Caraleigh, Raleigh, NC—27603
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Caraleigh, Raleigh, NC
As of Oct '25, the median home price in Caraleigh, Raleigh, NC is $411,000, with a year-over-year change of -2.7%. This indicates that home prices in Caraleigh, Raleigh, NC are decreasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $411,000 | -2.7% |
| Single Family | $412,000 | -2.6% |
| Condos | $389,000 | -5.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $346,000 | -3.4% |
2 Bed | $322,000 | -4.5% |
3 Bed | $388,000 | -3.5% |
4 Bed | $556,000 | -1.1% |
| 5 Bed | $635,000 | -1.1% |
% of Housing Stock
Rental Trends — Caraleigh, Raleigh, NC
As of July '25, Rentcast reports the average rent in Caraleigh, Raleigh, NC is $1,830, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Caraleigh, Raleigh, NC is studios: $1,380, 1-bedrooms: $1,490, 2-bedrooms: $1,930, 3-bedrooms: $2,240, 4-bedrooms: $2,550. The most common rental property sizes in Caraleigh, Raleigh, NC are 2-bedroom and 3-bedroom, accounting for 36.4% and 30.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,830 |
| Studio Rent | $1,380 | $1,380 |
| 1 Bed Rent | $1,520 | $1,490 |
| 2 Bed Rent | $1,800 | $1,930 |
| 3 Bed Rent | $2,050 | $2,240 |
| 4 Bed Rent | $2,450 | $2,550 |
% of Rental Stock
Property Listings — Caraleigh, Raleigh, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Caraleigh, Raleigh, NC is 64. This is a increase of 21.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $478,000 | -4.0% |
Listing Count | 329 | 26.0% |
| Listings as % of Homes | 0.7% | 26.0% |
Days on Market | 64 | 21.0% |
Demographics — Caraleigh, Raleigh, NC
As of the latest ACS Survey released in 2023, Caraleigh, Raleigh, NC has a population of 53,800, which has remained stable by 0.1% over the past 5 years. Caraleigh, Raleigh, NC is a moderately popular place for families, as children make up 20.1% of the population. The area has a highly educated workforce, with 48.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 53,800 | 0.1% |
% Under 18 | 20.1% | 1.0% |
% Seniors | 12.1% | 22.2% |
% WFH | 23.1% | 260.9% |
% w/ College Degree | 48.1% | 23.0% |
As of the latest ACS Survey released in 2023, Caraleigh, Raleigh, NC is a predominantly white area, with 62.0% of the population identifying as white. The white population has grown by 2.8% in the last 5 years. The second most common race or ethnicity in Caraleigh, Raleigh, NC is black, making up 17.0% of the population. Foreign-born residents account for 9.9% of the population in Caraleigh, Raleigh, NC, and this percentage has decreased by 3.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 62.0% | 2.8% |
% Black | 17.0% | -19.8% |
% Hispanic | 14.5% | 10.7% |
% Asian | 2.1% | -41.7% |
% Foreign Born | 9.9% | -3.9% |
Mortgage and Risk — Caraleigh, Raleigh, NC
According to HUD data as of 2023, there were 987 mortgage originations in Caraleigh, Raleigh, NC, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Caraleigh, Raleigh, NC. Investor activity is low, as 4.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 987 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Caraleigh, Raleigh, NC
As of 2024, the percent of homes in Caraleigh, Raleigh, NC under the Section 8 program is 4.8%. 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. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Caraleigh, Raleigh, NC, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 693 |
Total Units Section 8 | 405 |
% Rentals under Section 8 | 4.8% |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$80 | $1,520 | $1,440 |
| 2 Bedroom | -$210 | $1,800 | $1,590 |
| 3 Bedroom | -$70 | $2,050 | $1,980 |
| 4 Bedroom | $220 | $2,450 | $2,670 |
Affordability — Caraleigh, Raleigh, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $411,000 |
| Median Household Income | $87,900 |