Real Estate Investing in Raleigh, North Carolina (27606)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 27606 (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.
- High vacancy: 12.1% of homes vacant — above national norms.
What’s happening in Raleigh, NC (27606)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 27606 Raleigh
Not every below-median market is a bargain. Raleigh's 27606 ZIP clocks in at signals that favor experienced operators who can absorb the risk $442K pricing implies.
Rent of $1,496/mo on a $442K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 27606 sits below the stated 0.0% once reality is priced in.
Nearby ZIPs in Raleigh have seen price recovery that 27606 has not matched. Wake County data supports the view that the spread is structural rather than temporary.
From an investor standpoint, 45,728 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The 27606 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Raleigh:
Property Strategy for 27606
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $260,791 | $1,750 | 4.8% | +5.6% | $130,395 |
| 3BR | $423,055 | $2,200 | 3.7% | +7.1% | $141,018 |
| 4BR | $669,661 | $2,940 | 3.2% | +8.6% | $167,415 |
| 5BR | $856,754 | — | — | +9.0% | $171,351 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 27606 Compare?
| Metric | 27606 | Raleigh | Raleigh-Cary, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $442,142 | $469,319 | N/A | $330,565 |
| 5-Year CAGR | 4.2% | 4.5% | N/A | 7.8% |
| Avg Rent | $1,496 | $1,618 | N/A | - |
| Cap Rate | 2.6% | 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 27606 (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 | $442,142 |
| Monthly Rent | $1,496 |
| Price-to-Rent | 24.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.6% |
| 5-Year IRR | 6.8% |
📈 Home Appreciation
| 1-Year | +1.7% ▲ |
| 3-Year CAGR | +0.8% ▲ |
| 5-Year CAGR | +4.2% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 Rent Trends
| 1-Year | +0.8% ▲ |
| 3-Year CAGR | -0.2% ▼ |
| 5-Year CAGR | +4.8% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.6%). 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 27606
Population: 45,728
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 27606
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
What is the rental occupancy rate in Raleigh, NC?
Raleigh, NC vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What is the typical renter like in Raleigh, NC?
Tenant quality in Raleigh, NC ranks as solid. Landlords generally report predictable occupancy at market rents of $1,496/mo.
What strategy should investors use in Raleigh, NC?
A careful cash-flow rentals with hands-on management strategy Raleigh, NC best. The market produces even-keeled results for that approach at the $442K price point.
Can I live-in-and-rent in Raleigh, NC?
House hacking in Raleigh, NC is a challenging. With home values around $442K and rents at $1,496/mo, owner-occupants can offset a meaningful share of PITI.
What is the typical home price in Raleigh, NC?
In Raleigh, NC the median home value sits at $442K. Against the broader NC market, that reads as reasonable for most investors.
You know 27606 now. You don’t know where it ranks.
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How 27606 ranks in Raleigh-Cary, NC
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