This City is Drawing People From Florida, Virginia and New York
North Carolina’s capital was recently named a top city for first-time home buyers.
Some relocators are willing to endure a slightly higher cost of living if it means better job opportunities and higher-quality public schools, according to a new report from PlacerAI on East Coast migration hubs.
PlacerAI data show that the Raleigh-Cary CBSA is a particularly good fit for young families, with favorable housing prospects, a thriving job market, and good public schools.
Raleigh received an “A-” grade for its “Fit for Families,” compared to the “B-” score on that metric for the areas of migration origins.
Add the fact that Raleigh-Cary demonstrates a relatively high level of diversity in its population and these advantages can attract those from less affluent areas willing to trade in their current lower-cost area in favor of a better quality of life in Raleigh-Cary.
Raleigh, North Carolina’s capital, was recently named a top city for first-time homebuyers, according to PlacerAI.
“It seems particularly attractive to millennial movers looking to settle down,” according to the report.
Cary is part of Raleigh’s submarket, and it ranks high among Millennial newcomers, PlacerAI said.
Between August 2019 and August 2023, the area drew the most from Florida, South Carolina, and Virginia. Georgia and New York were also major feeders.
In the case of North Carolina, the search for more affordable pastures could explain some of the migration from Florida, Virginia, Georgia, and New York.