Winston-Salem to Raleigh, North Carolina - Urban Growth Corridor Deep Dive

A deep dive market analysis of the transit-oriented urban growth corridor located between Winston Salem, NC and Raleigh, NC with supporting data for why this corridor will continue to

Urban Growth Corridor Overview

Geographic Description

List of Associated Municipalities

  • Winston Salem, NC

  • Kernersville, NC

  • Greensboro, NC

  • Sedalia, NC

  • Whitsett, NC

  • Burlington, NC

  • Gibsonville, NC

  • Elon, NC

  • Graham, NC

  • Alamance, NC

  • Haw River, NC

  • Green Level, NC

  • Swepsonville, NC

  • Mebane, NC

  • Hillsborough, NC

  • Durham, NC

  • Morrisville, NC

  • Cary, NC

  • Raleigh, NC

List of Associated Counties

  • Alamance County

  • Chatham County

  • Durham County

  • Forsyth County

  • Guilford County

  • Orange County

  • Wake County

Traffic (along I-85 and I-40)

Prominent Local Universities (within or near this corridor)

  • Wake Forest University

  • Duke University

  • Elon University

  • University of North Carolina Chapel Hill

  • University of North Carolina Greensboro

Local High Schools

Largest Local Employers (Private Sector)

County Name

Year

Company Name

Industry

Class

Employment Range

Alamance County

2024

Laboratory Corporation Of America H

Health Care and Social Assistance

Private Sector

1000+

Alamance County

2024

Alamance Regional Medical Center

Health Care and Social Assistance

Private Sector

1000+

Alamance County

2024

Elon University

Educational Services

Private Sector

1000+

Alamance County

2024

Wal-Mart Associates Inc

Retail Trade

Private Sector

1000+

Chatham County

2024

Carolina Meadows Inc

Health Care and Social Assistance

Private Sector

250-499

Chatham County

2024

Mountaire Farms Inc

Agriculture Forestry Fishing and Hunting

Private Sector

250-499

Chatham County

2024

Galloway Ridge Inc

Health Care and Social Assistance

Private Sector

250-499

Durham County

2024

Duke University

Health Care and Social Assistance

Private Sector

1000+

Durham County

2024

Fidelity Workplace Investing Llc

Finance and Insurance

Private Sector

1000+

Durham County

2024

Cisco Systems Inc

Management of Companies and Enterprises

Private Sector

1000+

Forsyth County

2024

Wake Forest University Baptist Medi

Health Care and Social Assistance

Private Sector

1000+

Forsyth County

2024

Forsyth Memorial Hospital Inc

Health Care and Social Assistance

Private Sector

1000+

Forsyth County

2024

Novant Health Inc

Health Care and Social Assistance

Private Sector

1000+

Forsyth County

2024

Wake Forest University

Educational Services

Private Sector

1000+

Guilford County

2024

Moses H Cone Memorial Hospital Oper

Health Care and Social Assistance

Private Sector

1000+

Orange County

2024

Rex Healthcare Inc

Health Care and Social Assistance

Private Sector

1000+

Wake County

2024

Wake Medical Health & Hospitals

Health Care and Social Assistance

Private Sector

1000+

Wake County

2024

Rex Healthcare Inc

Health Care and Social Assistance

Private Sector

1000+

Wake County

2024

Amazon.com Services Inc

Transportation and Warehousing

Private Sector

1000+

Population & Median Household Income

Muni. Names

Population 2020 (Census)

Population 2023 (ACS)

Population 2025 (Forecast)

Population 5-Y CAGR

Median Household Income 2020 (Census)

Median Household Income 2023 (ACS)

Median Household Income CAGR

Winston-Salem

249,567

251,350

252,975

0.27%

$55,772

$57,673

1.12%

Kernersville

26,449

28,016

28,449

1.47%

$56,991

$69,923

7.05%

Greensboro

299,035

302,296

305,293

0.42%

$49,492

$61,747

7.65%

Sedalia

676

685

695

0.56%

$56,991

$78,750

11.38%

Whitsett

584

593

599

0.51%

$56,991

$66,625

5.34%

Burlington

57,303

60,032

61,189

1.32%

$45,587

$54,941

6.42%

Gibsonville

8,920

9,496

9,460

1.18%

$77,500

$105,981

11.00%

Elon

11,336

11,520

11,797

0.80%

$69,085

$82,717

6.19%

Graham

17,157

18,354

19,088

2.16%

$41,499

$54,783

9.70%

Alamance

988

1,028

1,067

1.55%

$89,688

$88,438

-0.47%

Haw River

2,252

2,348

2,442

1.63%

$40,149

$67,366

18.83%

Green Level

3,152

3,293

3,434

1.73%

$33,938

$54,020

16.76%

Swepsonville

2,445

2,535

2,633

1.49%

$65,802

$94,028

12.63%

Mebane

17,797

20,212

21,315

3.67%

$61,213

$84,312

11.26%

Hillsborough

9,660

9,757

9,719

0.12%

$65,591

$98,467

14.50%

Durham

283,506

296,186

303,473

1.37%

$61,962

$80,064

8.92%

Morrisville

29,630

31,703

32,337

1.76%

$100,495

$125,404

7.66%

Cary

174,721

180,010

180,296

0.63%

$107,463

$129,607

6.44%

Raleigh

467,665

482,295

500,372

1.36%

$69,720

$86,309

7.37%

Recent Commercial Real Estate Catalyst Projects

Conclusion

High-quality roadway and rail infrastructure, multiple prestigious universities, an in-place educated workforce, available housing, significant recent inbound investment, and a favorable geographical location make the Winston-Salem to Raleigh subregion one of the most attractive transit-oriented urban growth corridors in the US.

In Epum’s opinion, North Carolina is the next Texas. Due to its attractive location on the east coast and its strong in-place fundamentals, we believe that North Carolina will continue to flourish for years to come with the entire Charlotte to Raleigh regional corridor having the potential to eventually become one contiguous urban agglomeration.

Learn more about Epum: https://www.epum.com/

What to watch out for: The S-Line Raleigh to Richmond Rail Project

“The S-Line Raleigh to Richmond, or R2R, ​project involves the development, implementation, and operation of passenger rail service on the Southeast Corridor.​

This rail service will provide future high-performance passenger rail services connecting communities from Raleigh to Richmond, Va. Since its formation, the Federal Railroad Administration has recognized the importance of high-performance rail in the U.S. In 1992,​ the Southeast Corridor were the first routes connecting Charlotte, Raleigh, Richmond and Washington, D.C.

The project is being done in​ partnership between the N.C. Department of Transportation and the Virginia Rail Passenger Authority.“