Raleigh real estate market: population and job growth.
Raleigh is growing fast on both signals. The Raleigh, Cary MSA reached about 1.60 million residents in July 2025, up 2.4% over the year, with employment up 2.1%.
Raleigh, NC
Raleigh, Cary MSA
Source: U.S. Census Bureau Vintage 2025 estimates, March 2026; BLS metro employment, Sept 2026.
Wake Forest, NC
Wake County, part of the Raleigh MSA
The fastest population growth rate of any market we track. No city level employment series exists for Wake Forest; job growth tracks the Raleigh metro. S-Line grade separation and utility work is underway on Rogers Road within town limits.
Source: U.S. Census Bureau QuickFacts.
How Raleigh reads on our screens.
The metro ranked 10th nationally for percentage population growth, and job growth is keeping close pace. That combination is what our screens look for.
Infrastructure is following the growth. NCDOT is building the S-Line passenger rail corridor through Wake County, backed by a $1.09 billion federal grant, with active grade separation work extending into Wake Forest. Wake Forest itself has grown 21.1% since 2020, to about 58,100 residents, the fastest rate of any market we track.
What we would check next.
- Whether fast growing towns like Wake Forest are adding housing supply as fast as residents.
- How S-Line construction and station planning affect land near the corridor.
- Whether metro level job growth reaches the outer towns, which have no city level employment series of their own.
Related Field Notes:
See how the full process works in How We Underwrite, or compare Raleigh with the other metros on our Market Data page.
Raleigh, in plain numbers.
Is Raleigh growing?
Yes. The Raleigh, Cary MSA grew 2.4% year over year to about 1.60 million residents as of July 2025, and ranked 10th nationally for percentage population growth.
Is Raleigh adding jobs?
Yes. BLS metro employment through September 2026 shows jobs up 2.1% year over year.
How fast is Wake Forest, NC growing?
Wake Forest grew 21.1% between 2020 and July 2025, to about 58,100 residents, per U.S. Census Bureau QuickFacts.
Looking at a deal in Raleigh, or anywhere else?
Our Advisory practice runs this same market screen and underwriting review on your market or deal, starting with a Market Screening Engagement. If you would rather learn the framework yourself, see Dissonant University.
Figures reflect the most recent vintage available from each source as of September 2026 and will drift as new releases come out. This page is a reference, not investment advice, and nothing here is an offer to sell or a solicitation to buy any security.