North Raleigh, Raleigh, NC—27613
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — North Raleigh, Raleigh, NC
As of Oct '25, the median home price in North Raleigh, Raleigh, NC is $586,000, with a year-over-year change of -0.2%. This indicates that home prices in North Raleigh, Raleigh, NC are flat. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $586,000 | -0.2% |
| Single Family | $593,000 | 0.0% |
| Condos | $282,000 | -4.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $297,000 | -4.8% |
3 Bed | $451,000 | -1.5% |
4 Bed | $719,000 | 0.1% |
| 5 Bed | $896,000 | -0.3% |
% of Housing Stock
Rental Trends — North Raleigh, Raleigh, NC
As of July '25, Rentcast reports the average rent in North Raleigh, Raleigh, NC is $1,520, with a year-over-year rent change of -7.9%. Per bedroom, the median rent as of July '25 in North Raleigh, Raleigh, NC is studios: $965, 1-bedrooms: $1,210, 2-bedrooms: $1,500, 3-bedrooms: $2,070, 4-bedrooms: $2,960. The most common rental property sizes in North Raleigh, Raleigh, NC are 2-bedroom and 1-bedroom, accounting for 42.2% and 31.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,360 | $1,520 |
| Studio Rent | $965 | $965 |
| 1 Bed Rent | $1,220 | $1,210 |
| 2 Bed Rent | $1,490 | $1,500 |
| 3 Bed Rent | $2,030 | $2,070 |
| 4 Bed Rent | $2,800 | $2,960 |
% of Rental Stock
Property Listings — North Raleigh, Raleigh, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in North Raleigh, Raleigh, NC is 58. This is a increase of 4.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $562,000 | -16.0% |
Listing Count | 155 | 15.0% |
| Listings as % of Homes | 0.5% | 15.0% |
Days on Market | 58 | 4.0% |
Demographics — North Raleigh, Raleigh, NC
As of the latest ACS Survey released in 2023, North Raleigh, Raleigh, NC has a population of 44,400, which has increased by 3.3% over the past 5 years. North Raleigh, Raleigh, NC is a moderately popular place for families, as children make up 22.3% of the population. The area has a highly educated workforce, with 67.7% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 44,400 | 3.3% |
% Under 18 | 22.3% | -5.1% |
% Seniors | 15.1% | 37.3% |
% WFH | 28.0% | 171.8% |
% w/ College Degree | 67.7% | 1.8% |
As of the latest ACS Survey released in 2023, North Raleigh, Raleigh, NC is a predominantly white area, with 77.1% of the population identifying as white. The white population has shrunk by 0.6% in the last 5 years. The second most common race or ethnicity in North Raleigh, Raleigh, NC is black, making up 9.4% of the population. Foreign-born residents account for 9.8% of the population in North Raleigh, Raleigh, NC, and this percentage has increased by 18.1% 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 | 77.1% | -0.6% |
% Black | 9.4% | -8.7% |
% Hispanic | 6.4% | 28.0% |
% Asian | 3.4% | 3.0% |
% Foreign Born | 9.8% | 18.1% |
Mortgage and Risk — North Raleigh, Raleigh, NC
According to HUD data as of 2023, there were 558 mortgage originations in North Raleigh, Raleigh, NC, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in North Raleigh, Raleigh, NC. Investor activity is low, as 1.0% 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 | 558 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — North Raleigh, Raleigh, NC
As of 2024, the percent of homes in North Raleigh, Raleigh, NC under the Section 8 program is 1.1%. 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 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 | 94 |
Total Units Section 8 | 52 |
% Rentals under Section 8 | 1.1% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $450 | $1,220 | $1,670 |
| 2 Bedroom | $360 | $1,490 | $1,850 |
| 3 Bedroom | $280 | $2,030 | $2,310 |
| 4 Bedroom | $300 | $2,800 | $3,100 |
Affordability — North Raleigh, Raleigh, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $586,000 |
| Median Household Income | $119,000 |