Raleigh/Cary Population Soars

The Raleigh-Cary Metropolitan Statistical Area has grown yet again according to the U.S Census, which places the population at more than 949,000. The 12th fastest growing area in the U.S. for the 12 month period ending July 1, 2005, the population expanded by 3.8% to 949,681.

The area has grown by 18% since a population estimate of 804,139 in 2000, which ranks the area 10th in the nation in growth in that period of time.

The Raleigh-Cary ranks as the 51st largest MSA in the nation for the second year in a row after moving up from 54 in 2003.

Steven W. Nelson, a local realtor, stated that this continued growth will translate into a continued growth in the real estate market in this area. "As we continue to grow, the result will be a real etate boom that will continue to grow steadily. We haven't experienced the double digit growth in real estate prices like many major cities in the U.S., but the steady growth is more sustainable and less likely to result in a bursting of the real estate bubble in Raleigh."

During this same time, the Triangle's other major MSA has seen sustainable growth that has resulted in a 7% increase since 2000 with a population in Durham of 456,187. It ranks 103rd in the nation.