Election year is upon us, and it’s a big one for local politics. While we don’t cast our ballots for mayor until Nov. 5, the race is already well underway, with six hopefuls spanning diverse demographics declaring candidacy to date (candidates can officially file July 1).
Hot topics driving the voter conversation this year include Downtown safety, rezoning, affordable housing, the RPD shortage, transportation, infrastructure and sustainability. So, naturally, 2024’s candidates are ignited by a deep desire to effect change in Raleigh.
“Things in the city have gotten personal,” first-time candidate Janet Cowell confided to Raleigh Magazine in an exclusive interview. “There seems to be a lot of personal acrimony and division, between citizens, [and between] citizens and Council—a lot of animosity. The whole tenor of the actions seems tense, and it’s making it difficult to get work done. There is a lot of power in reflective listening and making people feel heard.”
Second-time mayoral candidate Dr. Terrance Ruth has thrown his hat back in the ring to address what he sees as the city’s pressing challenges and opportunities. “We need to pivot and make different decisions,” he told RM. “We’re experiencing growing pains of all the significant—good, but significant—growth our city has seen. There’s growing food insecurity, financial insecurity and home insecurity to change.”
For her part, Mayor Mary-Ann Baldwin remains undeclared as she prioritizes governing. “We have to focus on governing and making decisions—and keep politics out of it as long as possible,” Baldwin told RM, also intimating to expect her announcement in April. Even before Baldwin’s decision, the race for the seat is hotly contested. And for these candidates—and our city—much is on the line. And, clearly, it’s personal.
As this race should be for each of us. Ultimately, local elections are just as important, if not more important, than national elections, as local officials directly affect our day-to-day lives—from how we live to what the city we live in looks like to how safe it is. And this year’s decision will directly impact our trajectory for years to come.
“I feel ready; I feel now is the time,” says the District C city councilman of nine years. The Raleigh native is campaigning on an array of specific “deliverables,” such as securing funding for 2,000+ affordable housing units, widening Rock Quarry Road and providing residents free mental health services.
“We need authentic relationships because that’s what the fabric of local politics is,” says the former state treasurer and Raleigh councilwoman and current Dix Park Conservancy CEO of her run. Cowell has already picked up endorsements from former Mayors Nancy McFarlane and Charles Meeker, and is campaigning on protecting the environment, diversifying housing options, increasing public safety and engaging the public in things such as rezoning for new infrastructure.
“We’re living in a time that requires a different way of thinking to deal with the growing challenges—challenges our city hasn’t seen in years,” says the second-time mayoral candidate. A NCSU professor and former president of the Justice Love Foundation, Ruth’s candidacy is anchored in three core principles: security, representation and change—emphasizing the need for authentic leadership and innovative solutions.
This self-proclaimed conservative candidate plans to crack down on crime and hopes to hire an additional 400 police officers. And this isn’t the first time the sole partisan candidate had his name on the ballot—the mortgage broker previously ran against then-mayor Nancy McFarlane in 2017.
The Civil Rights activist aims to end gentrification, provide affordable housing and win reparations for Black Foundational Americans (aka Freedmen) via his For the People platform.
This William Peace University pre-law student has his sights set on building additional accessible housing options, reducing the budget, revitalizing mental health and updating public transportation.
Election year is upon us, and not only is it a big year for national politics, but local as well. While we won’t cast our ballots for mayor until Nov. 5, the race is already taking shape.
Although hopefuls have until July 19 to file, a number of candidates spanning diverse demographics have already thrown their hat in the ring—and many have been campaigning for the municipal role since last year. Why it matters? Baldwin’s 2022 victory came at the end of a tight race, edging out then challenger Dr. Terrance Ruth, who grabbed 41% of the vote.
This year, hot topics include zoning debates, Downtown safety, affordable housing, the RPD shortage, transportation, infrastructure and sustainability.
Corey Branch The city councilman of nine years is campaigning on an array of specific “deliverables,” such as securing funding for 2,000+ affordable housing units, widening Rock Quarry Road and providing residents free mental health services.
Delmonte Crawford The Civil Rights activist aims to end gentrification, provide affordable housing and win reparations for Black Foundational Americans (aka Freedmen) via his For the People platform.
Janet Cowell The former state treasurer and Raleigh councilwoman and current Dix Park Conservancy CEO announced her candidacy Jan. 22 and is campaigning on protecting the environment, diversifying housing options, increasing public safety, and planning and engaging the public in things such as rezoning for new infrastructure. The most recent to throw her hat in the ring, Cowell has already picked up endorsements from former Mayors Nancy McFarlane and Charles Meeker.
James Shaughnessy IV This William Peace University pre-law student has his sights set on building additional accessible housing options, cutting spending, revitalizing mental health and updating public transportation.
Paul Fitts This conservative candidate plans to crack down on crime and hopes to hire an additional 400 police officers—and this isn’t the first time he’s had his name on the ballot. The mortgage broker previously ran against then-mayor Nancy McFarlane in 2017.
Local elections are just as important, if not more important, than national, as local elected officials directly affect your day-to-day life. When you vote for a candidate, you are putting the future of your life, home, commute and job in their hands. So, be sure to study up and mark your cals to head to the polls for the general election Nov. 5! Stay tuned for updates as more candidates file.
Habitat for Humanity’s BuildBetter with Whirlpool initiative helps cut down on families’ energy bills.
“Don’t touch the thermostat!” … a phrase that will no doubt reverberate across local households as we struggle to keep our energy bills low—especially during the sweltering NC summer.
Enter Habitat for Humanity’s BuildBetter with Whirlpool program, which helps homeowners alleviate the impact of climate change via more energy-efficient and resilient homes. Now, NC’s Habitat for Humanity affiliates are furthering the cause for Raleighites.
The Whirlpool partnership is an expansion of Habitat for Humanity’s BuildBetter program, which plans to build ~250 affordable, climate-resilient and energy-efficient homes in the next three years (how’s that for a triple dub?)—with the new collab expanding the initiative’s efforts.
As part of the program this year, participating affiliates can pursue energy-efficient home upgrades, including Energy Star, SystemVision, active ready radon mitigation systems, homebuyer disaster-readiness education and Fortified Home designations.
“When we launched the BuildBetter with Whirlpool initiative, we established a baseline goal of a 15% increase in energy efficiency over typical new construction homes,” says Adrienne Goolsby, senior vice president of the U.S. and Canada Habitat for Humanity International. “We are currently in the process of a formal study that monitors the progress of the three-year initiative, and we aim to have results of the BuildBetter with Whirlpool program available in 2025.”
The efforts are clearly much-needed. To keep up with the rising energy rates (which have increased by 7.7% since last year), low-income households across the country shelled out almost 13% of their incomes on utility bills, with many NC residents giving up basic essentials such as food/medicine to foot the costs.
Through the BuildBetter initiative, 143 out of 250 climate-resilient and energy-efficient new build homes are complete or in progress, and 120 more homes will be built in 2023. And joining the effort are six local Habitat for Humanity branches (Durham, Greensboro, Orange County,Ashe County, Goldsboro-Wayne and our very own Wake County)—with each committed to incorporating energy-efficient features. Think water-conserving plumbing and high-efficiency heating/cooling appliances in new home construction projects this year.
“This is the most rewarding job I’ve had in my entire life—and I’ve served 29 years in the military,” says Avis Rankins, who originally started as a volunteer and currently works as a construction site supervisor at the Fayetteville Area Habitat for Humanity. “I love this even more than what I did in the service because I’m doing this for a whole different reason. I’m improving my community where I was raised. I’m making somebody else’s life easier.”For those wanting to offer a helping hand, volunteer opps are available for all—whether you want to roll up your sleeves or assist in other ways. “There’s so much we do in a construction arena that doesn’t require heavy lifting. Even if you want to show up and just sit at the table, talk to people or fellowship with the homeowner, please come out,” says Rankins. Building a better community—literally—one person at a time…
Raleigh’s homeless numbers are on the rise. Four Raleighites share their personal stories into what homelessness is like—and what we as a city need to do about it.
“We need to see the humanity of every person as a person,” says local Kara Sanders, a single mom who is currently living in her car with her 7-year-old son, Wisdom. “We need to see their brilliance beyond their bank account.”
A walk Downtown quickly reveals that homelessness is more abundant—and visible—than ever before. It’s pervasive, affecting vast ages, races and backgrounds. And while our community boasts a host of local organizations and resources for people who are homeless and/or food-insecure—A Place at the Table (APATT), Housing Options for Students Today (HOST), Raleigh Rescue Mission and ACORNS, to name just a few—the problem continues to escalate.
These organizations have seen alarming increases in the number of those seeking help. Oak City Cares, for example—a multiservices center that connects Raleigh’s homeless population and those at risk of homelessness to services that put people on a pathway to safe and stable housing—cites a shift from ~900 individuals seeking assistance in 2019 to 1,500 in 2022, and more than 2,220 in the first nine months of this fiscal year.
And according to Raleigh Rescue Mission, homeless rates in Raleigh and Wake County are rising by 8% each year. A shocking ~6,000 youth in Wake County schools are homeless, while almost 100,000 local people experiencing poverty walk the fine line between housing insecurity and losing their homes altogether—and just one minute financial hiccup could teeter to homelessness.
APATT founder and Executive Director Maggie Kane has witnessed Raleigh’s rising homeless rates firsthand at her pay-what-you-can cafe. Pre-pandemic, 50 to 60 people might come in on any given day in need of a meal, she says, whereas, now, those numbers have skyrocketed to 100 to 150.
Meanwhile, we’re inundated on the daily with how extraordinary our city is—decorated with an array of accolades and approval ratings ranging from entrepreneurship to wellness to point-blank the best place to live. But these shiny achievements don’t tell the full story for everyone who calls Raleigh home. In fact, when it comes to economic mobility, Raleigh tops the list as one of the worst—meaning, in Wake County, if you’re born poor you’re more likely to stay poor.
Homelessness is an epidemic—and it impacts Raleigh’s future growth and vitality. “Our city has gone beyond burgeoning. It is now bursting at the seams,” says Rev. Frank White, pastor of Antioch Bible Fellowship and a member of the Raleigh Area Land Trust board of directors, who spoke on the issue at Raleigh’s first meeting of its joint homelessness committee in May. That population boom met with rising rental rates and stagnant minimum wage are key components contributing to homelessness.
Amid massive efforts to revitalize Downtown Raleigh—from the Fayetteville Street revamp to new business and apartment complex openings—the homelessness epidemic needs to be addressed, both for the housing insecure and for the residents who frequent our city streets. And while we can all point fingers to myriad contributing factors affecting the homeless hike—both in and beyond our control—pointing fingers doesn’t solve the problem.
This crisis is heavily affecting all Raleigh residents—and it could happen to any of us. It could happen to you. Who are the people affected? How did they get here? What are their stories? And if we are to say we love our city, it leaves us with this: How will we put our heads and hearts together to fix Raleigh’s homeless hike?
Kara Sanders Homeless since 2020
Kara Sanders, aka “Momma Kai,” came to Raleigh from Connecticut a little over three years ago with her 7-year-old son, Wisdom. They initially came to NC looking for paternal support—and when that support wasn’t there, Sanders chose to be unhoused to keep both herself and her son safe due to threats from his father.
Throughout that time, she and Wisdom have bounced around from her car and other people’s homes to hotels and even their storage unit. Sanders is on the board of Wake County and the City of Raleigh’s recently launched joint homeless effort—and she brings a positive outlook about her situation by staying involved in civic engagement.
Sanders prioritizes both her own and her son’s well-being—bringing him to storytime at the local library and taking him to play at parks most mornings (they’ve been to over 40). The two have a place to go for a shower and to store their food while they’re living out of their car.
As she considers her future, Sanders is in the early stages of opening a business called L.U.V. Enterprise—aka “learn your value.” The motto “building the village, raising the child” briefly encapsulates how they’ll accomplish their committed, compassionate and crazy mission to eliminate homelessness, poverty and the next generation of prisoners. “The work you do now can change the course of your life,” she says.
Nate Blackmon Homeless since 2018
“You’re worthless on the street. You have no money and no way to defend yourself,” says Nate Blackmon, who has been on the streets for the past five years. After his dad was diagnosed with stage 4 cancer, Nate Blackmon used his savings to pay for the family car lot business. When his dad passed, Blackmon’s mom and brother sold most of the cars in their name—depleting them from 98 to 17 cars—resulting in the loss of his home and a fallout with his family shortly thereafter.
Now, Blackmon hasn’t spoken to a member of his family in over two years. Almost every morning, he comes to A Place at the Table to volunteer for his breakfast, sometimes heading to City Market to read or use a microwave before pitching his tent for the night. He used to pitch it near Healing Transitions (“They have a dry place to sleep—it’s not very fancy, but they feed you,” he says); but, since being robbed at least nine times, he has now moved his tent into the woods. Twice a week, you might also find him at Pullen Memorial Baptist Church for a hot meal and clothing.
During his five years on the street, Blackmon has dealt with myriad mental health and drug issues and experienced the “every man for themselves” mentality from other members of the city’s homeless community. “I’ve let some of them into my tent and they thank me by stealing from me,” he says. “The community can be very violent and switch up on you—there was a time I thought I was crazy. … But I’m not crazy, I’m just in a bad situation.”
When he considers his future, Blackmon has plans to take hold of his situation for the better. He dreams of going back to school and using his background knowledge in coding to do cybersecurity, and getting a state license to sell used automobiles, make money and work to help break the homeless cycle.
“If I make money, I’m going to get a place to stay and be a different person than I was when I had money,” he says. “When I had money and I had a problem, money solved my problem. Now I have no money and a problem—so I have to use my intellect to solve it.”
He adds: “I’ve got maybe 10 years of viable life left. I don’t want to be an old man on the streets. I want to be a contributing member of society.”
Regina Harper Homeless since October
“There are times when I just stay in my car because I’m sad,” says Regina Harper, mother of two. “I don’t want to be in the situation I’m in—and it’s never anything I wanted for my children.”
Harper, her 15-year-old daughter and her 5-year-old son have been living in a hotel room since being evicted from their apartment in October. When the pandemic initially hit, she was furloughed from her job as a store manager with Jos. A. Bank and didn’t receive an unemployment check until about a week before she returned back to work in June 2020. By August, the store managers were getting laid off or offered positions at lower pay.
“I wasn’t able to maintain my household,” she says. “I was able to use the House Wake! Program in partnership with the Telamon program. They helped tremendously to keep us in our apartment… but when the apartment agency no longer accepted the rental assistance and said it had to come from me—that’s when I couldn’t hold it afloat anymore.”
Harper currently works as a prep cook at Paragon Fenton in Cary and does valet trash at night. Maintaining two jobs while parenting and dealing with the stress of her family’s situation takes its toll. And with work, plus the responsibilities of motherhood—making sure her kids have transportation, finish their homework, have clean laundry, etc.—she doesn’t get to spend much quality time with her children.
“My daughter suffers from living in a hotel room every day,” says Harper. “There’s things going on out there, people overdosing—and we can’t afford to get a decent hotel room. One day we came outside and there were needles on the ground. … Not too long ago, my 5-year-old asked when we were going back to our old house, and it’s like, ‘We don’t have a home, baby… this is where we live.’”
Harper’s philosophy is to take each day one at a time—with the hope that tomorrow will be better than yesterday. And when she considers the homeless situation as a whole in Raleigh, adding more affordable housing options (plus making housing more accessible) and raising the minimum wage are two ways to start. “If you’re by yourself you can’t live on that,” she says of North Carolina’s minimum wage. “God forbid you have one or two children.”
Adds Harper: “I don’t want to say the pressure is unbearable, but it is. And I don’t have any option but to deal with it because I have two kids who are looking up to me. … My hope is for Raleigh to recognize that there’s an issue with homelessness. Even the shelters are backed up—we were told it would be three months before we would get a call back. I didn’t realize how much time that was until I had that much time. I don’t have three months to get my kids somewhere to live.”
Vision6 Productions
Roger Kornegay Homeless for 9 Months
Roger Kornegay—who now co-runs creator page Raleigh FoodTrap—experienced homelessness in high school. During his sophomore year, he came home to an orange notice on the door saying he didn’t have the right to enter, thus beginning a ~nine-month stint jumping from hotel to hotel with his parents and two siblings.
Kornegay was raised by parents who both worked full-time jobs. His family made the move from Goldsboro to Raleigh around 2000, and with their move came the purchase of a new home. But after his mom had to discontinue working as a result of illness, his dad was left to carry the weight of supporting the family on a single income.
“We lasted about a year before we started falling behind on home payments and the mortgage,” recalls Kornegay. After losing their home, his parents took the savings they had and put the family up in a hotel room—and each paycheck his dad received went right back to paying for that room.
At first, hotel-hopping was exciting for Kornegay and his siblings—but after a few months of staying at almost nine different hotels, the novelty wore off and the reality of the constant shuffle (a manager once kicked them out for eating too much food) and lack of privacy soon became draining. As a high school student living in a hotel room with limited belongings, Kornegay often found himself wearing the same outfits to school.
“When you’re in high school, that’s a big deal,” he says. “Kids notice you wore that shirt yesterday… and I only had two pairs of shoes. But the only way you’d know we were homeless was if you followed us to the hotel after school.”
To help get them back on their feet, White Memorial Presbyterian Church’s StepUp Ministry sponsored the family via a townhome in Downtown Raleigh that required very low rent. Today, Kornegay’s experience has shifted the way he works and lives.
“Because I’ve been through it and have my own family now—a 2-year-old and a baby—my grind is different than others,” the Raleigh FoodTrap creator shares. “I don’t want my kids to know what it’s like to wear the same outfits or live in a hotel.”
A PATH TO HOPE
Wake County and the City of Raleigh hosted the first meeting of the joint homelessness committee in May, aimed toward providing help for those experiencing homelessness in our community. The task force is armed with representatives from Raleigh City Council, City of Raleigh, Wake County Public School System, Raleigh Police Department, Oak City Cares and Healing Transitions, among others. The timely meeting acknowledged the long road ahead of us—and the groundwork that needs to be laid—to begin the process of solving Raleigh’s homeless problem.
Ignoring the issue only exacerbates it, and so we must acknowledge—and act on—the less enticing aspects of growth. The committee acknowledged it’s not a problem that exists in a vacuum—a look across the nation finds relative cities facing similar spikes in homelessness due to such issues as rising housing costs. Cities like Denver serve as a cautionary tale to determine what we want to emulate and what to avoid.
“The system is broken, and there are a lot of people trying to access services across the board,” says Raleigh Council Member Stormie Forte, co-chair of the joint homeless effort. “Being in this space and collaborating with people coming from different experiences is very important and critical. … I’m excited about the work we’re going to be doing.”
HOMELESS COLLEGE STUDENTS
For its part, HOST—the first program of its kind in the U.S.—was launched last year by NC State to bolster housing security by connecting students with a “host” family. According to HOST advisory board chair Mary Haskett, a 9.6% chunk of the student population experienced homelessness in 2017, and increased to 15% in 2020. “Given stagnant wages combined with increases in tuition fees and the cost of rent in Raleigh,” she says, “I would take a professional guess that we would see increases based on those factors.”
Folasewa Olatunde, an international graduate student at NC State, experienced transitional home insecurity during a six-week span of college. Not knowing where to go, she planned on sleeping in the library before finding a spare room where she could stay until flying home.
“I was overly concerned about where I was going to stay,” she recalls. “And it’ll impact your concentration in classes and your mental health.” Now, Olatunde works with the HOST program to help other students struggling with home insecurity. “I think in the last four to five years housing costs have gone up and income has not kept up,” she says. “I don’t know anyone whose income has kept up… and the cost of groceries and everything else has increased.”
When she considers what could be done to improve the situation, Olatunde points to the university providing transitional housing options for international and domestic students alike, and increasing stipends and pay for student employees.
HOMELESS KIDS
“We had a waitlist of about 125 families—each of those averaging around three kids per family—awaiting services that are critical to their well-being, not only now but later in their lives,” says Joy Guha, program coordinator at Passage Home Inc., an organization that exists to help break the cycle of poverty. “This is largely invisible. The common misconception is that there is no childhood homelessness, but it’s there. It’s just less visible than someone walking up to your car and asking for money.”
Guha works with a program called REACH (resilience, empowerment and access for children in homelessness), and she emphasizes the lasting impact that homelessness and home insecurity can have on kids that will impact them for years to come.
“Working with kids is an added layer,” she says. “There’s the turbulence of being homeless—lots of our families are in hotels and motels and move around pretty frequently based on hotel rates. In addition to food insecurity, that can be a trauma to young brains… and it’s a really large, complex problem to be working on.”
HOW TO HELP
Per A Place at the Table’s Maggie Kane, here are a few small places to start.
Talk to folks. Look people in the eyes and treat them as human.
Financially support organizations working with folks experiencing homelessness like Oak City Cares, Healing Transitions, etc.
Again… say hello. Treat them as human.
Buy Place cards from APATT so folks can get a meal.
Buy McDonald’s gift cards so folks can get a hot coffee or a quick meal and have a place to be for a bit.
From shrinking spaces and listings to rising rents—the squeeze is real.
Less for Your Money?
What a difference a year makes. While people continue to flock south—and to Raleigh in particular—for the region’s relative affordability, ironically, surging demand (and mortgage rates) has meant a skyrocketing housing market.
The result?
Many longtime locals can no longer afford to live at “home.” With the U.S. population center trending south this decade, according to a recent AP report, the region added a whopping 1.3 million new residents in 2022, with North Carolina not surprisingly trending among states for the biggest growth—behind only Texas and Florida.
Raleigh is the #1 Hottest Real Estate Market in the U.S.
Feel like you’re in a fever dream? You’re not. The cost of real estate in Raleigh has skyrocketed. We scoured citywide listings to show the seismic jump in housing costs across ZIP codes.
$2,245 Median-priced home mortgage payment Raleigh-Cary from late November 2021–late November 2022
$1,325 Nov. 2020–Nov. 2021
AFFORDABILITY
While Raleigh grapples with a shifting skyline and growth for the good (attracting big business,huge events, hospitality titans and the like), the city is also facing mounting concerns with housing affordability—not to mention cost of living, crime and transit woes (see p. 24). As the third-fastest growing county in the U.S., Wake County has work to do. No one is denying affordability as a huge issue—from Wake County Board of Commissioners Chair Sig Hutchinson to Mayor Mary-Ann Baldwin, city and county leaders have acknowledged the crisis and emphasized the need for a solution. Case in point, Baldwin believes housing is a right—not a privilege—and recently revealed the city is just under 70% on its way toward its goal of 5,700 affordable housing units by 2026. “We are on track to meet our goal,” says Baldwin. “However, increases in labor and supply costs, as well as interest rates, have and will continue to present challenges. City Council has approved additional funding for communities in the development pipeline and will continue to be aggressive in meeting our goals.” But while leaders grapple with affordability and the missing middle (see below), in the meantime, demand has outweighed supply—and suburban flight is real. While home prices did dip to end 2022 after a record peak last summer, sky-high 7% interest rates kept mortgages still out of reach. We take a look at what house you get for your money across Raleigh right now—and how that once median ~$300K single-family home suddenly feels out of reach.
Least Expensive Single-Family Home: Northeast Raleigh 7805 Wakebrook Drive 27616 $290K 2023 YEAR BUILT 1953
THE MISSING MIDDLE
Raleigh is growing—but is an entire population being left out of that growth? Yes, we’re referring to the “missing middle,” a hot-button term referring to “housing types between detached single-family homes and large apartment buildings, including duplexes, triplexes, townhouses and small apartments,” as defined by the City of Raleigh. Before 2021, many of these housing types were prohibited in select Raleigh neighborhoods, sparking heated conversations, but, despite text changes to Raleigh’s Unified Development Ordinance (UDO) in 2021 and 2022, affordable housing options for low- to middle-income residents are still, well, missing (a quick Zillow search for homes at $300,000 will garner just over 100 listings).
To be fair, the city is taking strides to mitigate the issue and provide more options for those stuck in the in-between. For instance, off Edwards Mill Road, a single home is being broken up into four more affordable ones; and a home in the Hayes Barton area is being knocked down to make way for 17 proposed high-end townhomes. But these projects are getting major pushback as residents fight to reverse the rezoning. In Hayes Barton, residents are frustrated and have gone as far as to say these townhomes would destroy the character of their community. Clearly we need a solution to meet in the middle on the missing middle…
Tiny Homes Raleigh, The Hannah, 320 sq. ft.
Are ADUs a Solution?
A prime example of missing middle housing are accessory dwelling units (ADUs)—which were approved by Raleigh City Council in 2020. These typically 450- to 800-square-foot single-unit homes (think around the same size as a studio or one-bedroom apartment) are located on the same lot as a principal dwelling—either detached, attached or internal. And the City of Raleigh is making it easier than ever for residents to build ADUs on their properties with its ADU Fast Track program, which offers a gallery of plans already reviewed for building code compliance (permits, however, must still be individually submitted). Naturally, because these units are small and on an existing property, they’re way more affordable than building or buying a standard home—and in some cases cheaper than renting as well.
RISING RENT
What happened to supply & demand?
Rental prices in Raleigh are—to put it frankly—absurd as of late. And, despite more and more apartment complexes popping up in the area, renting in the City of Oaks remains incredibly expensive. As a matter of fact, rent is rising faster in Raleigh than any other major metropolitan area. We saw a 22.5% YoY increase in January—and Raleigh topped the list for median rent for the third month in a row. So, clearly, the whole supply and demand balance is out of whack here. Case in point: A recent Zillow report found that it would take four full-time minimum wage incomes ($7.25/hour) to afford rent on a typical one-bedroom in Raleigh.
The math… just doesn’t add up. Not to mention most apartments in the area require applicants to make 3 times the rental rate, or be incredibly close to it. So, if the rent is $2,000/month, you must make $6,000/month, which adds up to $72,000—while the average household income in Raleigh is only around $60K.
In essence, gone are the days when renting an apartment was more affordable than paying a mortgage on a home. As a result, many renters are being pushed into a “rent trap” in which they’re unable to save for a down payment on a home because all their money is going toward rent (roughly a quarter of NC renters pay more than 30% of their income in rent).
As one of the top five places to live in the U.S. according to Bankrate, Raleigh is only expected to continue growing in popularity—and population—making real estate likely more sparse and more competitive.
Tiny house interior, living in small spaces.
MICROLIVING
Does size really matter?
You might be wondering who the hell wants to live in a 160-square-foot apartment (aka microapartment)—not to mention for a relatively hefty $1,000 a month. With the announcement of local David Smoot’s plans for 100 single-occupancy 160-square-foot microunits on Hillsborough Street in January, it seems microapartments are the next big—ahem—thing in local real estate.
Clearly, microliving is about to take off. Why? Well, for starters, there’s a whole population of people who are rarely home and don’t feel the need to pay for a 600-plus-square-foot space when they really just need a shower and a place to rest their head. Case in point, Grubb Ventures and Jamestown specifically developed their soon-to-open 430-square-foot microunits at Forge at Raleigh Iron Works with those denizens in mind. Leaning into the lifestyle, they round out the development with a plethora of amenities that encourage residents to be out of the house.
The other driving factor for the microunit trend is price point. While maybe 600SF for $1,000 a month would be more appealing for some, that option just doesn’t exist in Raleigh anymore (see our “missing middle” section). So, this is what it’s come to: a closet, more or less, for four figures.
RIW Micro Units (Grubb Ventures)
The Signal—Seaboard Station (Courtesy of Hoffman & Associates)
9Coolest Big-City Amenities Coming to Raleigh
Conference room that doubles as a podcast recording studio (Forge at RIW)
Chef-inspired outdoor kitchen with grilling stations (Conclave Glenwood)
Two-story fitness center outfitted with a private training room, multiuse studio, Peloton bikes, Echelon smart touchless mirrors, weight training equipment and more (The Signal)
Indoor pet park and spa (The Residences)
Indoor/outdoor rooftop lounge with panoramic city views (The Eastern)
Luxor package room and locker system with climate control modules for perishables such as food and flower deliveries (The Residences)
Saltwater pool designed with an industrial flair including an interior window feature (Forge at RIW)
A dedicated wine lounge outfitted with a striking fireplace, warming drawer, wine refrigerator and TV alongside seating for an elevated retreat or entertaining space (The Signal)
A fully outfitted game and entertainment space with shuffleboard and multiscreen video wall for gaming or game day (The Signal)
The Residences (Grubb Ventures)
Parking Problems
As Raleigh grows, so too do parking woes. And, as long has been a problem in major metropolises, parking spots will not be plentiful enough to meet resident needs—and will come at a cost. We see this playing out in brand-new luxury builds like The Signal at Seaboard Station, which will offer the opportunity to secure a garage parking space for an additional fee. Residents may have access to additional spaces based on availability.
Defining Luxury
The term “luxury” is thrown around a lot these days—perhaps devaluing the term and blurring the line between such posh penthouses as the Eastern vs. say apartment complexes being built along Duraleigh Road (or all over town). True luxury—in such spaces as The Signal or The Residences—is defined by incredible design, best-in-class finishes (think Quartz Carrara Notte countertops and hotel-style backlit vanity mirrors), high-touch hospitality-level services and expansive avant-garde unparalleled amenities (see our list) intended to provide residents with seamless living.
Rent At A Glance
Finding an apartment in Raleigh in 2022—especially an affordable one—was no easy task. According to RentCafe, as more and more people relocated to our fine city, rental prices skyrocketed and landed the Triangle in the “competitive market” category. And it’s not just Downtown—rent in Raleigh is expensive, period. Though, yes, being in DTR will definitely cost you more. Today, it’s almost impossible to find an apartment for less than $1,000/month—including studios—with the average one-bedroom clocking in at $1,357 as of February 2023. Here, we take a look at different rental properties throughout the city and how they stack up.
