Increased Living Expenses in Raleigh Causes Mass Development in Nearby Town


Raleigh is constantly ranked as one of the best American cities to live in because of the access to quality schools, restaurants, museums, historical sites, and more. Due to this, Raleigh’s population has grown 15.8% in the last ten years, meaning that housing market prices have greatly increased and will continue to do so.

Home values in Raleigh have increased by 28.8% over the last year due to gentrification, population growth, and overall living expenses going up. The average cost of a home is $380,000. The average income of a household in Raleigh is about $94,000, so many can essentially afford homes, but this doesn’t take bills, gas, food, and other expenses into account. The problem is the lack of homes available. They’re selling faster and only on the market for about a month on average. Because of the lack of housing in Raleigh and the increase in population, smaller towns nearby are having to pick up the slack, where homes and apartments are being developed in mass. 

Wendell is a town about 20 minutes away from downtown Raleigh. In 2020, it had a population of 9,356 and in 2021, because of the sharp increase, its population rose to 10,135. By definition, Wendell is a small town, but it may not be that way for much longer. 

Wendell Falls, a borough within Wendell, recently closed on a multi-family development plan with The Spectrum Companies and FCA Partners to offer 315 new apartment units and 50 new townhomes. This is planned to be surrounded by stores like Target and Publix, restaurants, parks, public pools and more. The features within these rental apartments and townhomes used to only be seen in houses that people purchase and plan on spending a long time living in. Because of the lack of available living space, houses specifically, in Raleigh, these features and amenities are being put into apartments and townhomes. Wendell Falls’s new prices for a townhome ranges between  $320,000 to $620,000, while Raleigh’s is $380,000. Raleigh’s apartment rent price is an average of $1,500. Wendell’s apartment rent price ranges between $1,700 and $3,900 a month. Even with prices going up, they’re on the expensive side, especially for Wendell. 

Population increase and available home decreases in Raleigh are greatly affecting towns nearby like Wendell. This new mass development of homes is likely to change the pace, as well as other aspects, of Wendell.