Raleigh-Cary, NC · North Carolina
Wake County
ZIP 27603
1.2M residents14,447 permits TTM$101,763 median HHI32 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$422,800
ACS 5-Year
Cap rate proxy
5.0%
FMR × 0.65 ÷ Home Value
Rent-to-income
17.8%
HUD FMR ÷ ACS HHI
Net migration
+2.92%
IRS SOI
Permits (TTM)
14,447
Census BPS
Climate risk
95.5
FEMA NRI (0–100)
ZIP 27603
Median home value
$422,800
Gross yield
4.7%
Buy Box score
0.6
Section 8 gap
10.7%
Affordability
P/I: 4.0R/I: 20.0%
Section 8 detail
SAFMR: $1,670Rent: $1,508Gap: 10.7%
ZIP code breakdown32 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate ↓ | Rent gap |
|---|---|---|---|---|---|
| 27610 | $422,800 | $1,540 | 4.4% | 7.2% | -23.5% |
| 27597 | $422,800 | $1,350 | 3.8% | 6.8% | -41.6% |
| 27591 | $422,800 | $1,490 | 4.2% | 6.4% | -32.1% |
| 27604 | $422,800 | $1,720 | 4.9% | 5.6% | 7.6% |
| 27529 | $422,800 | $1,660 | 4.7% | 5.5% | -6.5% |
| 27616 | $422,800 | $1,820 | 5.2% | 5.4% | 11.7% |
| 27545 | $422,800 | $1,790 | 5.1% | 5.3% | 8.8% |
| 27603 | $422,800 | $1,670 | 4.7% | 5.0% | -1.4% |
| 27605 | $422,800 | $1,930 | 5.5% | 4.9% | 14.5% |
| 27571 | $422,800 | $1,750 | 5.0% | 4.6% | -10.5% |
| 27502 | $422,800 | $2,140 | 6.1% | 4.5% | 0.5% |
| 27592 | $422,800 | $1,350 | 3.8% | 4.4% | -11.7% |
| 27695 | $422,800county est. | $1,780 | 5.1% | 4.3% | 15.3% |
| 27697 | $422,800county est. | $1,810 | 5.1% | 4.3% | 16.7% |
| 27601 | $422,800 | $1,840 | 5.2% | 4.2% | 4.2% |
| 27587 | $422,800 | $1,750 | 5.0% | 4.2% | -2.3% |
| 27617 | $422,800 | $2,010 | 5.7% | 4.2% | 24.1% |
| 27606 | $422,800 | $1,750 | 5.0% | 4.1% | 15.1% |
| 27540 | $422,800 | $2,110 | 6.0% | 4.0% | 9.5% |
| 27511 | $422,800 | $1,620 | 4.6% | 3.9% | 2.2% |
| 27560 | $422,800 | $2,230 | 6.3% | 3.8% | 29.1% |
| 27609 | $422,800 | $1,820 | 5.2% | 3.4% | 15.1% |
| 27539 | $422,800 | $2,040 | 5.8% | 3.4% | 17.2% |
| 27615 | $422,800 | $1,970 | 5.6% | 3.2% | 26.4% |
| 27519 | $422,800 | $2,240 | 6.4% | 3.2% | 16.1% |
| 27513 | $422,800 | $1,920 | 5.4% | 3.1% | 23.9% |
| 27612 | $422,800 | $2,060 | 5.8% | 3.0% | 30.7% |
| 27613 | $422,800 | $1,740 | 4.9% | 2.9% | 19.6% |
| 27614 | $422,800 | $1,860 | 5.3% | 2.6% | 20.5% |
| 27607 | $422,800 | $1,780 | 5.1% | 2.6% | 15.4% |
| 27518 | $422,800 | $1,900 | 5.4% | 2.5% | 21.7% |
| 27608 | $422,800 | $1,760 | 5.0% | 2.4% | -12.9% |
Sort by any column. Click a ZIP for detail. Rent gap: green = HUD FMR above market rent.
Demographics
Owner-occupied
64.4%
Census ACS
Vacancy rate
7.5%
Census ACS
Bachelor's degree +
56.3%
Census ACS
Rent burdened
45.6%
Census ACS (>30% income)
Median age
37.2
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026