LIVE, WORK, PLAY
In the Triangle
by CBRE
November 2020
LIVE
Population Growth
2,072,916
2,072,916 Triangle total population
1.99% annual population growth over the past 10 years
1.91% projected annual population growth over the next 5 years
Wake County
67 people are added to the population per day, 20 are born here per day
47 move here per day
Durham County
16 people are added to the population per day, 6 are born here per day
10 move here per day
Market Accolades
#1 Best City for Jobs in 2020
#2 Best State Capital
#4 US City for Veterans
#4 Best Real Estate Housing Market to Invest in
#5 Largest Life Sciences Market
#10 Top Tech Talent
Top 10 City Best Positioned to Recover from the Coronavirus
#10 Top Hottest Zip Code
Top 15 Most Educated
Top 25 Best Places to Retire
Residential Stats
Comparison from September 2019 to September 2020
+6.6% Change in New Listings
+2.74% Change in Closed Sales
+8.5% Change in Median Sales Price
Houses
Apartment Leasing
Apartment
140,000 Existing Units in Triangle
$1,179 Average Starting Rents
WORK
Comparative Cost Per Square Feet for Office Space
CBD Class A Office Market Comparison (Q2 2020)
$33.44 Raleigh
$34.62 Atlanta
$53.89 Seattle
Desk
$33.97 Nashville
$38.39 Charlotte
$56.50 Austin
Life Sciences
Life Sciences Lab
5th largest U.S. life sciences market
Beaker top
5.2% Life Sciences employment growth between 2019 & 2020
3.1% local lab vacancy declined in the past 18 months
4.2% the overall U.S. growth rate for Life Sciences employment
Tech
10th best market for tech talent in North America
7th best market for Educational Attainment
3,830 Tech Degree graduates in 2019
67,660 total tech employees in 2019
15.6% Millennial Population growth in the past 5 years
Tech Image
Under Construction
Construction Image
Overall
3,724,432 SF Office
1,987,267 SF Industrial
527,616 SF Retail
PLAY
Top Places
that didn't exist 2 years ago
University Hill
Publix at Smoky Hollow
Longleaf Hotel
New Places
to be on the lookout for in the Triangle
Carolina Yards
T3 American Tobacco
Fenton
Seaboard Station
City Image

For more information, please reach out to
CBRE|Raleigh at 919.831.8200 or at www.cbre.us/raleigh

CBRE | Raleigh is the leading commercial real estate services provider in the Triangle market. As a part of the world’s premier, full-service real estate services company, our industry-leading platform provides unparalleled service to meet any client requirement from acquisition financing, investment sales, real estate portfolio management, property management, land representation services, to leasing commercial office, industrial and retail space.

© Copyright 2020 CB Richard Ellis-Raleigh, LLC, a Delaware limited liability company. Information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to confirm independently its accuracy and completeness. This information is presented exclusively for use by CB Richard Ellis-Raleigh, LLC, a Delaware limited liability company, clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of the CB Richard Ellis-Raleigh, LLC, a Delaware limited liability company, or CBRE Global Chief Economist.