Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$428,267−1.7% YoY · prices are falling
Market right nowBalanced, leaning buyersMore homes for sale than last year, 27% have cut their price
Income needed to buy, per year$92,839About 0.9× the local median income ($102,341): affordable for a typical household
Days on market64 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 Raleigh-Cary, NC is worth $428,267, down 1.7% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $414,317, so the area is 3.4% overvalued. It is a balanced market, leaning toward buyers: homes take about 64 days to sell, listings are up 8% from a year ago, 27% of listings have had a price cut. Zillow expects prices to fall about 0.5% over the next year. A household needs about $92,839 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 $102,341. Typical rent is $1,669 a month, or $2,114 for a house. In the latest IRS figures, 13,414 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
$428,267
Change in 1 year
−1.7%
Overvalued %
+3.4%
Show 7 more
Fair home value
$414,317
Change in 5 years
+16.1%
Zillow forecast, next 12 months
−0.5%
Home value to income
4.2×
Monthly mortgage payment (20% down)
$2,321
Income needed to afford it
$92,839
Property tax rate
0.69%
Rent and investing
Typical rent
$1,669
Typical rent for houses
$2,114
Price-to-rent ratio
21.4×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,689
Gross rental yield
4.68%
Cap rate (estimate)
3.04%
Market activity
Listings vs a year ago
+7.5%
Days on market
64
Listings with a price cut
26.8%
Show 3 more
Homes for sale
6,130
Pending sales per 100 listings
42
Asking price per sq ft
$213
People and jobs
Median household income
$102,341
Population change (1 year)
+2.4%
Unemployment rate
4.1%
Show 4 more
Population
1,595,720
Income adjusted for cost of living
$104,217
Net moves in (IRS)
+13,414
Cost of living (US = 100)
98.2
Schools, risk and environment
School rating (1 to 10)
7.2
FEMA hazard risk score (0 to 100)
91.7
Unhealthy air days a year
0
Show 4 more
Flood risk score
93.9
Wildfire risk score
55.1
Walkability (1 to 20)
8.9
Road, rail and air noise
55 dB
Questions people ask
Is Raleigh-Cary, NC overvalued?
Home prices in Raleigh-Cary, NC are slightly above what local incomes have historically supported: fair value is about $414,317, so the area is 3.4% overvalued.
Is Raleigh-Cary, NC a buyer's or seller's market?
Raleigh-Cary, NC is a balanced market, leaning toward buyers: homes take about 64 days to sell, listings are up 8% from a year ago, 27% of listings have had a price cut.
Are home prices going down in Raleigh-Cary, NC?
Home values in Raleigh-Cary, 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 Raleigh-Cary, NC?
A household needs about $92,839 a year to afford the typical home in Raleigh-Cary, NC at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $102,341.