By: Jordan Meadows
Staff Writer
North Carolina, especially the Raleigh metro area, is witnessing rapid population growth. Recent data from the U.S. Census Bureau reveals that The Triangle has seen one of the largest increases in retirement-age residents nationwide since the pandemic. The number of retirement-age residents has soared by 18.3 percent in Raleigh and over 15 percent in Durham since 2020, nearly doubling the national growth rate.
This rapid growth is putting pressure on services aimed at seniors, particularly in health care. This demographic shift is also influencing the real estate market, as some seniors sell their homes in pricier areas and relocate. Consequently, there’s a rising need for affordable housing for seniors, prompting Chapel Hill, Wake County, and Durham to increase the availability of affordable units for this age group.
Many retirees are attracted to the area due to its relative affordability and the availability of top-notch hospitals, such as those in the UNC Health system and Duke University. Additionally, the Triangle region boasts one of the highest doctor-to-resident ratios in the country. Orange County projects that its population of people aged 60 and older will expand by 43 percent by 2041 – double the number of residents aged 0-17.
North Carolina is also becoming increasingly diverse. In 2020, 39 percent of the state’s population were minorities. By 2050, these groups are projected to make up 48 percent of the population. Since many of these groups are younger, the state anticipates growth in the childhood population as well. The number of children aged 0-8 is expected to rise by 11 percent during the 2020s. If current trends continue, by 2050, there will have been a 32 percent increase in their population from 2020 levels.
NC is currently the 9th most populated state in the nation, but it’s on track to becoming the 7th most populated within the decade – surpassing Georgia and Ohio. NC’s population has the 5th highest growth rate of all states.
This population surge isn’t limited to major regional hubs like Raleigh and Charlotte. Between 2011 and 2021, every one of NC’s 100 counties saw an increase in their population shares. The counties with the most significant growth during this period were Brunswick, Dare, and Orange.
By 2030, Lee and Harnett Counties are expected to reach the population levels necessary to be considered regional centers. 69 percent of NC’s projected population for 2030 is anticipated to reside in urban or regional centers, and this figure is expected to exceed 75 percent by 2050.
Most of NC’s growth can be attributed to migration from other states, due to the nationwide decline in birth rates. The 2022 American Community Survey (ACS) reveals that about 46 percent of the state’s population was born outside NC, including 9 percent who were born abroad.
Raleigh is a major draw for newcomers, having been recognized as one of the top three “Hottest Job Markets in America” by the Wall Street Journal. It has been rated the best city for working women, ranks third in STEM job growth, and is the eighth biggest boomtown in the U.S.
Additionally, Raleigh is listed among the top ten metros for families with children, the best city for seniors, the most appealing to millennials, Gen Z hotspots, and the best places for college students to live. It also consistently ranks among America’s happiest cities and is celebrated for its work/life balance.
Raleigh is small enough to be a friendly, affordable hometown, yet large enough to showcase a thriving economy and the dynamic energy of an urban center. The city is gaining recognition for its technology and start-up scene, attracting major employers such as Apple, Google, and Toyota, and planning to add over 5,500 new jobs combined. Additionally, significant employers like the State of North Carolina, Wake Med, and NC State University contribute to a stable and diverse job market, featuring many opportunities with above-average salaries.
Despite its rising popularity, Raleigh has managed to avoid the exorbitant housing prices and high cost of living found in other tech hubs like San Francisco and Austin. Raleigh stands out as the only major technology city where home prices are below the national average – 30 percent lower than the national average.
