Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$471,020−1.7% YoY · prices are falling
Market right nowBalanced, leaning buyersMore homes for sale than last year, 26% have cut their price
Income needed to buy, per year$102,107About 1.0× the local median income ($107,083): affordable for a typical household
Days on market61 daysSlower than a year ago: buyers have time to negotiate
Next 12 months−0.5%Zillow expects prices to stay about flat
The typical home in Wake County, NC is worth $471,020, down 1.7% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $450,716, so the area is 4.5% overvalued. It is a balanced market, leaning toward buyers: homes take about 61 days to sell, listings are up 7% from a year ago, 26% of listings have had a price cut. Zillow expects prices to fall about 0.5% over the next year. A household needs about $102,107 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $107,083. Typical rent is $1,659 a month, or $2,102 for a house. In the latest IRS figures, 6,950 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$471,020
Change in 1 year
−1.7%
Overvalued %
+4.5%
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Fair home value
$450,716
Change in 5 years
+17.9%
Zillow forecast, next 12 months
−0.5%
Home value to income
4.4×
Monthly mortgage payment (20% down)
$2,553
Income needed to afford it
$102,107
Property tax rate
0.71%
Rent and investing
Typical rent
$1,659
Typical rent for houses
$2,102
Price-to-rent ratio
23.7×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,689
Gross rental yield
4.23%
Cap rate (estimate)
2.75%
Market activity
Listings vs a year ago
+7.4%
Days on market
61
Listings with a price cut
26.5%
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Homes for sale
4,376
Pending sales per 100 listings
42
Asking price per sq ft
$225
People and jobs
Median household income
$107,083
Population change (1 year)
+2.3%
Unemployment rate
4.1%
Show 4 more
Population
1,257,235
Income adjusted for cost of living
$109,046
Net moves in (IRS)
+6,950
Cost of living (US = 100)
98.2
Schools, risk and environment
School rating (1 to 10)
8.1
FEMA hazard risk score (0 to 100)
95.5
Unhealthy air days a year
0
Show 4 more
Flood risk score
97.7
Wildfire risk score
57.4
Walkability (1 to 20)
9.8
Road, rail and air noise
55 dB
Questions people ask
Is Wake County, NC overvalued?
Home prices in Wake County, NC are slightly above what local incomes have historically supported: fair value is about $450,716, so the area is 4.5% overvalued.
Is Wake County, NC a buyer's or seller's market?
Wake County, NC is a balanced market, leaning toward buyers: homes take about 61 days to sell, listings are up 7% from a year ago, 26% of listings have had a price cut.
Are home prices going down in Wake County, NC?
Home values in Wake County, NC are down 1.7% over the last year. Zillow's forecast for the next 12 months is −0.5%.
How much do you need to earn to buy a home in Wake County, NC?
A household needs about $102,107 a year to afford the typical home in Wake County, NC at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $107,083.