Real Estate Investing in Raleigh, North Carolina (27604)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 27604 (Raleigh, NC)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.1% vacancy may signal weakening demand.
What’s happening in Raleigh, NC (27604)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 27604 Raleigh
ZIP 27604 in Raleigh, NC carries a healthy set of headwinds. Home values near $344K and rents of $1,616/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 27604 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Put differently, 27604 offers a low basis, the region around Raleigh has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Resident income in 27604 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
tilts toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Raleigh:
Property Strategy for 27604
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $211,066 | $1,570 | 5.4% | +6.7% | $211,066 |
| 2BR | $251,481 | $1,720 | 4.9% | +7.0% | $125,740 |
| 3BR | $336,424 | $2,160 | 4.6% | +7.1% | $112,141 |
| 4BR | $409,962 | $2,890 | 5.1% | +7.1% | $102,491 |
| 5BR | $449,722 | — | — | +6.0% | $89,944 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 27604 Compare?
| Metric | 27604 | Raleigh | Raleigh-Cary, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $343,918 | $469,319 | N/A | $330,565 |
| 5-Year CAGR | 3.9% | 4.5% | N/A | 7.8% |
| Avg Rent | $1,616 | $1,618 | N/A | - |
| Cap Rate | 3.7% | 2.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 27604 (Raleigh, NC). Anonymous, moderated, never written by AI.
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Property managers serving Wake County
Manage rentals here? List your business →Fox Rental Management is a licensed Real Estate Broker and Property Management Company serving Clayton & Raleigh, NC, specializing in residential management. summary from their website
RPM Property Pros is a full-service property management company in North Carolina specializing in commercial property and association management. summary from their website
Bottom Line Property Management offers property management services in Charlotte and Raleigh, focusing on maximizing owner investments. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $343,918 |
| Monthly Rent | $1,616 |
| Price-to-Rent | 17.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.7% |
| 5-Year IRR | 7.5% |
📈 Home Appreciation
| 1-Year | -1.0% ▼ |
| 3-Year CAGR | -1.0% ▼ |
| 5-Year CAGR | +3.9% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 Rent Trends
| 1-Year | -1.2% ▼ |
| 3-Year CAGR | -0.4% ▼ |
| 5-Year CAGR | +3.1% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 27604
Population: 44,094
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 27604
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is vacancy a concern in Raleigh, NC?
Expect elevated vacancy in Raleigh, NC. Rents at $1,616/mo are absorbed by the tenant base without meaningful lag.
Is Raleigh, NC a smart market for rental property?
With a 3.0/5 investability score, Raleigh, NC ranks as a solid market for rental property investors. Median prices of $344K and rents of $1,616/mo drive the underlying numbers.
Can I live-in-and-rent in Raleigh, NC?
House hacking in Raleigh, NC is a challenging. With home values around $344K and rents at $1,616/mo, owner-occupants can offset a meaningful share of PITI.
Does Raleigh, NC favor landlords or tenants?
Raleigh, NC operates under NC law, which is landlord-friendly overall for landlords. Expect measured treatment in typical lease and eviction cases.
Is it easy to find good tenants in Raleigh, NC?
The renter base in Raleigh, NC is reasonable for the $1,616/mo price point. Screening well and pricing to market typically yields consistent tenants.
You know 27604 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 27604 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 27604 ranks in Raleigh-Cary, NC
Every ZIP in this metro, ranked. Free.
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