(Note: data obtained from https://worldpopulationreview.com)

Suburbs of Raleigh NC Population Data

Cary NC has long been the premiere suburb of Raleigh NC and it’s in the perfect location, situated right next to Raleigh NC, the Research Triangle Park, and Durham NC.  

With 187k people, it’s by far Raleigh NC’s largest suburb both by size and population, and beyond just its’ great location, Cary has an incredible park system, great restaurants, and a quant downtown (Note: data obtained from https://worldpopulationreview.com)

Apex NC is also in an amazing location being just under Cary NC, leading it to be the second most populated suburb.  It has an amazing park system with a really cool historic downtown.

Wake Forest NC has really sprung its’ population over the past 10-15 years and is popular for its’ park system, its’ proximity to Falls Lake, and for being just above the amenities of North Raleigh.

Holly Springs and Fuquay-Varina are two towns that have also really increased in popularity over the past 10 years.  Holly Springs NC is going to have a newer feel with its’ parks, downtown, and shopping centers, while Fuquay-Varina NC has a historic downtown and is more rural feeling overall.

Morrisville NC is a small, but dense suburb sandwiched in between Raleigh NC, Cary and Durham, and feels very similar to Cary.  It’s great location has obviously contributed to its’ rising popularity.

Garner NC is south of Raleigh NC and is in a great location commute wise, but hasn’t seen the growth and development of other suburbs quite yet.

Clayton NC has seen a lot of growth recently as it has great schools and you get great value for your money right now in the housing market.  

Knightdale NC is an older suburb that’s growth has been fairly stagnant as of late, but is known to be very affordable.

Wendell NC and Zebulon NC are two up and coming suburbs that are also more affordable, but rural options.

And Rolesville NC is a small suburb located right next to Wake Forest that doesn’t have a lot of its’ own yet, so many people travel into Wake Forest for entertainment, but it has big plans for the future. 

So, a few things stand out to me from the numbers.  Cary NC’s growth rate is one of the lowest on the list percentage wise; however, you’ll notice it’s still adding the second most people annually due to its’ large population.

Cary NC is beginning to run out of space, and you’ll notice much of its development is on the western edge of town.  There is also quite a few developments that are technically outside Cary NC’s town limits, but still considered Cary NC, that are not counted in these numbers.

Apex NC is continuing its’ blistering pace and is starting to grow upwards with apartments and condos, as are Wake Forest NC and Holly Springs NC.

Fuquay-Varina NC and Clayton NC continue to grow quickly as more budget friendly options, and the massive growth in Wendell and Zebulon are great for their smaller populations and signal good things ahead. 

                                               Data from Triangle MLS, Summer 2023

Suburbs of Raleigh NC Housing Market Data

Now, let’s take a look at the housing market in these suburbs of Raleigh NC, and I’m using a rolling average of this past summer’s data as it best represents what this upcoming year will look like for us. I’ll first sort the table by Sales Price.

Cary NC and Apex NC are naturally at the top, and Wake Forest NC and Holly Springs NC are up there too due to popularity as well as having a higher number of more expensive, new construction neighborhoods.

You’ll also notice Clayton NC and Morrisville NC near the bottom of the list, which is crazy for Morrisville NC because it’s in such a great location!  But watch when we sort by Price Per Square Foot.

                                              Data from Triangle MLS, Summer 2023

Morrisville NC jumps to near the top.  So, you can get a fairly inexpensive house in Morrisville NC, but it may not be as big.  Meanwhile, Clayton NC stays near the bottom, as you get a much bigger house for your money.

Cary NC and Apex NC are still very expensive, as you are paying for location and amenities, and Holly Springs NC, Wake Forest NC and others fall below Raleigh NC’s average price per square foot of around $230-240, depending upon the month.

                                             Data from Triangle MLS, Summer 2023

Suburbs of Raleigh NC Sellers Data

And lastly, let’s take a look at last summer’s days on market and the percent that the sellers received based on their original list price, which are both good measures of competition.  And note these are just resale homes, new construction is excluded in this dataset.

So, this data is a little surprising!  I expected to see Apex, Cary, and Morrisville at the top as competition has always been high there, but Wendell and Zebulon were a little unexpected to be that high.  Could be a result of lower inventory overall and a smaller sample size.

Also of note, is that Wake Forest and Clayton are way at the bottom of the list.  Again, this data is for resales, and in both of these areas, there is still quite a bit of new construction inventory around, which creates a lot of competition for resale homes and while the homes do sell, it takes a little longer.

                                      Data from Triangle MLS, Summer 2023

And, when looking at percent of original list price received, Cary NC, Apex NC, and Morrisville NC top the list, followed by Holly Springs and Fuquay-Varina.  All of those are on the west side of Raleigh NC, so it’s clear where people’s preferences currently lay. 

Suburbs of Raleigh NC 2024 Predictions

So what does all this data say for the suburbs of Raleigh NC in 2024 and beyond?

Well, Cary NC and Apex NC are going to continue to be Cary and Apex.  They are great places to live, and will continue to command high prices with high competition.  There will be more new construction opportunities on the western edges of town that are quite as convenient, but aren’t as competitive.

But, I believe the data is pointing to Holly Springs NC being the next of the suburbs of Raleigh NC to explode.  It’s already showing it in the competition data, the price per square foot, and the population growth, and the development map shows more commercial growth.

But, the biggest X factor is the recent completion of I-540.  That is going to reduce commutes into RTP and potential lighten Hwy 55 traffic to some degree, and greatly increase home values around it over the next 10 years.  

We saw that same thing happen in both north Raleigh NC, Cary NC and Apex NC, and it’s bound to happen in Holly Springs NC as well.  

Also, Wake Forest NC is another very popular location with really great neighborhoods and schools that draw a lot of families.  The numbers aren’t showing the rapid increase lately as much of its’ development seems to be luxury neighborhoods outside of town limits, but there are many townhomes and condos under construction, so I believe it will be on the rise again soon.

And, Clayton NC is poised to make the next big push as well, as its’ development map is full of new projects, and the Waterfront District just outside of Clayton in Flowers Planation is going to be a big draw.

If you want a more detailed breakdown of each of the suburbs of Raleigh NC, check out our suburbs page with multiple blogs and videos on each detailing both the pros and cons, best neighborhoods, and more so you can figure out which is the best fit for you.

Check out the best neighborhoods in Cary NC as well as the best neighborhoods in Wake Forest NC.

If you need any assistance finding your next home in any of these suburbs of Raleigh NC or the greater Raleigh NC area in general, please don’t hesitate to reach out!

Please reach out via our contact information below:

Phone:  919-504-5265

Email:  alison@thewgroupraleigh.com

Website:  www.thewgroupraleigh.com