North Hills, Raleigh, NC—27609
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — North Hills, Raleigh, NC
As of Oct '25, the median home price in North Hills, Raleigh, NC is $547,000, with a year-over-year change of -1.2%. This indicates that home prices in North Hills, Raleigh, NC are decreasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $547,000 | -1.2% |
| Single Family | $576,000 | -0.7% |
| Condos | $231,000 | -5.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $268,000 | -5.3% |
3 Bed | $465,000 | -2.3% |
4 Bed | $756,000 | -0.8% |
| 5 Bed | $1,530,000 | 1.0% |
% of Housing Stock
Rental Trends — North Hills, Raleigh, NC
As of July '25, Rentcast reports the average rent in North Hills, Raleigh, NC is $1,690, with a year-over-year rent change of -8.2%. Per bedroom, the median rent as of July '25 in North Hills, Raleigh, NC is studios: $1,490, 1-bedrooms: $1,460, 2-bedrooms: $1,800, 3-bedrooms: $2,340, 4-bedrooms: $2,950. The most common rental property sizes in North Hills, Raleigh, NC are 1-bedroom and 2-bedroom, accounting for 43.1% and 35.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,520 | $1,690 |
| Studio Rent | $1,440 | $1,490 |
| 1 Bed Rent | $1,340 | $1,460 |
| 2 Bed Rent | $1,610 | $1,800 |
| 3 Bed Rent | $1,940 | $2,340 |
| 4 Bed Rent | $3,000 | $2,950 |
% of Rental Stock
Property Listings — North Hills, Raleigh, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in North Hills, Raleigh, NC is 64. This is a increase of 27.0% 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 | $770,000 | 14.0% |
Listing Count | 201 | 31.0% |
| Listings as % of Homes | 0.5% | 31.0% |
Days on Market | 64 | 27.0% |
Demographics — North Hills, Raleigh, NC
As of the latest ACS Survey released in 2023, North Hills, Raleigh, NC has a population of 35,500, which has increased by 8.1% over the past 5 years. North Hills, Raleigh, NC is a moderately popular place for families, as children make up 19.2% of the population. The area has a highly educated workforce, with 61.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,500 | 8.1% |
% Under 18 | 19.2% | -6.8% |
% Seniors | 16.6% | -2.9% |
% WFH | 21.5% | 110.8% |
% w/ College Degree | 61.2% | 14.0% |
As of the latest ACS Survey released in 2023, North Hills, Raleigh, NC is a predominantly white area, with 67.4% of the population identifying as white. The white population has shrunk by 1.5% in the last 5 years. The second most common race or ethnicity in North Hills, Raleigh, NC is black, making up 14.5% of the population. Foreign-born residents account for 12.4% of the population in North Hills, Raleigh, NC, and this percentage has increased by 33.3% 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 | 67.4% | -1.5% |
% Black | 14.5% | -20.3% |
% Hispanic | 13.5% | 33.7% |
% Asian | 1.7% | 21.4% |
% Foreign Born | 12.4% | 33.3% |
Mortgage and Risk — North Hills, Raleigh, NC
According to HUD data as of 2023, there were 726 mortgage originations in North Hills, Raleigh, NC, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in North Hills, Raleigh, NC. Investor activity is low, as 2.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 726 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — North Hills, Raleigh, NC
As of 2024, the percent of homes in North Hills, Raleigh, NC under the Section 8 program is 1.8%. 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. In North Hills, 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 | 182 |
Total Units Section 8 | 131 |
% Rentals under Section 8 | 1.8% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $280 | $1,340 | $1,620 |
| 2 Bedroom | $180 | $1,610 | $1,790 |
| 3 Bedroom | $290 | $1,940 | $2,230 |
| 4 Bedroom | $10 | $3,000 | $3,010 |
Affordability — North Hills, Raleigh, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.2 |
| Median Home Price | $547,000 |
| Median Household Income | $81,500 |