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City · 481,031 residents · Wake County, North Carolina

Raleigh , North Carolina

In Raleigh, a typical home is worth $415,800 and typical rent is $1,572 a month. Compared with all of Wake County, typical household income is 19% lower, the typical home value is 10% lower, and the share of households that own their home is 13 points lower.

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  • Typical home value

    $415,800

    10% below the county

    44% above North Carolina

    • Raleigh
    • Wake
    • North Carolina

  • Typical rent

    $1,572a month

    3% below the county

    28% above North Carolina

    • Raleigh
    • Wake
    • North Carolina

  • Typical household income

    $85,395a year

    19% below the county

    18% above North Carolina

    • Raleigh
    • Wake
    • North Carolina

  • Households that own their home

    51%

    13 points below the county

    16 points below North Carolina

    • Raleigh
    • Wake
    • North Carolina

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$424,663
1.7% less than 12 months ago
Typical rent
$1,572 a month
1.3% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Raleigh is in Wake County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Wake County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Raleigh apart

What this place has that others do not, from public data, most unusual first.

  1. 51% of households in Raleigh own their home, against 64% in Wake County.

  2. The typical household income in Raleigh is $85,395, 19% less than in Wake County as a whole ($105,768).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Raleigh

What homes there are in Raleigh, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

No kind of home is the majority in Raleigh; the largest group, detached houses, adds up to 44%, less than in Wake County (58%).

Year built

By age, homes in Raleigh look like those in Wake County: the typical year built is 1997.

Homes in Raleigh are smaller: 54% have 3 bedrooms or more; in Wake County, 67%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

About 68% of owner-occupied homes in Raleigh are worth less than the FHA loan limit for Wake County ($541,287).

Monthly rent with utilities

Measured against HUD's 2-bedroom fair market rent ($1,689), about 59% of rented homes in Raleigh cost less.

With a mortgage

$1,910 a month

Wake County: $2,113 a month

Without a mortgage

$693 a month

Wake County: $672 a month

Owners with a mortgage

74%

Wake County: 74%

The typical cost for an owner with a mortgage in Raleigh is $1,910 a month, less than in Wake County ($2,113); without one, $693.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Raleigh rose 68% since 2015–2019, more than in Wake County (64%).

The typical rent in Raleigh rose 40% since 2015–2019, about the same as in Wake County (41%).

Housing prices ran ahead of income in Raleigh: typical income rose 27%, against +68% for home values and +40% for rent.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureRaleighWake CountyNorth CarolinaUnited States
Rental vacancy 8.6%8.9%7.1%5.5%
Homeowner vacancy 0.9%0.6%1.3%0.9%
More than one person per room 2.1%1.9%2.2%3.4%
People per household 2.272.512.442.53
Drive alone 62%61%72%69%
Carpool 7%6%9%9%
Public transit 1%1%1%3%
Walk or bike 2%1%2%3%
Work from home 26%29%16%15%
Other means 2%2%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

Much as in Wake County, the rental vacancy rate in Raleigh is 8.6%.

Much as in Wake County, 2.1% of households in Raleigh have more than one person per room.

Fewer people live in each home here: 2.27 on average, against 2.51 in Wake County.

The car rules in Raleigh: 62% of workers drive to work alone, and the typical trip takes 20 to 29 minutes.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Raleigh?

A typical home costs more than the typical income allows

We start with a typical home in Raleigh, worth $415,800, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 47% of the typical household income in Raleigh, which is $85,395 a year. For that payment to be 28% of income, a household would need to earn about $144,680 a year.

The calculator's FHA and conventional loan limits are those of all of Wake County.

Your numbers

Local data
$

Starts at the typical home value in Raleigh. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $14,553 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,376

at 7.18% · 30 years

Loan amount
$408,269
Total interest
$587,403
Paid off in
November 2056

Includes $7,022 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,993 a month

  • Tight

    $1,993 to $2,562 a month

  • Hard

    more than $2,562 a month

    Your payment · 47%

Compared with the typical household income in Raleigh ($85,395 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,376
Principal & interest$2,766
Property tax$253
Home insurance$173
FHA mortgage insurance (MIP)$184

You need at least $14,553 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Raleigh and Wake County

Raleigh is in Wake County, North Carolina. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Raleigh's own numbers

Typical home value
$415,800
Typical monthly rent
$1,572
Typical yearly household income
$85,395
Households that own their home
51%
Effective property tax rate
0.73%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Wake County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,689
Price change over 5 years (FHFA)
+57%
Homes in a high flood-risk zone
0.5%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Wake County.

Everything about Wake County

Buying

Buying a home in Raleigh

A typical home in Raleigh is worth $415,800: 10% below the county and 44% above North Carolina. With the typical household income in Raleigh ($85,395 a year), a typical home costs 4.9 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Raleigh 4.9 years
  • Wake 4.4 years
  • North Carolina 4.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Wake County

According to FHFA’s house price index, home prices in Wake County rose 107% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Wake County.

Period County North Carolina U.S.
Last year (2025) +1.0% +2.5% +2.9%
5 years (2020–2025) +57% +60% +47%
10 years (2015–2025) +107% +107% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Raleigh next to Wake County, North Carolina and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Raleigh $415,800
  • Wake $461,300
  • North Carolina $288,900
  • United States $332,700
Typical monthly rent
  • Raleigh $1,572
  • Wake $1,623
  • North Carolina $1,228
  • United States $1,413
Typical yearly household income
  • Raleigh $85,395
  • Wake $105,768
  • North Carolina $72,388
  • United States $80,734
See the full table
Raleigh next to Wake County and North Carolina
Measure Raleigh Wake County North Carolina U.S.
Typical home value $415,800 $461,300 $288,900 $332,700
Typical monthly rent $1,572 $1,623 $1,228 $1,413
Typical yearly household income $85,395 $105,768 $72,388 $80,734
Households that own their home 51% 64% 67% 65%
Typical yearly property tax $3,048 $3,260 $1,896 $3,119
Effective property tax rate 0.73% 0.71% 0.66% 0.94%
Renters with high rent for their income 52% 48% 49% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Wake County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Raleigh

For a typical $415,800 home in Raleigh, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Raleigh's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,376a month

    Least cash to close
    Down payment
    $14,553
    Cash to close
    $27,027
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $184

  • Conventional, 5% down $3,300a month

    Down payment
    $20,790
    Cash to close
    $33,264
    Rate
    7.18%
    Mortgage insurance
    PMI · $198

  • Conventional, 20% down, no PMI $2,680a month

    Down payment
    $83,160
    Cash to close
    $95,634
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $3,064a month

    Down payment
    $62,370
    Cash to close
    $74,844
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Raleigh and for Wake County.

Property tax

Effective rate in Raleigh

0.73%of the home’s value each year

$3,048 a year for the typical owner in Raleigh.

  • Raleigh 0.73%
  • Wake 0.71%
  • North Carolina 0.66%

What North Carolina publishes Elderly or Disabled Homestead Exclusion (North Carolina General Assembly (statute))

Exemptions and deadlines in North Carolina

Flood risk in Wake County

FEMA does not publish these numbers by city: they are for all of Wake County.

Homes in the high-risk zone
0.5%
1,680
Of those, with NFIP insurance
46%
County North Carolina U.S.
Homes in the high-risk zone 0.5% 2.8% 3.5%
Of those, with NFIP insurance 46% 53% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Raleigh

Typical rent in Raleigh is $1,572 a month: 3% below the county. In Raleigh, 52% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Wake County, by unit size. To pay the 2-bedroom one ($1,689 a month) without spending more than 30% of your income, you would need to earn $32.48 an hour working full time.

HUD fair market rent for all of Wake County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,489 $28.63 $59,560
1 bedroom $1,552 $29.85 $62,080
2 bedrooms $1,689 $32.48 $67,560
3 bedrooms $2,103 $40.44 $84,120
4 bedrooms $2,823 $54.29 $112,920

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Raleigh

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Raleigh has 13 ZIP codes with their own.

For 2 bedrooms it runs from $1,420 in 27610 to $1,950 in 27612.

11 of the 13 are above the fair market rent for Wake County ($1,689).

7 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Raleigh when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Raleigh

HUD lists 129 buildings with rents for lower incomes in Raleigh. These are the largest.

  • Capital Towers 4808 4812 Six Forks Road, Raleigh 27609 298 homes, 297 low-income · Studio: 120 · 1 bd: 178 · In service since 1993 · For older adults
  • Glenwood Towers 509 Glenwood Ave, Raleigh 27603 301 homes, 286 low-income · Run by Housing Authority of the City of Raleigh · Average payment: $345 a month (919) 831-8300
  • Raleigh North + Millbank Court Apartments 1540 N Raleigh Blvd, Raleigh 27610 230 homes, 229 low-income · 2 bd: 117 · 3 bd: 113 · For families
  • The Sussex 113 115 290 300 N Rogers Lane, Raleigh 27610 216 low-income homes · In service since 2022 · For families
  • Raleigh Millbank Apartments 1500 N Raleigh Blvd, Raleigh 27610 230 homes, 208 low-income · For families (919) 703-0820

See all 195 buildings in Wake County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Raleigh

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 9 HUD-approved agencies with an office in Wake County; 7 say they serve in Spanish.

An older woman smiles in front of her apartment building.

HUD counseling is free or low-cost

Assistance programs in Raleigh

No down payment, repair or rent-help program on our list is for Raleigh or Wake County. The ones below are statewide in North Carolina: they work in Raleigh the same as in the rest of the state.

Which programs do I qualify for? All programs in North Carolina

  • NC Home Advantage Mortgage

    Statewide in North Carolina

    NCHFA fixed-rate mortgage with down payment assistance, for first-time buyers and for people who have owned a home before, in North Carolina. Offered by North Carolina Housing Finance Agency (NCHFA).

    Forgivable

    See the program Official page

  • NC 1st Home Advantage Down Payment

    Statewide in North Carolina

    A fixed amount of NCHFA down payment assistance for first-time buyers and veterans in North Carolina. Offered by North Carolina Housing Finance Agency (NCHFA).

    Type not stated

    See the program Official page

  • Community Partners Loan Pool (CPLP)

    Statewide in North Carolina

    NCHFA interest-free loan with deferred payments of up to 25% of the price (maximum $50,000) for the down payment of low- and moderate-income buyers in North Carolina; you apply through a member organization. Offered by North Carolina Housing Finance Agency (NCHFA).

    Deferred

    See the program Official page

Housing counselors near Raleigh

The HUD-approved agencies closest to the center of Raleigh, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Carolina Community Impact Inc.

    3725 National Dr, Raleigh · 2 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (866) 635-6414

  • Consumer Education Services, Inc

    3725 National Dr Ste 160, Raleigh · 2 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    (877) 322-8824

  • Dhic, Inc.

    113 S Wilmington St, Raleigh · 4 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 2 more
    (919) 832-4345

Every agency in Wake County All counseling agencies in North Carolina

Help in Spanish near Raleigh

3 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Raleigh

HUD’s record names them for Raleigh or Wake County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of the City of Raleigh Public housing and Section 8 vouchers (919) 831-8300
  • Housing Authority of the County of Wake Public housing and Section 8 vouchers (919) 269-6404

One other authority has an office in Wake County: see the list Source: HUD

Cities

Other cities in Wake County

These cities are also in Wake County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Wake County Housing in North Carolina

Nearby cities

The cities closest to Raleigh, with the typical home value.

Neighboring counties

If Wake County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Raleigh.

All guides
A mother smiles as she carries her young daughter on her shoulders (black and white).

Questions

Housing questions about Raleigh

Short answers with the numbers for Raleigh and all of Wake County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Raleigh?

The typical home value in Raleigh is $415,800, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Wake County it is $461,300.

How much does it cost to rent in Raleigh?

Typical rent in Raleigh is $1,572 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Wake County is $1,689.

What is the FHA loan limit in Raleigh?

Raleigh uses the FHA limit for all of Wake County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Raleigh?

The typical homeowner in Raleigh pays $3,048 a year, according to the U.S. Census Bureau. That is 0.73% of the home’s value; in Wake County, the rate is 0.71%.

Where can I find free help to buy or rent in Raleigh?

There are 9 HUD-approved counseling agencies with an office in Wake County. 7 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).