Downtown Raleigh, Raleigh, NC—27601
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Downtown Raleigh, Raleigh, NC
As of Oct '25, the median home price in Downtown Raleigh, Raleigh, NC is $509,000, with a year-over-year change of -1.0%. This indicates that home prices in Downtown Raleigh, Raleigh, NC are decreasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $509,000 | -1.0% |
| Single Family | $527,000 | -0.9% |
| Condos | $472,000 | -1.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $353,000 | 1.1% |
2 Bed | $457,000 | -0.7% |
3 Bed | $563,000 | -2.1% |
4 Bed | $748,000 | -0.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Downtown Raleigh, Raleigh, NC
As of July '25, Rentcast reports the average rent in Downtown Raleigh, Raleigh, NC is $1,920, with a year-over-year rent change of -1.0%. Per bedroom, the median rent as of July '25 in Downtown Raleigh, Raleigh, NC is studios: $1,360, 1-bedrooms: $1,600, 2-bedrooms: $2,140, 3-bedrooms: $3,160, 4-bedrooms: $3,940. The most common rental property sizes in Downtown Raleigh, Raleigh, NC are 1-bedroom and 2-bedroom, accounting for 37.9% and 36.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,920 |
| Studio Rent | $1,310 | $1,360 |
| 1 Bed Rent | $1,560 | $1,600 |
| 2 Bed Rent | $2,250 | $2,140 |
| 3 Bed Rent | $3,000 | $3,160 |
| 4 Bed Rent | $4,000 | $3,940 |
% of Rental Stock
Property Listings — Downtown Raleigh, Raleigh, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Downtown Raleigh, Raleigh, NC is 61. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $648,000 | -4.0% |
Listing Count | 95 | -18.0% |
| Listings as % of Homes | 1.2% | -18.0% |
Days on Market | 61 | -12.0% |
Demographics — Downtown Raleigh, Raleigh, NC
As of the latest ACS Survey released in 2023, Downtown Raleigh, Raleigh, NC has a population of 9,700, which has decreased by -7.1% over the past 5 years. Downtown Raleigh, Raleigh, NC is a moderately popular place for families, as children make up 15.9% of the population. The area has a highly educated workforce, with 48.6% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 32.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,700 | -7.1% |
% Under 18 | 15.9% | 0.0% |
% Seniors | 7.0% | -30.7% |
% WFH | 32.3% | 275.6% |
% w/ College Degree | 48.6% | 24.9% |
As of the latest ACS Survey released in 2023, Downtown Raleigh, Raleigh, NC is a predominantly white area, with 42.7% of the population identifying as white. The white population has grown by 30.6% in the last 5 years. The second most common race or ethnicity in Downtown Raleigh, Raleigh, NC is black, making up 36.4% of the population. Foreign-born residents account for 7.6% of the population in Downtown Raleigh, Raleigh, NC, and this percentage has increased by 24.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 42.7% | 30.6% |
% Black | 36.4% | -35.5% |
% Hispanic | 10.5% | 54.4% |
% Asian | 3.9% | 62.5% |
% Foreign Born | 7.6% | 24.6% |
Mortgage and Risk — Downtown Raleigh, Raleigh, NC
According to HUD data as of 2023, there were 151 mortgage originations in Downtown Raleigh, Raleigh, NC, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Downtown Raleigh, Raleigh, NC. Investor activity is low, as 2.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 151 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 2.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Downtown Raleigh, Raleigh, NC
As of 2024, the percent of homes in Downtown Raleigh, Raleigh, NC under the Section 8 program is 9.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Downtown Raleigh, Raleigh, NC, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 798 |
Total Units Section 8 | 303 |
% Rentals under Section 8 | 9.6% |
% Occupied Section 8 | 94.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $120 | $1,560 | $1,680 |
| 2 Bedroom | -$390 | $2,250 | $1,860 |
| 3 Bedroom | -$690 | $3,000 | $2,310 |
| 4 Bedroom | -$880 | $4,000 | $3,120 |
Affordability — Downtown Raleigh, Raleigh, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.2 |
| Median Home Price | $509,000 |
| Median Household Income | $70,400 |