This year, Money magazine ranked the greater Raleigh-Durham-Chapel
Hill region in North Carolina number two on its list of the best
Southern cities. Its growth in recent years has been fueled in large part
by its status as a major research center. Aside from the biotech and
technology industries that have taken up residence here, the greater
Raleigh/Durham area also is home to several universities with world-class
research facilities. Predominant among them are Duke University and the
University of North Carolina at Chapel Hill. Renowned throughout the world,
this region is now called Research Triangle Park. IBM, Northern Telecom, SAS Institute, and Broadband Technologies
are but a few of the high-tech firms that call this region home.
Despite a population of more than 1 million, greater Raleigh-Durham
maintains a high quality of life, relatively low crime rate, and excellent
air quality, as indicated in the Money survey. On a scale of 0 to
200 (200 is best; 0 is worst), the city ranks 175 in terms of air quality.
Annual property crime rates stand at 5,505.6 per 100,000 people (the
national average is 4,686.24). Annual violent crime rates per 100,000
people stand at 570.9 (the national average is 569.63).
On the job front, the city's unemployment rate of 2 percent is lower than
the national average of 5.24 percent, and job growth rates since 1997 are
comparatively stronger, 2.92 percent versus the current national average of
1.91 percent. As the Research Triangle Park continues to grow, so will job
opportunities; job growth to 2002 is expected to rise to 7.84 percent,
compared to the projected national average of 4.54 percent.
It's no surprise that as the city has become one of our country's hot
growth regions in recent years, home prices have risen. The median price
for a two-bedroom home in Raleigh-Durham-Chapel Hill is $150,000, versus
the national average of $110,590. And home values have risen 4.91 percent
since 1997, compared to the national average of 4.77 percent.
Greater Raleigh's neighborhoods include:
Oakwood, Raleigh's only 19th century neighborhood, is a historic district
filled with relics of Victorian architecture. Its streets are well-traveled
by regularly scheduled walking tours. After going through a slump -- during
which its properties rapidly deteriorated -- restoration efforts during the
mid-1970s revived Oakwood. For an online tour of historic Oakwood (sorry,
no photos), go to: http://www.raleigh.acn.net/news/announce/oaktour.0511.html.
Glenwood South is known as Raleigh's hip downtown district. Here you'll
find plenty of opportunities to spend your money -- at salons, upscale
restaurants, and pricey specialty shops and antique stores. When businesses
fled this region following a recession in the 1980s, many properties stood
vacant here until the 1990s, when the neighborhood metamorphosed, and
vitality returned to the district.
Here are a few more statistics found by the Money study:
Utility costs (average for 1,800 square-foot home): $109.20; national
average is $104.90
Average commute time (minutes): 20; national average is 19.51
Number of sunny days per year (clear or partly clear weather): 220;
national average is 213.14
Average temperature, July: 87.7 degrees F
Average temperature, January: 30 degrees F
For an invaluable relocation guide to the greater Raleigh area, go to:
http://www.raleighs-realestate.com/raleigh_townral.html.
For a comprehensive listing of local resources, head to:
http://www.raleighchamber.org/dem.qua.html.
For a list of arts and cultural offerings, head to:
http://ncnet.com/ncnw/ral-arts.html.
Published: August 31, 1998
Use of this article without permission is a violation of federal copyright laws.
