Average Home Price in Raleigh NC (2026): Trends, Rent & Data

$519,983. That’s what a typical home costs in Raleigh right now — and it’s actually less than it was a year ago.

The Raleigh housing market slipped 0.9% over the past 12 months. It’s a small dip, but it breaks from the aggressive appreciation the Triangle saw earlier this decade. Across 15 ZIP codes, prices range from $316,459 to over $1 million, so your experience depends heavily on where you’re looking.

Quick answer: The average home price in Raleigh, NC is $519,983 as of February 2026, down 0.9% year over year according to Zillow.

Current Home Prices in Raleigh

Here’s a snapshot of the Raleigh housing market as of February 2026:

That -0.9% annual decline works out to roughly $4,959 in lost value on the median home. Not a crash by any measure, but a signal that Raleigh’s post-pandemic price surge has fully stalled.

The gap between the cheapest and most expensive ZIP codes is $687,696. That spread tells you Raleigh is not one market — it’s several markets wearing the same city name. A buyer in 27610 faces a completely different reality than one shopping in 27608.

Month to month, the picture has been flat. February’s $519,983 median is almost identical to January’s $519,578, a gain of just $405. Prices have hovered in this narrow band since late 2025, neither rising meaningfully nor falling further.

Raleigh Home Prices by Neighborhood

The table below ranks every tracked Raleigh ZIP code by typical home value, from most to least expensive:

27608 is in a league of its own. At over $1 million, it’s nearly double the next most expensive ZIP code and more than three times the cheapest. This area covers the historic Hayes Barton and Five Points neighborhoods near downtown.

The most affordable entry point is 27610, in southeast Raleigh, at $316,459. That’s 39% below the city median.

One oddity worth noting: 27610 has the second-highest rent in the city at $1,902/month despite having the lowest home values. That disconnect points to strong rental demand in the area, possibly from renters priced out of buying.

Rent vs Buy in Raleigh

Across all 15 ZIP codes, the average monthly rent in Raleigh is approximately $1,574. Compare that to the cost of owning.

On a $519,983 home with 20% down, you’d finance roughly $416,000. At current mortgage rates in the high-6% to low-7% range, your principal and interest alone would run about $2,700–$2,800 per month — before property taxes, insurance, and maintenance.

That puts the monthly cost of owning at roughly 70–80% more than renting the same home.

Renting wins on monthly cash flow. But renting doesn’t build equity, and your landlord can raise your rent. If you plan to stay in Raleigh for five or more years, buying locks in your housing cost.

The rent-to-price ratio varies by ZIP. In 27608, rent is just $1,988 on a $1M home — that’s a price-to-rent ratio over 500, heavily favoring renting. In 27610, rent is $1,902 on a $316K home, making buying comparatively more attractive.

Population Growth and Migration

Raleigh’s population hit 499,825 in 2024. The city added 33,964 residents since 2020 — a 7.3% increase in four years.

The growth accelerated sharply between 2022 and 2023, when Raleigh added nearly 16,000 people in a single year. That’s more than triple the 3,823 gain from 2021 to 2022.

How does Raleigh compare to other North Carolina cities?

Raleigh’s growth rate lands in the middle of the pack among major NC cities. Wilmington and Charlotte grew slightly faster, but Raleigh added more people in absolute terms than all but Charlotte.

More residents means more housing demand. Yet prices fell 0.9% despite this growth. That suggests new construction is keeping pace — or that affordability has hit a ceiling and priced some buyers out.

Raleigh Housing Market Trends

Here’s how the median home value moved month by month over the past year:

The story splits into two halves. From March through August 2025, prices dropped every single month — shedding about $5,400 total. Then from September onward, the market flatlined. Monthly swings shrank to a few hundred dollars in either direction.

The steepest drop came in July 2025 at -$1,454. By October, the bleeding had effectively stopped.

February’s $405 gain is the largest positive move since the decline began. It’s too early to call it a recovery, but the floor appears to be in around $519K–$520K.

Is Raleigh a Good Place to Buy in 2026?

The data points to a balanced market that slightly favors buyers.

Prices are down 0.9% year over year. They’ve been essentially flat for six months. Neither buyers nor sellers have a strong upper hand, but the momentum has shifted — sellers can no longer count on automatic appreciation to bail out an overpriced listing.

For buyers, the stabilization is useful. You’re not catching a falling knife. The market has found a floor. You also have the advantage of population growth supporting long-term demand — 33,964 new residents in four years means Raleigh isn’t losing its appeal.

The challenge remains affordability. At $520K, the median home requires significant income. If you can find a home in the $316K–$355K range in ZIPs like 27610, 27604, or 27616, the math gets much easier.

For sellers, the days of 10% annual gains are over. Price your home at market value and expect it to take longer to sell than it did in 2021–2022.

Raleigh Housing Market Outlook for 2026-2027

The three-month trend from December 2025 to February 2026 shows a modest upward drift: $519,423 to $519,983, a gain of $560. If that pace continues through 2026, prices would end the year close to where they started — somewhere in the $520K–$525K range.

There’s no momentum for a sharp rebound. The monthly gains are too small, measured in hundreds of dollars rather than thousands. But there’s also no momentum for a significant decline. The six months of near-zero movement suggest the market has priced in current conditions.

The wild card is mortgage rates. If rates drop, expect the floor to become a launch pad as sidelined buyers re-enter the market. If rates stay elevated, this flat trajectory will likely persist.

Frequently Asked Questions

What is the average home price in Raleigh?

The average home price in Raleigh, NC is $519,983 as of February 2026. Across the city’s 15 tracked ZIP codes, values range from $316,459 in southeast Raleigh (27610) to $1,004,155 near downtown (27608).

Are home prices going up or down in Raleigh?

Prices are down 0.9% year over year. The decline happened mostly between March and August 2025. Since then, values have stabilized around $519K–$520K with minimal monthly movement.

Is it cheaper to rent or buy in Raleigh?

Renting is cheaper on a monthly basis. The average rent across Raleigh is approximately $1,574/month, while a mortgage payment on the median home (20% down, ~7% rate) would be roughly $2,700–$2,800 in principal and interest alone. Taxes and insurance push the total closer to $3,200–$3,400.

What is the most affordable neighborhood in Raleigh?

ZIP code 27610 in southeast Raleigh is the most affordable at $316,459. That’s 39% below the citywide median of $519,983. The next most affordable are 27604 ($340,334) and 27616 ($355,944).

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020–2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.