RALEIGH-DURHAM, NC
The Research Triangle is defined by the triangle formed by NC State University in Raleigh, Duke University in Durham, and the University of North Carolina in Chapel Hill. That academic foundation spawned Research Triangle Park — one of the largest research parks in the world — and a technology and life sciences economy that has attracted major employers from across the country.
For multifamily investors, the Triangle's significance is its combination of employment depth and population growth. The market has added residents at a pace that consistently outstrips new housing supply, creating durable rental demand across price points and submarkets.
Britt CRE covers the full Triangle market — from urban Raleigh and Durham to the suburban corridors of Cary, Apex, and Holly Springs — with a focus on the 5–100 unit segment where local expertise and direct advisory relationships create the most value.
Why the Triangle?
- —Three major research universities anchoring a knowledge-economy employment base
- —Consistent top-five ranking for U.S. net in-migration
- —Apple, Google, and major life sciences employers driving sustained job creation
- —Diverse submarkets from urban Durham to suburban Cary and Apex
- —Strong renter demand from young professionals, graduate students, and corporate transferees
WHY INVEST IN THE TRIANGLE?
Knowledge Economy
The Research Triangle is anchored by three major research universities — NC State, Duke, and UNC — and a technology and life sciences employment base that has attracted Apple, Google, and dozens of biotech firms. This creates a renter profile that is highly educated, well-compensated, and mobile — exactly the tenant base that supports strong multifamily fundamentals.
In-Migration Velocity
Raleigh-Durham has consistently ranked among the top metros in the country for net in-migration. The combination of job creation, relative affordability, and quality of life continues to attract residents from the Northeast, Midwest, and West Coast — sustaining rental demand well ahead of new supply additions.
Submarket Variety
The Triangle offers a range of investment profiles. Urban Durham and Raleigh submarkets attract young professionals and command premium rents. Suburban Cary, Apex, and Holly Springs serve families and corporate transferees. Each submarket has distinct rent dynamics, tenant profiles, and competitive landscapes — giving investors meaningful choices.
WHAT TO WATCH
The Triangle's primary challenge is the pace of new development. The market's strong fundamentals have attracted significant institutional capital, and new apartment deliveries — particularly in Raleigh's urban core and the Cary/Morrisville tech corridor — have created pockets of near-term supply pressure. Investors in the 5–100 unit segment are generally insulated from direct competition with new Class A product, but it is worth monitoring absorption rates in specific submarkets before committing capital. The markets that hold up best through supply cycles are those anchored by employment nodes with limited developable land.