The Raleigh vs. Charlotte Comparison You Need Before Moving

If you are considering moving to North Carolina, you may be looking at the two largest cities: Charlotte and Raleigh. Both of these North Carolina cities offer residents a great quality of life and plenty of activities for families, young professionals, and active adults alike.

You’re probably wondering, “Is Raleigh or Charlotte a better place to live?” That is up to you to decide, but I have created this Raleigh vs. Charlotte comparison guide to help you determine which city is right for you. Read on to learn more about the cost of living, job market, entertainment opportunities, the housing market, and more in Raleigh vs. Charlotte, North Carolina.

Moving To Raleigh vs. Charlotte: Pros and Cons

Raleigh is nicknamed the “City of Oaks” for its tree-lined streets and ample greenspaces. If you are looking to relocate to Raleigh, you will find a more suburban feel than in Charlotte with room to grow your family.

We are going to take a look at several pros and cons of these two cities and compare the costs of living, job markets, entertainment opportunities, and housing markets.

Pros of Living in Raleigh

• Raleigh has many amazing neighborhoods and top of the line golf course communities
• Rated #1 Among America’s Best Places to Live in 2022 – Bankrate, January 2022
• Raleigh is home to the Research Triangle Park, the tech hub of the South
• Raleigh’s natural beauty is unmatched with its many lakes, nature trails, and parks
• It has many family-friendly features and a relaxed, small-town atmosphere
• More centralized location for short trips to the mountains or the beach
• It has the “Big 3” most well-known universities in North Carolina – Duke University, UNC-Chapel Hill, and NC State University in its backyard

Cons of Living in Raleigh

• With so much greenery and nature trails in its backyard, the high pollen count during the spring and fall seasons can be pretty miserable for people suffering from seasonal allergies

Pros of Living in Charlotte

• Charlotte’s finance and business service job markets are thriving
• It has a bigger city feel if that is what you are looking for in your new home
• There are nine different colleges within Charlotte, NC
• Charlotte has several historical districts with beautiful Victorian-era architecture

Cons of Living in Charlotte

• The job market is narrower, with most jobs only in finance or business services industries
• There’s more traffic than you would likely encounter in Raleigh

Raleigh vs. Charlotte Living Comparisons

Now that you know a few of the pros and cons of Raleigh vs. Charlotte, let’s dig into the details of their costs of living, job markets, entertainment opportunities, and housing markets.

Raleigh Cost of Living

The cost of living in Raleigh is overall just a smidge higher than the national average. Health and transportation costs, however, are lower than the national average. Residents of Raleigh enjoy an average annual salary of $70K according to Payscale.com.

Charlotte Cost of Living

Charlotte offers residents a slightly lower cost of living. The rates of Raleigh vs. Charlotte are very comparable in terms of cost of living. According to Payscale.com, the average annual salary in Charlotte is also $70K.

Raleigh Job Market

The North Carolina Technology Association’s IT Job Trends report showed a 43% jump in Raleigh job openings from 2020 to 2021. It is part of “The Research Triangle” which includes Raleigh, Durham, and Chapel Hill.

While there are many jobs in technology, there are also several other major sectors including manufacturing, education, health services, and business. The Raleigh unemployment rate is sitting at 4.3% in 2022, which is significantly lower than the national average rate of 6%.

Charlotte Job Market

The finance and business services job marketing in Charlotte is booming. In fact, it added 30% more tech jobs in the last five years. With these exciting opportunities in the business services sectors comes a lack of jobs in other industries. The Charlotte unemployment rate is lower than the 6% national average but is slightly higher than Raleigh at 4.9%.

Raleigh Entertainment

With a population of around 4.6 million –– a little over half of Charlotte’s population of 8.5 million –– Raleigh has a small-town feel with a greater sense of community. Don’t mistake this as meaning there is little to do. In fact, it’s quite the opposite –– you’ll never run out of things to do in Raleigh!

Raleigh has a popular craft brewery scene, lots of local restaurants, and plenty of community events such as the Wide Open Bluegrass Festival, Triangle Restaurant Week, Brewgaloo, and Food Truck Rodeo. It is home to the Marbles Kids Museum, the North Carolina Museum of Art, the Juniper Level Botanic Garden, and much more.

Charlotte Entertainment

Charlotte is also filled with entertainment and dining opportunities. It is home to the NASCAR Hall of Fame, BB&T Ballpark, Discovery Place, and the famous Carowinds amusement park. There are several impressive gardens to walk through such as Daniel Stowe Botanical Garden and the UNC Charlotte Botanical Gardens.

The downtown area offers plenty of nightclubs, bars, and music venues for young professionals to mingle. The “Queen City” also has a strong brewery culture and many people go on brewery crawls on the weekends. The South End and Plaza Midwood are two places with concentrations of breweries.

Raleigh Housing Market

As of March 2022, the median home price in Raleigh is around $415,000. The housing market is competitive and housing prices have increased 28% in 2021, and 19% in 2020. Many people are making the move to Raleigh since it is a fantastic place to live for people of all ages. The current market’s sales-to-list price ratio is at 109% –– meaning most homes sell for close to 10% more than what they were listed at.

Charlotte Housing Market

The median home price in Charlotte sits slightly below Raleigh at around $350,000. Charlotte’s housing market is hot for investors in 2022. Many investors are buying and flipping homes to earn a profit. Homes sell quickly and prices continue to rise due to the short supply of homes available.

Following the impact of the pandemic, housing prices in both cities have gone up, while the number of house listings has decreased. This downward movement is not limited to these cities but rather follows the nationwide trend.

So now that you’ve read about Raleigh vs. Charlotte, it’s time to decide which is right for you. If you want more resources about Raleigh and the surrounding areas, visit the Oak Springs Realty blog.

Find Your New Home in Raleigh With Oak Spring Realty

I’m Lily Yu with Oak Spring Realty in the Triangle area of North Carolina. If you’ve decided that Raleigh seems like the best fit for your needs, contact me. I am a Realtor® and can help you through the home buying process in Raleigh. I’ll show you the best neighborhoods in Raleigh and ensure you find the home you’ve been searching for.

With a background in investing and real estate, I will ensure the process runs as smoothly as possible. Schedule a free consultation with me to chat about what you are looking for in your new home in Raleigh.