Wakefield, Raleigh, NC—27614
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wakefield, Raleigh, NC
As of Oct '25, the median home price in Wakefield, Raleigh, NC is $682,000, with a year-over-year change of 0.3%. This indicates that home prices in Wakefield, Raleigh, NC are flat. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $682,000 | 0.3% |
| Single Family | $692,000 | 0.6% |
| Condos | $267,000 | -4.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $297,000 | -5.1% |
3 Bed | $404,000 | -2.4% |
4 Bed | $752,000 | 0.5% |
| 5 Bed | $969,000 | 1.3% |
% of Housing Stock
Rental Trends — Wakefield, Raleigh, NC
As of July '25, Rentcast reports the average rent in Wakefield, Raleigh, NC is $1,780, with a year-over-year rent change of -0.6%. Per bedroom, the median rent as of July '25 in Wakefield, Raleigh, NC is 1-bedrooms: $1,290, 2-bedrooms: $1,580, 3-bedrooms: $2,060, 4-bedrooms: $3,260. The most common rental property sizes in Wakefield, Raleigh, NC are 2-bedroom and 3-bedroom, accounting for 41.9% and 28.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,590 | $1,780 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,260 | $1,290 |
| 2 Bed Rent | $1,550 | $1,580 |
| 3 Bed Rent | $2,000 | $2,060 |
| 4 Bed Rent | $2,740 | $3,260 |
% of Rental Stock
Property Listings — Wakefield, Raleigh, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Wakefield, Raleigh, NC is 64. This is a increase of 24.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $700,000 | -16.0% |
Listing Count | 228 | 47.0% |
| Listings as % of Homes | 0.6% | 47.0% |
Days on Market | 64 | 24.0% |
Demographics — Wakefield, Raleigh, NC
As of the latest ACS Survey released in 2023, Wakefield, Raleigh, NC has a population of 33,000, which has remained stable by -0.8% over the past 5 years. Wakefield, Raleigh, NC is a moderately popular place for families, as children make up 23.1% of the population. The area has a highly educated workforce, with 62.0% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 32.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 33,000 | -0.8% |
% Under 18 | 23.1% | -6.5% |
% Seniors | 16.6% | 18.6% |
% WFH | 32.7% | 142.2% |
% w/ College Degree | 62.0% | 1.8% |
As of the latest ACS Survey released in 2023, Wakefield, Raleigh, NC is a predominantly white area, with 73.9% of the population identifying as white. The white population has shrunk by 3.9% in the last 5 years. The second most common race or ethnicity in Wakefield, Raleigh, NC is black, making up 12.7% of the population. Foreign-born residents account for 8.5% of the population in Wakefield, Raleigh, NC, and this percentage has decreased by 6.6% 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 | 73.9% | -3.9% |
% Black | 12.7% | 9.5% |
% Hispanic | 5.8% | 18.4% |
% Asian | 3.6% | -5.3% |
% Foreign Born | 8.5% | -6.6% |
Mortgage and Risk — Wakefield, Raleigh, NC
According to HUD data as of 2023, there were 673 mortgage originations in Wakefield, Raleigh, NC, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Wakefield, Raleigh, NC. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 673 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Wakefield, Raleigh, NC
As of 2024, the percent of homes in Wakefield, Raleigh, NC under the Section 8 program is 2.9%. 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 Wakefield, 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 | 108 |
Total Units Section 8 | 108 |
% Rentals under Section 8 | 2.9% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $460 | $1,260 | $1,720 |
| 2 Bedroom | $350 | $1,550 | $1,900 |
| 3 Bedroom | $360 | $2,000 | $2,360 |
| 4 Bedroom | $450 | $2,740 | $3,190 |
Affordability — Wakefield, Raleigh, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.1 |
| Median Home Price | $682,000 |
| Median Household Income | $122,000 |