Falls of Neuse, Raleigh, NC—27615
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Falls of Neuse, Raleigh, NC
As of Oct '25, the median home price in Falls of Neuse, Raleigh, NC is $538,000, with a year-over-year change of -0.7%. This indicates that home prices in Falls of Neuse, 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 | $538,000 | -0.7% |
| Single Family | $555,000 | -0.4% |
| Condos | $247,000 | -7.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $258,000 | -5.8% |
3 Bed | $434,000 | -2.3% |
4 Bed | $693,000 | 0.7% |
| 5 Bed | $1,010,000 | 1.6% |
% of Housing Stock
Rental Trends — Falls of Neuse, Raleigh, NC
As of July '25, Rentcast reports the average rent in Falls of Neuse, Raleigh, NC is $1,540, with a year-over-year rent change of -5.5%. Per bedroom, the median rent as of July '25 in Falls of Neuse, Raleigh, NC is 1-bedrooms: $1,260, 2-bedrooms: $1,530, 3-bedrooms: $2,000, 4-bedrooms: $2,890. The most common rental property sizes in Falls of Neuse, Raleigh, NC are 2-bedroom and 1-bedroom, accounting for 53.2% and 24.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,440 | $1,540 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,250 | $1,260 |
| 2 Bed Rent | $1,520 | $1,530 |
| 3 Bed Rent | $1,950 | $2,000 |
| 4 Bed Rent | $2,600 | $2,890 |
% of Rental Stock
Property Listings — Falls of Neuse, Raleigh, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Falls of Neuse, Raleigh, NC is 57. This is a increase of 30.0% 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 37.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $580,000 | -9.0% |
Listing Count | 174 | 13.0% |
| Listings as % of Homes | 0.5% | 13.0% |
Days on Market | 57 | 30.0% |
Demographics — Falls of Neuse, Raleigh, NC
As of the latest ACS Survey released in 2023, Falls of Neuse, Raleigh, NC has a population of 45,700, which has increased by 5.2% over the past 5 years. Falls of Neuse, 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 63.7% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,700 | 5.2% |
% Under 18 | 20.1% | -1.0% |
% Seniors | 20.6% | 10.8% |
% WFH | 28.3% | 253.7% |
% w/ College Degree | 63.7% | 7.1% |
As of the latest ACS Survey released in 2023, Falls of Neuse, Raleigh, NC is a predominantly white area, with 73.3% of the population identifying as white. The white population has shrunk by 5.1% in the last 5 years. The second most common race or ethnicity in Falls of Neuse, Raleigh, NC is black, making up 13.2% of the population. Foreign-born residents account for 10.3% of the population in Falls of Neuse, Raleigh, NC, and this percentage has increased by 32.1% 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 | 73.3% | -5.1% |
% Black | 13.2% | 0.0% |
% Hispanic | 7.0% | 34.6% |
% Asian | 3.0% | 25.0% |
% Foreign Born | 10.3% | 32.1% |
Mortgage and Risk — Falls of Neuse, Raleigh, NC
According to HUD data as of 2023, there were 661 mortgage originations in Falls of Neuse, Raleigh, NC, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Falls of Neuse, 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 | 661 |
% 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 — Falls of Neuse, Raleigh, NC
As of 2024, the percent of homes in Falls of Neuse, Raleigh, NC under the Section 8 program is 1.2%. 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 Falls of Neuse, 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 | 87 |
% Rentals under Section 8 | 1.2% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $480 | $1,250 | $1,730 |
| 2 Bedroom | $400 | $1,520 | $1,920 |
| 3 Bedroom | $440 | $1,950 | $2,390 |
| 4 Bedroom | $620 | $2,600 | $3,220 |
Affordability — Falls of Neuse, Raleigh, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $538,000 |
| Median Household Income | $107,000 |