Signals of changing housing economics in the Triangle since 2024
The articles describe how new housing developments, rising prices, changing income ratios, and policy actions are altering the Triangle's housing landscape. They show that both affordability and availability remain difficult for many residents.
Home prices have soared across the region, with entry-level townhouses in Wendell now starting near $300,000. In Raleigh, the median home price has climbed to $434,407, far outpacing income growth and raising the home price-to-income ratio well above older affordability rules. Market reports find that renting is now cheaper than buying in the Triangle's core counties, with rents consuming a smaller portion of wages than mortgages.
Affordable housing groups are trying to secure properties and keep units accessible, as in Durham, where a local nonprofit bought an apartment complex to shield it from being converted to market-rate rentals. Meanwhile, developers are completing large, master-planned communities like Wendell Falls, adding hundreds of new homes of various sizes and prices, but often at rates beyond reach for many workers.
Developers and lawmakers seek incentives and policy changes to encourage preserving affordable units. Still, most new projects target buyers or renters in higher income brackets, or are limited to affordable inventory for select groups. Large price gaps remain for both renters and buyers, especially as wages fail to keep up with costs. The Triangle's housing market continues to prioritize growth, but significant barriers persist for households seeking lower-cost, stable options.
NO. 1: PRICES FALLING: AT $330,000, THIS RALEIGH HOME COMES WITH BONUS ROOM (AND PRICE CUT)
Amid slowing sales, some owners are slashing prices on homes sitting on the market for too long. Here’s what we found in Raleigh, Durham and Cary. | Published January 2, 2024 | Read Full Story by Chantal Allam
NO. 2: IS IT CHEAPER TO RENT OR BUY IN TODAY’S TRIANGLE MARKET? HERE’S THE ANSWER.
Changes in rents are outpacing home price trends in nearly two-thirds of the U.S. What’s happening in the Triangle? New report sheds light. | Published February 5, 2024 | Read Full Story by Chantal Allam
NO. 3: TRIANGLE ENTRY-POINT? WENDELL TOWNHOUSES SELLING FOR $300,000 EAST OF RALEIGH
As growth spills over from Raleigh, developers are investing millions in the satellite town of Wendell. See what’s on offer. | Published March 11, 2024 | Read Full Story by Chantal Allam
NO. 4: THE RULE USED TO BE BUY A HOME PRICED AT 3 TIMES YOUR INCOME. IS THAT POSSIBLE IN NC?
Year-over-year wage growth remains above pre-pandemic levels, but the average household doesn’t feel the benefit, study found. Here’s why. | Published April 27, 2024 | Read Full Story by Chantal Allam
NO. 5: IN NC, THE GAP BETWEEN WAGES AND HOUSING COSTS IS GROWING. HERE’S BY HOW MUCH.
A new report by the National Low Income Housing Coalition shows North Carolina’s growing housing affordability crisis. Here’s a look. | Published July 6, 2024 | Read Full Story by Chantal Allam
NO. 6: ‘CARROT VERSUS STICK’: COULD DEVELOPERS BE ENTICED TO MAINTAIN AFFORDABLE HOUSING?
A North Carolina congressman has proposed legislation that would provide incentives for developers of low-income housing. But is it enough? | Published July 10, 2024 | Read Full Story by Chantal Allam
NO. 7: APEX DEVELOPER BUYS ONE OF LAST TRACTS INSIDE RALEIGH BELTLINE. SEE WHAT’S COMING.
As growth surges and land becomes scarce in the Triangle, Loyd Builders is being bullish. Here’s a peek at what they’ve got planned. | Published July 15, 2024 | Read Full Story by Chantal Allam
NO. 8: NC CLASH BETWEEN HIGHER DENSITY HOUSING AND NEIGHBORHOOD PRESERVATION LANDS IN COURT
A Raleigh developer wants to build 12 four-story townhouses in a historically single-family neighborhood. But he faces a hurdle: a 1958 covenant. | Published September 18, 2024 | Read Full Story by Chantal Allam
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NO. 9: HOUSING NONPROFIT BUYS DURHAM APARTMENT BUILDING, 2.3 ACRES OF LAND FOR $8.7 MILLION
A local land trust purchased an apartment building and 2.28 acres of land in Durham’s sought-after Lakewood neighborhood. What to know. | Published October 18, 2024 | Read Full Story by Chantal Allam
NO. 10: 3 NEW COMMUNITIES, 450-PLUS AFFORDABLE APARTMENTS HIT TRIANGLE MARKET. HERE’S WHERE.
DHIC Inc., a Raleigh-based affordable housing developer, has launched three new communities in hot suburbs. | Published October 22, 2024 | Read Full Story by Chantal Allam
NO. 11: DEVELOPER WANTS TO BUILD TOWERS UP TO 20 STORIES NEAR RALEIGH BELTLINE. HOW TO WEIGH IN
The city is seeking input over plans to rezone a 12 acres on Western Boulevard near the Raleigh Beltline. What to know. | Published March 3, 2025 | Read Full Story by Chantal Allam
NO. 12: TRIANGLE’S LARGEST MASTER-PLANNED COMMUNITY TAKES NEXT-TO-LAST PHASE TO MARKET
Starting in mid-May, Newland Communities will release 169 lots in the 1,100-acre Wendell Falls development east of Raleigh. What to know. | Published May 10, 2025 | Read Full Story by Chantal Allam
The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.