The Milken Institute has released its Best-Performing Cities 2026 report. Once again, North Carolina’s largest metros rank near the top among large U.S. cities.
For those who track economic fundamentals over multiple years, the takeaway is consistent: both Raleigh and Charlotte remain high-performing, diversified regional economies.
Raleigh–Cary: Top 5 Among Large Metros
Raleigh–Cary ranks #5 among Tier 1 large cities in this year’s report. The region continues to show strong long-term job and wage growth, supported by:
- A diversified high-tech sector
- Research institutions in the Triangle
- Life sciences and advanced manufacturing
- Professional and financial services
While short-term growth metrics moderated somewhat, the multi-year trend remains favorable. Raleigh has now established a pattern of sustained performance rather than a single-cycle spike.
The report also notes increasing pressure on housing affordability. That development is not unique to Raleigh; it is common among fast-growing metros. The practical implication is straightforward: continued population growth requires continued housing supply.
Charlotte: A Stable Top-Quartile Performer
Charlotte–Concord–Gastonia ranks #23 among Tier 1 large metros, placing it comfortably within the top quartile nationally.
Charlotte’s economy remains anchored by:
- Financial services
- Energy and advanced manufacturing
- Logistics and distribution
- A growing professional services base
Population growth in the Charlotte region continues to extend outward into surrounding counties and across state lines.
The Charlotte–Greenville Dynamic
An important regional factor is the proximity between Charlotte and Greenville. The I-85 corridor increasingly functions as a connected economic region rather than isolated metros.
Workforce mobility, supplier networks, and residential growth span the North Carolina–South Carolina border. As a result, housing and retail demand often extend beyond core urban boundaries into secondary and tertiary markets along the corridor.
For investors, this broadens the geography of opportunity.
Why the Milken Rankings Matter
The Milken Institute evaluates metros using measurable economic indicators, including:
- Job growth (short- and long-term)
- Wage growth
- High-tech GDP concentration
- Economic resilience
These indicators correlate with population growth and household formation—two primary drivers of demand for apartments and neighborhood retail.
Raleigh and Charlotte have now demonstrated multi-year consistency across these metrics. That consistency reduces reliance on a single industry or short-term surge.
From a real estate perspective, the logic is practical:
- Employer growth increases jobs.
- Job growth supports in-migration.
- In-migration supports housing demand.
- Growing households support local retail.
The 2026 report reinforces that both Raleigh and Charlotte remain structurally strong large-city economies.
For long-term investors, sustained economic depth is more important than year-to-year fluctuations. By that measure, both metros continue to perform well.
Phil Neari, CPM, is a graduate of the University of Northern Colorado and has been active in the commercial real estate and property management business for over 30 years. He holds the prestigious Certified Property Manager designation (CPM) awarded by the Institute of Real Estate Management and is a Licensed Real Estate Broker in North Carolina, South Carolina, Virginia, Tennessee, and Texas. Phil is a member of the International Council of Shopping Centers (ICSC), Institute of Real Estate Management (IREM) and the National Association of Realtors (NAR). Phil is Broker in Charge of our Winston-Salem office and oversees property management and leasing activities. He also provides advisory services to select buyer and tenant representation clients as well as identifies potential investment and development properties.