News Summary
Raleigh, North Carolina has been recognized as the ‘best-performing’ large city in America for 2025 by the Milken Institute. This significant improvement from its previous No. 2 ranking in 2024 comes as a result of a thriving job market, a dynamic tech sector, and impressive population growth. Despite facing challenges related to housing affordability, city officials are working on strategies to ensure sustainable development. Raleigh’s focus on community resilience and strong job growth positions it as a vibrant place for current and future residents.
Raleigh Crowned the Top Large City in America for 2025
Raleigh, the charming capital city of North Carolina, is making headlines as it has been recognized as the “best-performing” large city in the country according to the Milken Institute’s latest assessment for 2025. This accolade shows a delightful improvement from its previous position, where it snatched the No. 2 spot in 2024. Raleigh has certainly made a name for itself and for all good reasons!
Why is Raleigh Shining Bright?
Several key factors have contributed to Raleigh’s impressive ranking. First off, the city boasts a robust job market that’s truly thriving, along with a dynamic tech sector that’s continually expanding. Add to that a sustainable population growth, and it’s clear why so many people are flocking to this lovely city.
When taking a closer look at the metrics that drove these rankings, Raleigh excelled in 11 out of 13 categories, particularly shining in job and wage growth, affordable housing, and community resilience. The job growth rate in Raleigh from 2018 to 2023 averaged a whopping 15.5%, while wages have skyrocketed by over 47% in the same timeframe. Talk about an impressive boost!
Raleigh’s Population Boom
The population in Raleigh has seen a sizable surge of over 30% from 2010 to 2023, now climbing to around 1.5 million residents. This growth shows no signs of slowing down! Interestingly, North Carolina as a whole saw an increase of approximately 165,000 in population just for 2024, landing it in fourth place for state population growth.
Each year, the Raleigh area produces nearly 40,000 graduates, many of whom decide to stick around, injecting even more energy into the local economy. With three major academic institutions nearby, including the University of North Carolina at Chapel Hill, North Carolina State University, and Duke University, Raleigh has a rich talent pool to draw from, enabling it to keep progressing on multiple fronts.
Addressing Housing Affordability
Despite the flourishing economy and a booming job market, Raleigh is grappling with some challenges, primarily around housing affordability. Right now, there’s a projected shortfall of about 65,000 housing units to accommodate its growing population. This situation highlights the pressing concern of making housing accessible for everyone, especially as the median home price in Raleigh reached around $450,000 in November 2024, nearly 15% higher than the previous year.
City officials are noting that many essential workers are now commuting long distances due to rising housing costs, which is a significant issue they are looking to tackle. To combat these challenges, the city is actively working on strategies to increase affordable housing availability through bond funding and collaborations with local organizations. The emphasis is on creating smart growth strategies that not only support economic development but also meet the housing demands of its expanding community.
A Bright Future Ahead
In wrapping up, it’s evident that Raleigh’s leadership is keeping a keen eye on maintaining the city’s competitive edge while being supportive of its growing workforce. While the city celebrates its title as the top large city in America, it remains dedicated to resolving housing affordability challenges. This balanced approach will ensure that Raleigh continues to thrive and become an even better place to live for everyone in the community!
Deeper Dive: News & Info About This Topic
- ABC11: Raleigh Tops List of Best-Performing Large Cities in America 2025
- US News: Job Growth and Tech Spell Success for Carolina Cities
- News Observer: Opinion on Raleigh’s Economic Growth
- Aerospace Manufacturing and Design: Ralliant to Establish Global Headquarters in North Carolina
- US News: Raleigh Mayor Janet Cowell on Economic Success
- Wikipedia: Raleigh, North Carolina
- Google Search: Raleigh North Carolina Economy
- Google Scholar: Raleigh Job Market
- Encyclopedia Britannica: Raleigh
- Google News: Raleigh 2025
