed above meet that metric. And did you see the change in home prices? What a significant increase since 2020! With lagging inventory and high demand, experts see them stabilizing or continuing to rise in the coming years.


Happy Hunting!

The Brecken & Oaks Team


Sources for this article: Triangle MLS, and Census.gov and BLS.gov and City Data


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