2007-08 Adopted Plan - Wake County Public School System

Wake County DemographicsIncrease in Median Home PricesPercentage Increase from 1990 and 1998$194,98060%57%52%$200,000$180,000$150,00050%$160,00040%34%$140,000$120,000$98,50030%$100,000$80,00020%$60,000$40,00010%$20,0000%Household Income Apartment Rents Housing PricesSignifi cantly more people in 2000 were living in housing thatrequired more than 30 percent of their income than in 1990.In 2004, high rates of low and moderate income renters werepaying more than 30 percent of their income in rent: 87 percentof households earning less than $10,000 per year, 89 percentof households earning $10,000-$19,999, and 44 percent ofhouseholds earning $20,000-$34,999. A similar picture occursfor homeowners. Even higher rates of homeowners than renterswere paying more than 30 percent of their income on housing in2000: 70 percent of households earning less than $20,000 peryear, 56 percent of households earning $20,000-$34,999, and 44percent of households earning $35,000-$49,999.The median price of a home sold in Wake County climbed from$98,500 in 1990 and $150,000 in 1998 to $194,980 in 2005.$-1990 1998 2005EmploymentThe Raleigh-Durham area provides employment for over 94percent of its citizens who seek work. Over the past decade, theMSAs unemployment rate has been below the state and nationalrates. Since 1997, the Raleigh-Durham area has had the lowestunemployment rate of all North Carolina MSAs. The stableemployment base, anchored by universities, medical centersand government, has resulted in unemployment trends that havesmoother peaks and valleys than the state and national rates.With the infl ux of new residents and rising incomes, employmenthas changed signifi cantly since 1990. These changes are not onlyin rising levels of employment, but also structural changes in theemployment industries and occupations of Wake County residentsand in the industries and occupations of workers employed inWake County.Agriculture, retail trade, and wholesale trade all declined in totalemployment numbers between 1990 and 2000. The biggestincreases were in professional services, health care, andconstruction.383 FY 2007-08 Plan for Student Success