{"id":186855,"date":"2026-02-17T09:48:47","date_gmt":"2026-02-17T16:48:47","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=186855"},"modified":"2026-02-17T09:52:24","modified_gmt":"2026-02-17T16:52:24","slug":"why-thousands-are-flocking-to-north-carolina-real-estate-market","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/why-thousands-are-flocking-to-north-carolina-real-estate-market","title":{"rendered":"Why Thousands Are Flocking to North Carolina’s Explosive Real Estate and Job Market"},"content":{"rendered":"\n

“Follow the money” is cogent advice for investors deciding which Sunbelt state to invest in. Unlike in previous years, however, the money trail leads not to Florida or Texas but to North Carolina, where millennials are flocking for tech and finance jobs and a lower cost of living. While <\/span>cash flow<\/span><\/a> is tight for landlords in the main hubs here, by picking the right neighborhood, those who buy smart and move fast can enjoy the spoils of a state on the move.<\/span><\/p>\n\n\n\n

From July 2024 to July 2025, North Carolina attracted 84,000 new residents, according to<\/span> Census data<\/span><\/a>, more than any other state, <\/span>and is consequently<\/span> the third-fastest-growing state in the nation. While North Carolina has plenty to offer in terms of climate, geography, and jobs, the two Southern powerhouses that have grabbed the headlines over the past few years for attracting remote workers and job seekers\u2014Florida and Texas\u2014have handed North Carolina an immigration victory lap due to the rapid cost of housing and soaring insurance costs in the two states.<\/span><\/p>\n\n\n\n

\u201cThe cost of housing, in particular, is driving young people and retirees to other states,\u201d University of Florida research demographer Richard Doty told the<\/span> Associated Press<\/span><\/a>. \u201cAlso, insurance is higher in Florida than in most other states.\u201d<\/span><\/p>\n\n\n\n

Rival States Hit the Brakes<\/span><\/h2>\n\n\n\n

The post-pandemic tech boom in Texas <\/span>appears to have<\/span> hit the brakes recently, as major companies have laid off workers, while traditional coastal employment hubs such as New York and San Francisco have picked up.<\/span><\/p>\n\n\n\n

Isabelle Bousquette, a tech reporter for <\/span>the Wall Street Journal<\/span><\/em>, said on <\/span>Texas Standard<\/span><\/a>, a Texas Public Radio station:<\/span><\/p>\n\n\n\n

\u201cThere was a recent report from SignalFire, which is a venture capital firm, and that was showing that in 2024, employment in big tech companies declined 1.6% in Austin, and employment in tech start-ups declined 4.9%. We also saw declines in cities like Dallas, Houston, Denver, and Toronto. But then, you know, increases actually in New York and the Bay Area<\/span>\u2026.<\/span>A lot of the companies that moved to Texas have done layoffs since.\u201d<\/span><\/em><\/p>\n\n\n\n

Escalating rents and home prices have also contributed to the exodus. \u201cI think a lot of people were frustrated and disappointed when the housing costs went up or fluctuated. And yeah, I think that was also one of the reasons that they may have headed out,\u201d Bousquette added.<\/span><\/p>\n\n\n\n

Smaller Cities Make for a Better Quality of Life<\/span><\/h2>\n\n\n\n

Also playing into North Carolina\u2019s hands are the generally smaller, less bustling metros compared to Florida and Texas, where families can live closer to their jobs or work remotely while being in a scenic environment.<\/span><\/p>\n\n\n\n

\u201cNorth Carolina is attracting younger folks because we have so many nice areas in North Carolina\u2014the mountains and beaches and lakes in between\u2014that we\u2019re benefiting from younger people who decided they can work from anywhere and would rather be in a nice area,\u201d North Carolina state demographer Michael Cline told the Associated Press. \u201cOne of the things about North Carolina, our cities are not huge, and that may be attractive to folks, too.\u201d<\/span><\/p>\n\n\n\n

These factors have helped employment hubs such as Raleigh, Durham, and Charlotte evolve into diversified centers rather than single-industry boomtowns. <\/span><\/p>\n\n\n\n

This<\/span> is why Ralph DiBugnara, founder and president of real estate investment platform Home Qualified, recommended Raleigh as the prime place to invest in 2026.<\/span><\/p>\n\n\n\n

“A great strategy for 2026 would be to look into any cities that are growing population because of workforce,\u201d he told<\/span> GoBankingRates<\/span><\/a>. \u201cThis can be a major needle mover in higher prices for real estate.\u201d<\/span><\/p>\n\n\n\n

Employment Diversity<\/span><\/h2>\n\n\n\n

In addition to its core employment drivers in tech and finance, North Carolina has been broadening its employment reach in manufacturing and life sciences through Swiss drugmakers<\/span> Roche<\/span><\/a> and<\/span> Novartis,<\/span><\/a> as reported by Reuters. Construction for the buildout, along with the creation of permanent new positions, will result in thousands of new jobs.<\/span><\/p>\n\n\n\n

The Landlord Play<\/span><\/h2>\n\n\n\n

For smaller landlords, the play is straightforward: More high-paying, stable jobs result in stronger rent rolls and deeper tenant pools over time. The real decision is choosing where to invest.<\/span><\/p>\n\n\n\n

For all-cash buyers who are looking for a solid place to park their money and enjoy strong returns, Raleigh, Durham, and Charlotte in B and B+ neighborhoods close to the main employment area are a no-brainer. Research is needed, though, on the types of wages <\/span>being paid<\/span> so that rent does not take up the majority of a tenant’s paycheck.<\/span><\/p>\n\n\n\n

High on a millennial\u2019s list of must-haves will likely be a walkable neighborhood, with easy access to parks, trails, restaurants, and an adequate supply of housing to invest in with numbers that make sense. That means targeting submarkets with commuting distance to their jobs.<\/span><\/p>\n\n\n\n

Important Stats<\/span><\/h2>\n\n\n\n