Where To Buy: North Carolina's Five Fastest Growing Job Markets

Where To Buy: North Carolina's Fastest Growing Job Markets

What are the best job markets in North Carolina? Here are the top five fastest-growing job markets in NC. 

North Carolina is growing at a speed much faster than the majority of other states in the nation. Over 500,000 new jobs are expected to be added to the NC economy between 2022 and 2032, representing a 10% job growth rate. 

North Carolina is home to 13 Fortune 500 company headquarters and dozens of facilities. Companies include Bank of America, Nucor, Duke Energy, Lowe's Companies, and Sonic Automotive. Many other companies are opening an East Coast hub in the Triangle, including Amazon, Walmart, Apple, and UnitedHealth.

No matter your education, background, career, or experience, North Carolina has more than enough jobs to go around. The unemployment rate has been trending down and is currently at 3.7%, meaning you can feel extremely comfortable in finding the perfect job, along with the perfect home in North Carolina. 

The Tar Heel State offers unprecedented opportunities for homebuyers looking to maximize both their lifestyle and investment potential. We have identified the five fastest-growing job markets that should be at the top of every savvy buyer's list. Here's your comprehensive guide to these economic powerhouses and the best neighborhoods to call home in each.

Keep reading to learn all about North Carolina's fastest-growing job markets.

1. Raleigh

Raleigh is the capital of North Carolina and is known for its booming job market, delicious restaurant scene, plethora of fun activities, and low crime rate. Raleigh leads North Carolina's employment growth with an impressive 2.5% increase in the second quarter of 2024, outpacing the national average.

The metro area has added nearly 39,000 technology jobs, representing a remarkable 62.3% growth rate, making it the second-fastest growing tech hub in the nation. The growth of the real estate industry is directly correlated with the booming tech scene in Raleigh. 

If you are interested in North Carolina's job market, Raleigh should be at the top of your list. Research Triangle Park is the largest research and science park in the state. Top companies with headquarters here include Microsoft, IBM, and Cisco. 

Raleigh's diverse economy and continued investment in innovation make it recession-resistant. The city's unemployment rate consistently runs below the national average, and the median household income continues to rise with the influx of high-tech professionals.

As a result of the growth in the Triangle area, North Carolina ranks among the top three states in the country for bioscience employment and has been the global leader in vaccine research and manufacturing. Raleigh is one of the country's most affordable places to live, with a median household income of $86,309. 

Top Industries:

• Technology & Software Development: Raleigh specializes in software publishing and computer systems design, with substantially higher GDP shares than the national average
• STEM Fields: Leading the nation with 39% growth in STEM-related positions, totaling nearly 50,000 jobs
• Biotechnology & Life Sciences: Home to Research Triangle Park, the largest research park in North America
• Education & Health Services: The fastest-growing employment sector in the region
• Government & Defense: State government and federal contractors provide stable, high-paying positions

2. Charlotte

As the second-largest banking center in the United States, Charlotte continues to attract major corporations and create high-paying jobs across multiple sectors. The metro area benefits from its position as a major transportation hub and its business-friendly environment.

As one of the nation's hottest job markets, Charlotte has an extensive industry base that continues to drive economic growth and stability. The median household income in Charlotte is $80,581. This may be slightly lower than Raleigh, but there are still plenty of job opportunities in Charlotte. 

Fortune 500 companies headquartered in the Charlotte Region include Bank of America, Lowe's, Honeywell, Nucor, Truist, Duke Energy, Sonic Automotive, and Albemarle. 

Charlotte's established financial sector provides stability, while emerging tech and healthcare industries offer growth potential. The city's international airport makes it attractive to global companies, ensuring continued job creation.

As you search for a new home in Charlotte, you can expect to find low housing costs and a low cost of living. This comfortable lifestyle and financial stability are what draw families and young professionals to the area. 

Top Industries:

• Banking & Financial Services: Home to Bank of America headquarters and major Wells Fargo operations
• Healthcare Systems: Atrium Health and other major medical networks drive employment growth
• Technology & Fintech: Rapidly growing sector with companies like LendingTree and AvidXchange
• Transportation & Logistics: Charlotte Douglas International Airport and major freight networks
• Energy Sector: Duke Energy headquarters and renewable energy companies

3. Durham

As part of the Research Triangle, Durham ranks high when it comes to job creation and innovation. The city has successfully transformed from a tobacco town into a biotechnology and research powerhouse, attracting top talent from around the world.

Durham is known for its universities, restaurants, friendly communities, museums, prime real estate, and fun things to do. Additionally, it is known as a hub for the technology and healthcare industry. 

As the home of Duke University, one of the best colleges in the country, the University and its students make the city something special. As it is a mid-sized city like Raleigh, Durham has a strong sense of community and a small-town feel. 

Durham offers the perfect blend of intellectual capital, cultural amenities, and growing job opportunities. The city's commitment to innovation and its partnership with world-class universities create a sustainable economic foundation.

If you are deciding between Raleigh and Durham, both are amazing options in the Triangle, especially if you are looking to further your career. 

Top Industries:

• Biotechnology & Pharmaceuticals: Major research facilities and biotech startups
• Higher Education: Duke University and North Carolina Central University drive the knowledge economy
• Healthcare & Medical Research: Duke Health System and other medical institutions
• Technology Startups: Thriving entrepreneurial ecosystem supported by university partnerships
• Professional Services: Consulting, legal, and business services supporting the research community

4. Greensboro

With a median household income of $58,884 and a diversified economic base, Greensboro offers stability and growth across multiple sectors. The city's central location and transportation infrastructure make it a logistics hub for the Southeast.

Greensboro is not as well-known for its job market as Raleigh, Durham, or Charlotte. However, it still has a healthier job market than similarly sized metro areas, which is why so many people love to call Greensboro home. 

Greensboro's economic diversity provides stability during economic downturns, while its lower cost of living compared to Raleigh and Charlotte offers excellent value for homebuyers. The city's investment in downtown revitalization is driving property appreciation.

The top industries in the Greensboro area include aerospace, innovative manufacturing, supply chain logistics, life sciences, and specialized business services. It is also a major center for the textile industry, home to the headquarters of Elevate Textiles and VF Corporation. 

Retail and wholesale trade, finance, insurance, and real estate are also flourishing in Greensboro. The top companies in Greensboro include Procter & Gamble, Volvo Trucks, The Fresh Market, and Qorvo. The top employers are Guilford County Schools and Moses H. Cone Memorial Hospital. 

The area is home to the University of North Carolina at Greensboro, which has many job openings and opportunities. This is an amazing option for schooling if you are interested in undergraduate or graduate studies.

Top Industries:

• Aerospace & Defense: Major manufacturers and suppliers
• Advanced Manufacturing: Innovation in traditional manufacturing processes
• Supply Chain & Logistics: Strategic location for distribution centers
• Life Sciences: Growing biotech and pharmaceutical sector
• Specialized Business Services: Back-office operations for major corporations

5. Cary

Cary ranked 3rd among the best U.S. job markets in 2024, according to SmartAsset's comprehensive study. This remarkable achievement reflects the town's transformation from a bedroom community into an economic destination in its own right.

Cary is a rapidly growing town with many opportunities for work, real estate, and fun. Home to several world-class businesses, Cary is one of the fastest-growing towns in North Carolina. The largest employer in Cary is SAS Institute Inc., the largest privately held software company in the world. 

Many other large companies are in Cary, like Epic Games, Deutsche Bank, American Airlines, LORD Corp., Verizon, John Deere, Kellogg's, and Siemens. As a smaller town, Cary has an extremely friendly community and many safe neighborhoods. 

Cary offers the rare combination of suburban amenities with urban job opportunities. The town's exceptional schools, low crime rates, and family-friendly environment attract high-income professionals, ensuring strong property values and continued economic growth.

Top Industries:

• Technology & Software: Major tech companies have established significant operations
• Corporate Headquarters: Many companies relocate their headquarters to benefit from Cary's quality of life
• Healthcare & Life Sciences: Growing sector with proximity to Research Triangle Park
• Professional Services: High concentration of consulting and business services firms
• Education Technology: Intersection of education and technology sectors

Methodology

Data was sourced from the U.S. Census Bureau, the North Carolina Department of Commerce, and Wake County Economic Development to determine the fastest-growing job markets in North Carolina. 

FAQs

What jobs are in demand in NC?

The mathematical and computer, healthcare support, and personal care and service occupation groups are projected to grow the fastest in NC between 2018 and 2028. These fields include jobs like public health, registered nurse, retail sales associate, nursing assistant, and customer service representative. 

What city in North Carolina has the most job opportunities?

Raleigh tops Charlotte as the city in North Carolina with the most job opportunities. However, both have hot job markets with plenty of opportunities in several fields. 

What is the job growth outlook in NC?

According to NC Commerce, service-providing industries are projected to grow from 3,846,200 jobs to 4,238,500 jobs from 2021 to 2030. This accounts for an annualized growth rate of 1.08%, greater than the annualized growth rate of all industries and faster than many other industries, including the goods-producing industries (0.61%). 

What is the fastest-growing career in North Carolina?

North Carolina is full of many fast-growing careers. However, the professional, scientific, and technical services industry is forecasted to be the fastest-growing industry with 15.8% growth. 

North Carolina's Fastest Growing Job Markets - The Bottom Line

Understanding job markets is crucial, but navigating these competitive real estate markets requires expertise.

Raleigh, the Research Triangle area, and Charlotte have consistently ranked among the nation's best economies year after year. The rates of unemployment and per capita income remain at all-time highs. 

Many major cities in NC have been gaining popularity and jobs. In addition, North Carolina has something to offer everyone: natural beauty, southern hospitality, and fun things to do. If you want more affordable housing options, many wonderful suburban towns around each of these cities will give you easy access to city amenities. 

Whether you're relocating for a new job, looking to upgrade in your current market, or seeking investment opportunities, we're here to guide you through North Carolina's most dynamic real estate markets.

Contact us today to start your journey toward finding the perfect home in one of America's fastest-growing job markets. Your dream home and career growth await in the heart of the South's economic boom.