Raleigh High-Rise Living Is More Affordable Than You Think

Sky-high living doesn’t have to come with a sky-high price—at least not in Raleigh. 

Floor-to-ceiling windows, superior skyline views, rooftop pools—in most major cities, that kind of high-rise lifestyle comes with a jaw-dropping price tag. But in Raleigh, that’s not the case. Living in the sky is less of a luxury reserved for a select few and more an attainable way of life for the average resident.

That’s a relatively new phenomenon. Until recently, vertical living barely existed here. Residential towers with views for days and luxe amenities running the gamut from boutique workout studios to spa rooms and outdoor amenity decks were a pipe dream that felt more like a big-city fantasy than a Raleigh reality.

But as the city’s modern growth spurt took hold and high-rise apartments started coming online, that began to change.

A quick rewind, vertical living first sprouted with Skyhouse in 2016, ushering in a new era of residential towers. Since then, Raleigh has added a growing roster of high-rise options, from North Hills’ The Eastern to Downtown’s Maeve, 400H and, the latest, The Weld—with more already in progress (see: Kane Realty Corporation’s The Strand, also in North Hills)—all affording panoramic vistas and elevated amenities sans an exorbitant price tag.

“The Eastern was the first of its kind in Raleigh, which naturally generated significant interest,” recalls Kane Realty Senior Residential Property Manager Michael Hester. “Local residents were curious about living in the city’s tallest residential tower, while out-of-state prospects from cities like New York, Chicago or LA immediately recognized the value. Compared to those markets, residents here can embrace a high-rise lifestyle with premium details and amenities at a more competitive price point.”

Now, prepped to take Raleigh to the next level—literally—is Highline Glenwood, set to become the city’s tallest residential tower at 37 stories when it bows in 2028. Part of developer Turnbridge Equities’ The Creamery redevelopment, the project will serve up a modern-meets-historic centerpiece sure to transform the city’s landscape.

“Highline will redefine the Downtown skyline for generations to come,” says Turnbridge Equities Managing Director Jason Davis. “From the upper floors, residents will enjoy
sweeping, unobstructed views across the urban core, beyond North Hills and toward the rolling landscapes leading to Durham. For those who prioritize views and a true vertical living experience, the project offers an unmatched perspective.”

That influx of new supply—paired with Raleigh’s still relatively reasonable cost of living—has helped keep high-rise rents more accessible relative to many peer cities.

“New supply that has come into the market has helped moderate rent spikes, keeping it relatively balanced,” affirms Josh Dix, principal at Trammell Crow Company’s MidAtlantic office—and a 20-plus-year vet of the large-scale development sector—which is behind such local projects as 400H. “Raleigh is still an incredibly affordable rent prospect.”

Stacked against other major metros, the difference is stark. In places like New York City or Chicago, high-end one-bedrooms can easily run you upward of $6,000+ a month. In Raleigh, many comparable one-beds are sub-$2K—even in newer amenity-rich builds, with some exceptions. And compared with peer cities like Nashville, Austin and Charlotte—where vertical one-bed rents exceed $3K/month—Raleigh often still comes in lower.

“We’re fortunate to have a lower land basis, more available development sites and less restrictive zoning in our key areas,” adds Dix. “That allows developers to deliver mid- to high-density products at a lower all-in cost, which ultimately translates to more accessible rents.”

Case in point, Dix says Raleigh’s high-rise rents generally remain below Charlotte’s on a per-square-foot basis, meaning residents here are often paying less for a comparable product—not settling for an inferior one. “You’re not getting a lesser product,” he stresses. “You’re getting a similar-quality product with a discount, which is what makes it more special.”

Raleigh’s ability to grow outward has also helped rein in some of the pricing pressure seen in more land-constrained cities, notes Dix. Unlike cities built around a single dense urban core, the Cap City has had room to sprawl—something reflected in the rise of mixed-use hubs, restaurants and residential growth beyond city limits. That flexibility, combined with a healthy wave of new supply and more measured job growth than some peer markets, has helped prevent rents from escalating as quickly here.  

“Raleigh continues to attract a significant number of new residents, with more than half coming from markets like New York, Boston, DC and California—places where high-rise living is far more common, but comes at a much higher cost,” says Davis. “In many cases, comparable urban living can be two to three times more expensive than Raleigh’s top-tier apartments.”

That said, Dix warns the gap is narrowing. Construction costs are rising, prime development sites—especially Downtown—are limited, and more newcomers from high-cost cities are arriving with expectations for an urban, amenity-rich lifestyle, putting pressure on high-rise living. Even so, he says Raleigh remains far from the pricing and density of places like Atlanta or Austin, and “it would take a lot—and a long time—for us to get to the point where we’re comparing ourselves to them.”

For now, that leaves Raleigh in a rare sweet spot: amenity-rich, high-end, high-rise living with rents that still feel relatively accessible—and that undercut many larger and higher-priced peer cities. In a market where luxury increasingly comes at a premium, that’s no small thing.

---

---

The Condo Conversation

While most major metros offer a mix of condos and rentals within the high-rise market, Raleigh’s condo inventory remains limited—made up of just a handful of buildings like The West and The Residences at Quorum Center. In 2025, New York-based developer Alchemy Properties South promised One Nash Square, DTR’s first new condo building in years—a pivot from originally planned apartments—though the project has still yet to break ground.

That’s due in part to NC’s condo laws. While they don’t outright prohibit condo development, the legal structure, financing requirements and liability exposure make condos a higher-risk, slower-return product than apartments—deterring developers from building them.

To put it plainly, Raleigh’s not yet accustomed to vertical ownership, stresses Dix. While condo culture is well established in bigger markets, local buyers still tend to favor single-family homes or townhouses.

“The only way for this to change is for developers to actually produce condos, and the only way for developers to produce condos is to have predictable sales and exit strategies,” says Dix—“and that doesn’t really exist as well in the condo market as it does within the rental market.”