LIVE, WORK, PLAY
In the Triangle
by CBRE
January 2022
LIVE
Population Growth
2.1 Million
2.1 million Triangle total population
Wake County & Durham County
2.13 and 1.80
County Annual Population Growth
Market Accolades
#2 Top Places to Live in the United States
#4 City for Best Quality of Life
#3 Fastest Growing U.S. Metro
#5 Most Affordable Metro
#3 Most Resilient Tech Hubs
#7 City Where Millennials are Moving
#4 Top Mid-Sized Americas City of the Future
#7 Best Place to Start a Business
Universities
The Triangle is home to numerous universities and colleges. Below is a sample of the major institutions in our market.
Student Enrollment
NC State Apple
UNC Apple
Duke Apple
NCCU Apple
Wake Tech Apple
Residential Stats & Apartment Leasing (Triangle Wide)
Raleigh ranked third hottest real estate market in the U.S. in 2022
Apartment
130,795 Total Multifamily Units
967 sq ft average unit size
2004 average year built
536 total properties
Effective rent increased
Annual rent growth rate
Raleigh-Durham ranked 7th out of 150 markets
95.3% 2020 Occupancy Increase
94.4% Raleigh-Durham's occupancy rate
4,670 apartments units scheduled for delivery
Houses
disclaimer
WORK
Job Announcements
New Jobs
Corporate Growth Announcements
Announcements Graphic
Examples of Major Announcements
Announcements Numbers
Announcements Numbers
Announcements Numbers
Comparative Cost Per Square Feet for Office Space
Downtown Class A Office Market Comparison (Q3 2021)
$34.56 Downtown Raleigh
$35.06 Atlanta
$32.76 Nashville
Desk
$48.33 Seattle
$34.64 Downtown Durham
$37.57 Charlotte
$56.83 Austin
Life Sciences
Life Sciences Lab
5th largest U.S. life sciences market
9.8 M sq ft
350,000 sq ft
#12 school nationwide
6M sq ft
#14 school nationwide
1.5M sq ft
Tech
10th High Tech/Software Services Job Growth Rate
11th Highest tech labor pool growth rate
#2 Overall Net absorption growth
#5 Educational Attainment
#10 Market with Concentration of Tech Talent Jobs
11% Millenial Population growth in the past 5 years
Tech Image
Office SubLease Inventory
Coworking
2.8 M sq ft
4.8%
5%
Under Construction
Construction Image
Overall
2,500,000 SF Office
3,400,000 SF Industrial
500,000 SF Retail
PLAY
Top Places
that didn't exist 2 years ago
Smoky Hollow
Durham Food Hall
Perry's Steakhouse & Grille
Bloc 83
New Places
to be on the lookout for in the Triangle
Seaboard Station
Raleigh Iron Works
Top Golf
Horseshoe & Hub RTP
Raleigh Crossing
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 2022 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.