Everything you need to know about Research Triangle Park

November 28, 2024

North Carolina has become one of the popular moving destinations for many Americans and when you looking to decide where to live in NC, one of the regions that will come in most discussions is the Research Triangle Park, or RTP.

Located at the heart of the state, the Research Triangle Park is a beacon of research, technology, and collaboration. The synergy between academia and industry has turned RTP into a dynamic and sought-after destination.

Let’s get deeper into this region and try to understand if this be your next destination.

Geography

With an approximate area of 7000 acres, this thriving hub is strategically located between three major universities: Duke University in Durham, the University of North Carolina at Chapel Hill, and North Carolina State University in Raleigh.

Career Opportunities

The Research Triangle Park is home to 375+ companies, and 60,000+ employees, who are working in a variety of industries like biotechnology and healthcare, startups, pharmaceutical, energy, and environmental sectors.

Some of the big employers are:

  • IBM

  • Cisco Systems

  • University of North Carolina

  • Pfizer

  • Metlife

  • Harris Teeter

  • Epic Games

  • Red Hat

  • SAS Institute

  • Duke University

With many more coming in. Companies like Google and Apple shared plans to open offices in the Triangle area in the near future.

The median household income in the Triangle area is approximately $86,938 per year (source), which is around 20% higher than the national average.

Besides just the park area, Raleigh, Durham, and Chapel Hill each have their own unique economies and job markets. Given their proximity to each other, you’ll have easy access to job opportunities across the region.

Cost of living

As you consider making the Research Triangle Park (RTP) your home, it's essential to understand the cost of living in the area. So let’s get deep into some numbers, to make informed financial decisions.

Housing

As the RTP itself isn't a residential area, you’ll most likely be staying in a surrounding area. So your housing cost depends on which area you choose to live in. I listed some of the areas bellow for you to check out.

But just to give you an idea, on average, a one-bedroom apartment in the city center may cost around $1,300 to $1,800 per month, while a similar apartment outside the city center could range from $1,000 to $1,500 per month.

If you are planning to buy a home, The median single-family home price is around $450K.

Transportation

  • Gasoline prices in the RTP area average around $2.80 to $3.20 per gallon.

  • Public transportation, such as GoTriangle buses, offers affordable options, with a single fare costing around $2.25 and monthly passes ranging from $80 to $120.

Groceries

Depending on dietary preferences and shopping habits, a typical monthly grocery bill for a single person might range from $200 to $300.

Healthcare

Healthcare costs in the RTP area align with national averages. Comprehensive health insurance coverage for an individual can range from $300 to $600 per month, depending on the plan and provider. and A routine doctor's visit might range from $100 to $200 without insurance.

Education

If you are a parent of young children, one of your biggest concerns might be education. Good news for you, the RTP area offers diverse educational opportunities, from public schools to private institutions.

Annual tuition for private schools can range from $10,000 to $25,000, while in-state university tuition averages around $8,000 to $10,000 per year.

Utilities

  • Basic utilities (including electricity, heating, cooling, water, and garbage) for a standard 85m2 apartment might average around $150 to $200 per month.

  • Internet services can cost approximately $50 to $80 per month.

Things to do

The Research Triangle Park (RTP) and its surrounding cities offer a plethora of activities and attractions for residents and visitors alike. Whether you're interested in cultural experiences, outdoor adventures, or indulging in culinary delights, RTP has something for everyone.

Here's a curated list of things to do in the area:

  • Visit the North Carolina Museum of Art (Raleigh): Immerse yourself in a world of art with a visit to the NC Museum of Art. The museum features a diverse collection, including European, American, African, and modern art.

  • Discover the North Carolina Museum of Natural Sciences (Raleigh): Delve into the wonders of the natural world with interactive exhibits, live animals, and engaging displays. Perfect for a family day out.

  • Attend a Live Performance at the Durham Performing Arts Center (DPAC): Experience Broadway shows, concerts, and other live performances at the DPAC, a state-of-the-art venue in downtown Durham.

  • Enjoy the Raleigh City Market: Stroll through Raleigh's historic City Market, known for its unique shops, boutiques, and vibrant atmosphere. It's a great place to shop for local crafts and souvenirs.

  • Hike or Bike the American Tobacco Trail: Nature enthusiasts can explore the American Tobacco Trail, a scenic path for hiking, biking, and enjoying the outdoors.

  • Attend Festivals and Events: RTP hosts a variety of festivals and events throughout the year. From food festivals to cultural celebrations, there's always something happening in the region.

  • Take a Day Trip to Chapel Hill: Visit the charming town of Chapel Hill, home to the University of North Carolina. Explore the campus, stroll down Franklin Street, and soak in the collegiate atmosphere.

  • Attend a Sporting Event: Catch a basketball game at the Cameron Indoor Stadium (home of the Duke Blue Devils) or enjoy other sporting events in the area.

  • Taste Local Cuisine: Indulge in the diverse culinary scene. Try the renowned barbecue, enjoy farm-to-table dining, or explore international cuisines in the vibrant local restaurants.

  • Visit the Morehead Planetarium and Science Center (Chapel Hill): Discover the universe through engaging planetarium shows and interactive exhibits suitable for all ages.

  • Attend the NC State Fair (during the fall): Experience the excitement of the North Carolina State Fair, featuring rides, live entertainment, agricultural exhibits, and a variety of delicious fair foods.

  • Engage in Community Events: Keep an eye out for local farmers' markets, community fairs, and neighborhood events that provide opportunities to connect with the community.

Areas to live

The Research Triangle Park is surrounded by several vibrant cities and communities, each offering its own unique atmosphere, amenities, and lifestyle. Here are some of the surrounding areas you might consider for residential living:

Raleigh: The Capital City

Raleigh, the capital of North Carolina, is known for its diverse neighborhoods, cultural attractions, and a thriving tech scene. The city offers a mix of historic architecture and modern developments, providing residents with a range of housing options. With a youthful energy driven by universities and a booming job market, Raleigh is a great choice for those seeking urban living with a Southern charm.

Durham: A Hub of Innovation

Durham, often referred to as the "Bull City," is home to a rich history, vibrant arts scene, and a burgeoning food culture. With its revitalized downtown, Durham has become a hub for innovation and entrepreneurship. The city offers a mix of historic homes and modern apartments, making it an attractive option for those who appreciate both the past and the present.

Chapel Hill: Academic Elegance

Chapel Hill is renowned for its academic excellence, being home to the University of North Carolina at Chapel Hill. This charming town exudes a collegiate atmosphere and offers a mix of tree-lined streets, historic homes, and a lively downtown area known as Franklin Street. Chapel Hill is an ideal choice for those seeking a blend of intellectual pursuits and a relaxed lifestyle.

Cary: Family-Friendly Suburb

Cary, consistently ranked as one of the best places to live in the U.S., is a family-friendly suburb with well-planned neighborhoods, excellent schools, and abundant green spaces. The town provides a quieter residential setting while remaining close to the amenities of the larger cities in the Triangle.

Morrisville: Tech-Focused Community

Morrisville, located near the Raleigh-Durham International Airport, is a tech-centric community with a diverse population. Its strategic location makes it a popular choice for professionals working in the RTP. Morrisville offers a range of housing options and is known for its community parks and recreational facilities.

Holly Springs: Rapid Growth and Nature

Holly Springs is a rapidly growing town known for its well-planned communities, excellent schools, and a variety of outdoor amenities. Residents enjoy a balance between suburban living and easy access to nature, with parks and green spaces throughout the area.

Wake Forest: Historic Charm

Wake Forest, a town with historical significance, boasts tree-lined streets, historic homes, and a charming downtown area. The town's commitment to preserving its heritage is evident, making it an appealing choice for those who appreciate a blend of history and modern conveniences.

Conclusion

Hope this guide helped you to get a feel of the RTP area. if you are interested in knowing about different parts of the world, please join our newsletter👇🏼.

That’s all for this one, will see you next type. Bye Bye 👋.