Southwest Raleigh, Raleigh, NC—27606
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Southwest Raleigh, Raleigh, NC
As of Oct '25, the median home price in Southwest Raleigh, Raleigh, NC is $432,000, with a year-over-year change of -2.5%. This indicates that home prices in Southwest Raleigh, Raleigh, NC are decreasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $432,000 | -2.5% |
| Single Family | $479,000 | -2.2% |
| Condos | $216,000 | -3.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $261,000 | -4.7% |
3 Bed | $423,000 | -2.8% |
4 Bed | $670,000 | 0.3% |
| 5 Bed | $857,000 | 1.2% |
% of Housing Stock
Rental Trends — Southwest Raleigh, Raleigh, NC
As of July '25, Rentcast reports the average rent in Southwest Raleigh, Raleigh, NC is $1,570, with a year-over-year rent change of -6.5%. Per bedroom, the median rent as of July '25 in Southwest Raleigh, Raleigh, NC is studios: $972, 1-bedrooms: $1,300, 2-bedrooms: $1,580, 3-bedrooms: $2,030, 4-bedrooms: $2,450. The most common rental property sizes in Southwest Raleigh, Raleigh, NC are 2-bedroom and 1-bedroom, accounting for 51.5% and 24.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,570 |
| Studio Rent | $950 | $972 |
| 1 Bed Rent | $1,340 | $1,300 |
| 2 Bed Rent | $1,510 | $1,580 |
| 3 Bed Rent | $1,900 | $2,030 |
| 4 Bed Rent | $2,500 | $2,450 |
% of Rental Stock
Property Listings — Southwest Raleigh, Raleigh, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Southwest Raleigh, Raleigh, NC is 58. This is a increase of 11.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $522,000 | -2.0% |
Listing Count | 157 | 53.0% |
| Listings as % of Homes | 0.5% | 53.0% |
Days on Market | 58 | 11.0% |
Demographics — Southwest Raleigh, Raleigh, NC
As of the latest ACS Survey released in 2023, Southwest Raleigh, Raleigh, NC has a population of 45,700, which has decreased by -1.8% over the past 5 years. Southwest Raleigh, Raleigh, NC is a moderately popular place for families, as children make up 15.6% of the population. The area has a highly educated workforce, with 58.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,700 | -1.8% |
% Under 18 | 15.6% | 7.6% |
% Seniors | 9.7% | 42.6% |
% WFH | 23.3% | 269.8% |
% w/ College Degree | 58.5% | 4.7% |
As of the latest ACS Survey released in 2023, Southwest Raleigh, Raleigh, NC is a predominantly white area, with 61.2% of the population identifying as white. The white population has grown by 1.7% in the last 5 years. The second most common race or ethnicity in Southwest Raleigh, Raleigh, NC is black, making up 15.8% of the population. Foreign-born residents account for 20.1% of the population in Southwest Raleigh, Raleigh, NC, and this percentage has increased by 2.0% 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 | 61.2% | 1.7% |
% Black | 15.8% | -9.2% |
% Hispanic | 8.5% | 4.9% |
% Asian | 10.3% | -8.0% |
% Foreign Born | 20.1% | 2.0% |
Mortgage and Risk — Southwest Raleigh, Raleigh, NC
According to HUD data as of 2023, there were 576 mortgage originations in Southwest Raleigh, Raleigh, NC, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Southwest Raleigh, Raleigh, NC. Investor activity is low, as 6.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 576 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 6.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Southwest Raleigh, Raleigh, NC
As of 2024, the percent of homes in Southwest Raleigh, Raleigh, NC under the Section 8 program is 1.0%. 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. In Southwest Raleigh, Raleigh, NC, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 209 |
Total Units Section 8 | 121 |
% Rentals under Section 8 | 1.0% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $200 | $1,340 | $1,540 |
| 2 Bedroom | $200 | $1,510 | $1,710 |
| 3 Bedroom | $230 | $1,900 | $2,130 |
| 4 Bedroom | $370 | $2,500 | $2,870 |
Affordability — Southwest Raleigh, Raleigh, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $432,000 |
| Median Household Income | $75,600 |