Dubbed the ‘Smithsonian of the South,’ the city of Raleigh is filled with oak-lined streets, art museums, and a diverse, down-home food scene that attracts travelers from all backgrounds.
Nearly 16 million visitors flock to Raleigh each year to also get a taste of Southern culture and take in nature’s scenery via thousands of park acres (including North Carolina’s longest hiking trail). These unique draws are exactly why a Raleigh real estate investment is an opportunity worth exploring.
To help you understand the earning potential this charming market presents, we created a free, downloadable vacation rental market analysis.
Inside you’ll find:
The findings in this analysis are based on Evolve’s Raleigh market averages in the last 12 months and provide a general baseline for performance potential. They’re designed to help inform smart buying decisions when exploring the Raleigh rental market.
With over a dozen museums and kid-friendly attractions — including Marbles Kids Museum and the North Carolina Museum of Natural Sciences — Raleigh tends to draw in lots of families (especially during school breaks). However, adults-only groups can also find plenty to do thanks to Raleigh’s nightlife scene, must-try restaurants, and live sporting events.
Annual occupancy for short-term vacation rentals in Raleigh tends to remain relatively steady throughout the year, with demand dipping off a bit in both early and late winter months — making a Raleigh real estate investment a good contender for more stable vacation rental income.
The current average home price in Raleigh sits just over $430,000, making it slightly more expensive than the median national average. Compared to other North Carolina hotspots like Outer Banks or Asheville, though, Raleigh offers more affordable options.
Raleigh presents a variety of real estate options for buyers to scoop up. To get a better understanding of how you can earn with a Raleigh investment property, consider these important factors.
According to our data, four-bedroom Raleigh vacation rentals that can accommodate large groups or families tend to stay the most booked throughout the year. Unsurprisingly, four- and five-bedroom homes also tend to bring in the most annual income.
However, smaller property sizes also see steady occupancy throughout the year. This gives investors options to choose from during a search for the perfect Raleigh real estate investment.
It’s important to keep location in mind when deciding on your Raleigh investment property. Overall, our real estate experts recommend looking for homes with proximity to top entertainment picks or easy access to nature.
For example, Raleigh visitors seek out homes with proximity to the North Carolina Museum of Art, live music venues, and PNC Arena. But if you want to appeal to guests traveling for Family Weekend at one of the local universities, then a short commute to campus is something to look for during your property search.
In general, many five-star reviews from guests specifically mention that they like walkability when staying in Raleigh vacation rentals. So if you’re able to scoop up a home in a central location, even better.
Since Raleigh boasts comfortable year-round temperatures, travelers will appreciate an updated outdoor space they can relax in. Think cozy seating, protection from the sun, and even a hot tub or fire pit to really wow your guests.
Inside your home, be sure to include all the top-booked amenities to help give your performance a boost. And remember, many Raleigh visitors are families, so providing appropriate amenities can further boost your home’s appeal. You might even consider making your property pet-friendly to draw in bookers with furry friends.
Every year, Raleigh attracts millions of travelers with its timeless North Carolina charm, making it a great option to explore for a real estate investment.
Whether you’re thinking about buying a vacation rental or capitalizing on the potential of an existing home, download our free Raleigh Area Vacation Rental Market Analysis today to help make your journey smoother. It’s full of useful insights, including:
Use our free report to equip yourself with key industry knowledge and help make buying a Raleigh investment property as breezy as an afternoon stroll through Museum Park.