Neuse, Raleigh, NC—27616
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Neuse, Raleigh, NC
As of Oct '25, the median home price in Neuse, Raleigh, NC is $358,000, with a year-over-year change of -4.9%. This indicates that home prices in Neuse, Raleigh, NC are decreasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $358,000 | -4.9% |
| Single Family | $359,000 | -5.3% |
| Condos | $239,000 | -7.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $246,000 | -6.1% |
3 Bed | $329,000 | -5.5% |
4 Bed | $421,000 | -4.3% |
| 5 Bed | $491,000 | -4.1% |
% of Housing Stock
Rental Trends — Neuse, Raleigh, NC
As of July '25, Rentcast reports the average rent in Neuse, Raleigh, NC is $1,690, with a year-over-year rent change of -0.6%. Per bedroom, the median rent as of July '25 in Neuse, Raleigh, NC is studios: $1,100, 1-bedrooms: $1,300, 2-bedrooms: $1,600, 3-bedrooms: $1,930, 4-bedrooms: $2,320. The most common rental property sizes in Neuse, Raleigh, NC are 2-bedroom and 3-bedroom, accounting for 40.1% and 32.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,620 | $1,690 |
| Studio Rent | $1,080 | $1,100 |
| 1 Bed Rent | $1,280 | $1,300 |
| 2 Bed Rent | $1,600 | $1,600 |
| 3 Bed Rent | $1,930 | $1,930 |
| 4 Bed Rent | $2,300 | $2,320 |
% of Rental Stock
Property Listings — Neuse, Raleigh, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Neuse, Raleigh, NC is 44. This is a decrease of -14.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $368,000 | -7.0% |
Listing Count | 269 | 18.0% |
| Listings as % of Homes | 0.8% | 18.0% |
Days on Market | 44 | -14.0% |
Demographics — Neuse, Raleigh, NC
As of the latest ACS Survey released in 2023, Neuse, Raleigh, NC has a population of 61,200, which has increased by 14.6% over the past 5 years. Neuse, Raleigh, NC is a moderately popular place for families, as children make up 23.9% of the population. The area has a moderately educated workforce, with 43.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 61,200 | 14.6% |
% Under 18 | 23.9% | -13.1% |
% Seniors | 8.6% | 32.3% |
% WFH | 20.4% | 117.0% |
% w/ College Degree | 43.4% | 6.9% |
As of the latest ACS Survey released in 2023, Neuse, Raleigh, NC is a predominantly black area, with 38.5% of the population identifying as black. The black population has grown by 1.0% in the last 5 years. The second most common race or ethnicity in Neuse, Raleigh, NC is white, making up 31.4% of the population. Foreign-born residents account for 19.8% of the population in Neuse, Raleigh, NC, and this percentage has decreased by 2.5% 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 | 31.4% | -4.8% |
% Black | 38.5% | 1.0% |
% Hispanic | 19.8% | 3.1% |
% Asian | 6.8% | 1.5% |
% Foreign Born | 19.8% | -2.5% |
Mortgage and Risk — Neuse, Raleigh, NC
According to HUD data as of 2023, there were 1056 mortgage originations in Neuse, Raleigh, NC, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Neuse, Raleigh, NC. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,056 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Neuse, Raleigh, NC
As of 2024, the percent of homes in Neuse, Raleigh, NC under the Section 8 program is 7.1%. 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 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 | 821 |
Total Units Section 8 | 784 |
% Rentals under Section 8 | 7.1% |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $310 | $1,280 | $1,590 |
| 2 Bedroom | $160 | $1,600 | $1,760 |
| 3 Bedroom | $260 | $1,930 | $2,190 |
| 4 Bedroom | $660 | $2,300 | $2,960 |
Affordability — Neuse, Raleigh, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $358,000 |
| Median Household Income | $81,500 |