The SHOCKING TRUTH about Raleigh NC’s Future Growth

Population

Let’s start with looking at population trends and predictions.  We went back to find the population of Raleigh and its’ major suburbs all the way back to 2005, and projected the 2035 population by continuing the growth that has occurred over the past 10 years with some minor modifications.

Starting with Raleigh, there was a major jump between 2005 and 2015, which correlates with Raleigh beginning to get the national recognition as one of the best places to live. 

Raleigh is still one of the fastest growing metros in the nation, but the percent increase over the past 10 years of around 10% is much more realistic when looking towards the future, which leads us to project the population at around 540k people in 2035.  

Looking at the suburbs, Cary also experienced a rapid growth between 2005 and 2015, and then slowed over the past 10 years.  That is partially because Cary is essentially out of room for adding new neighborhoods, and has recently begun the shift to more apartments and condos.  This shift allows for Cary to continue its’ rapid growth through 2035. 

Apex is another suburb growingly rapidly and hasn’t shown any signs of slowing down, as the town itself has projected a population of around 120k by 2035.

Clayton and Fuquay-Varina are projected to grow at the greatest pace as there is still plenty of land to develop as new neighborhoods continue to pop-up, and they will see a major boost from the completion of I-540.  And Fuquay-Varina’s projection actually puts it at Raleigh’s third largest suburb, jumping over Wake Forest and Holly Springs, so that will be interesting to track.

Holly Springs and Wake Forest both grew substantially between 2005 and 2015 and slowed down slightly over the past 10 years, but they are both projected to grow incredibly fast and be among the most popular suburbs of Raleigh by 2035.  

On the east side of Raleigh, Knightdale has shown fairly steady growth overall and Wendell has been surging as of late.  While Knightdale continues to grow, I wouldn’t be surprised if Wendell does in fact surpass Knightdale.

So in 2035, we will see the continued growth of Raleigh’s suburbs, with a focus on Clayton, Fuquay-Varina, and Wendell seeing some of the greatest growth, and suburbs like Youngsville, Angier, Zebulon, and more will start to see their numbers grow as people look to stay on the outskirts of development.

Development and Entertainment

Next up, let’s take a look at the projections for new commercial development in the Raleigh area, and this category is certainly more objective than the others.  

Raleigh over the next 10 years is projected to see substantial development, especially in the mixed-use developments around downtown, North Hills, and the Lenovo Center.  Check out our blog on the major developments re-shaping Raleigh to learn more. 

I believe that Cary will not only continue to see development downtown, but we will continue to see more parks and mixed-use shopping centers pop-up around the area.  Cary will ultimately feel even more like its’ own town vs a suburb of Raleigh.

Apex, Holly Springs, and Wake Forest will be similar in that they will look to add and renovate around their downtown areas, and look at mixed-use shopping and living centers with their own entertainment.  Wake Forest will likely be slightly behind the others, but has plans for a new Costco and UNC hospital.

Clayton and Fuquay-Varina will be similar in that we will see development, but I don’t expect them to be filled out quite like the other major suburbs as there is still a greater focus on neighborhood development vs commercial.  However, the Waterfront District in Clayton will be a game-changer for the area.

Knightdale will continue its’ mixed-use development built out from the Knightdale Station area, and Wendell will start to see land development outside of just Wendell Falls.

So naturally, development will continue and for many of these suburbs, land will start to become scarce, thus pushing for the beginning of the surge of the further out suburbs like the previously mentioned Youngsville, Angier, and Zebulon, as well as Pittsboro.  

And in my opinion, Angier and Pittsboro are the two that will see the most new development as their surrounding suburbs begin to fill up the quickest.

Real Estate Predictions

Now let’s take a look at the last category involving real estate predictions, but before we do, if you are ever in need any real estate assistance in the greater Raleigh area, we have one of the top teams in Raleigh and would love to help you (contact information below)!

We all know that Real Estate prices surged during the pandemic, but have since returned closer to normal as you can see the last couple years showing a similar trajectory in average prices from the pre-pandemic era.  So we calculated the 2035 prices generally using the growth rate from 2005 – 2015.  

For Raleigh itself, we went from $257k in 2015 to nearly $600k in 2025.  That’s crazy!  But as we return closer to historical norms, we see a predicted average price of just under $700k with an average price per square foot of $293.  I can honestly see the price per square foot actually being higher than predicted as many of the older, smaller homes are continually knocked down for expensive, new construction homes.

Apex, Cary and now Holly Springs will continue to be the most expensive areas around Raleigh.  I could see Apex being slightly higher than $800k, but I believe Cary’s $900k is pretty close as Cary is shaping up to be the next big house “flipping” area of the Triangle, replacing lower cost homes with expensive, new construction homes.  This will also keep the prices per square foot on the high end.

Holly Springs is a little unique in that it’s mostly made up of “newer” neighborhoods that are close to its’ average prices, whereas Apex and Cary have more luxury communities but also many smaller homes.  I expect Holly Springs to add more luxury neighborhoods, but not at a significant pace.

And Wake Forest will increase to the mid-$700ks while maintaining a relatively affordable price per square feet for the area for what you get from an amenity standpoint; however, I do believe this estimate to be a little low and wouldn’t be surprised if Wake Forest was closer to $800k and $260 per square foot given all the development planned.

Clayton and Fuquay-Varina have already seen a divergence in affordability and that will continue, as Clayton will remain relatively affordable to the area, but Fuquay-Varina will see a major boost due to its’ development and proximity to both I-540 and RTP.

Knightdale, Wendell, and Roseville will continue the upward trend that they’ve experienced over the the past couple of years, and I could honestly see Knightdale being slightly less than $644k while Wendell potentially even surpassing Knightdale by 2035 despite the projections shown.

So prices will continue to rise across the board, but at pre-pandemic rates, and we will see changes near the top with Holly Springs, Fuquay-Varina, and likely Wake Forest increasing more relative to the others.

Clayton, Knightdale, and Garner will remain more affordable options as they are today, but I would anticipate Clayton to start increasing greater than predicted here in the 2030s as I-540 is completed, and the planned developments are built.

So those are our predictions for what the Raleigh area will look like in 2035.  What do you think?

Now if you want to find the best places to live in Raleigh, check out our blog and for information on Raleigh’s suburbs, check out our breakdown of Raleigh NC suburbs.

If you need help finding your next home in Raleigh, Durham, or anywhere else in the triangle, our team at the W Real Estate Group would love to help!