Raleigh Retail Market Report

Demographic growth drives leasing activity. Raleigh-Durham-Chapel Hill entered the second half of 2026 tied for the tightest vacancy across major U.S. markets at 3.0 percent. At the same time, the metro's population growth continued to rank among the nation's strongest. That demographic momentum is evident in retailers' location preferences. Franklin and Johnston counties, which have ranked among North Carolina's five fastest-growing counties since 2020, continue to attract new projects while maintaining vacancy rates of 1.0 and 2.4 percent, respectively, in the second quarter.