Rental numbers for Wake County, NC
The typical home here runs -$1,961 a month at 7.78% with 25% down. 0 of 31 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 4.2%.
- Gross yield
- 4.2%
- typical home, Zillow
- Median ZIP yield
- 4.2%
- 31 ZIPs with full data
- Cash flow
- -$1,961/mo
- at 7.78%, 25% down
- Typical price
- $474,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $1,665/mo
- Zillow ZORI, Aug 2026
ZIP codes in Wake County
33 with published figures
| 27610Raleigh | $313,000 | $1,860 | 7.1% | 3.9% | -$676 | -0.3% |
| 27597Zebulon | $341,000 | $1,965 | 6.9% | 3.7% | -$774 | +1.7% |
| 27591Wendell | $367,000 | $1,836 | 6.0% | 3.0% | -$1,055 | -2.8% |
| 27529Garner | $383,000 | $1,854 | 5.8% | 2.8% | -$1,156 | +0.4% |
| 27571Rolesville | $497,000 | $2,402 | 5.8% | 2.8% | -$1,522 | n/a |
| 27604Raleigh | $338,000 | $1,594 | 5.7% | 2.6% | -$1,088 | +3.2% |
| 27616Raleigh | $351,000 | $1,635 | 5.6% | 2.5% | -$1,147 | +0.4% |
| 27545Knightdale | $364,000 | $1,687 | 5.6% | 2.6% | -$1,182 | +1.5% |
| 27526Fuquay Varina | $438,000 | $1,932 | 5.3% | 2.5% | -$1,446 | +1.9% |
| 27605Raleigh | $404,000 | $1,763 | 5.2% | 2.2% | -$1,440 | -2.8% |
| 27603Raleigh | $411,000 | $1,726 | 5.0% | 2.2% | -$1,450 | +1.4% |
| 27502Apex | $563,000 | $2,102 | 4.5% | 1.8% | -$2,179 | -0.0% |
| 27587Wake Forest | $508,000 | $1,813 | 4.3% | 1.6% | -$2,060 | +3.7% |
| 27511Cary | $496,000 | $1,759 | 4.3% | 1.6% | -$2,026 | +2.5% |
| 27617Raleigh | $435,000 | $1,516 | 4.2% | 1.4% | -$1,837 | -1.4% |
| 27601Raleigh | $497,000 | $1,720 | 4.2% | 1.5% | -$2,061 | -0.6% |
| 27560Morrisville | $493,000 | $1,693 | 4.1% | 1.4% | -$2,094 | +1.9% |
| 27606Raleigh | $437,000 | $1,466 | 4.0% | 1.3% | -$1,873 | +1.1% |
| 27592Willow Spring | $411,000 | $1,350* | 3.9% | 1.4% | -$1,745 | n/a |
| 27540Holly Springs | $577,000 | $1,805 | 3.8% | 1.2% | -$2,551 | +2.0% |
| 27562New Hill | $681,000 | $2,020* | 3.6% | 1.0% | -$3,077 | n/a |
| 27513Cary | $557,000 | $1,610 | 3.5% | 0.9% | -$2,579 | -0.8% |
| 27539Apex | $603,000 | $1,745 | 3.5% | 1.1% | -$2,719 | +3.4% |
| 27519Cary | $695,000 | $1,987 | 3.4% | 1.0% | -$3,182 | +2.1% |
| 27615Raleigh | $540,000 | $1,505 | 3.3% | 0.8% | -$2,565 | +2.7% |
| 27523Apex | $733,000 | $1,941 | 3.2% | 0.8% | -$3,472 | -0.3% |
| 27609Raleigh | $553,000 | $1,441 | 3.1% | 0.6% | -$2,705 | +0.0% |
| 27612Raleigh | $573,000 | $1,489 | 3.1% | 0.6% | -$2,815 | -1.1% |
| 27613Raleigh | $591,000 | $1,394 | 2.8% | 0.4% | -$2,970 | +1.9% |
| 27614Raleigh | $678,000 | $1,520 | 2.7% | 0.4% | -$3,449 | 0.0% |
| 27607Raleigh | $717,000 | $1,595 | 2.7% | 0.3% | -$3,664 | +1.3% |
| 27518Cary | $735,000 | $1,563 | 2.5% | 0.2% | -$3,829 | +0.8% |
| 27608Raleigh | $1,046,000 | $2,038 | 2.3% | 0.1% | -$5,573 | +1.3% |
* HUD Fair Market Rent, 2 bedroom, where Zillow publishes no rent index. Conservative.
Trends
Five years to August 2026
- Price, 12 months
- -1.7%
- Rent, 12 months
- +0.8%
- Rent minus price growth
- +2.5 pts
- Property tax
- 0.71%
- effective rate, ACS 2024
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $393,555 | $1,478 |
| Aug 2022 | $493,956 | $1,647 |
| Aug 2023 | $480,631 | $1,660 |
| Aug 2024 | $493,046 | $1,653 |
| Aug 2025 | $482,681 | $1,652 |
| Aug 2026 | $474,337 | $1,665 |
HUD Fair Market Rent
FY2027, Raleigh-Cary, NC MSA
| Bedrooms | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| Fair Market Rent | $1,489 | $1,552 | $1,689 | $2,103 | $2,823 |
The 40th percentile gross rent for a standard unit, set by HUD each October and used for Section 8 payment standards. It runs below market rent; Zillow's index is shown above where it exists.
Supply
- Permits per 1,000 households
- 31.7
- 14,581 units, last 12 months
- National percentile
- 97th
- among US counties
Tools
Test a listing in Wake County against today's rate.
Open the calculatorPart of the Raleigh, NC metro.
Questions
- Is Wake County good for rental property?
- The typical home here runs -$1,961 a month at 7.78% with 25% down. 0 of 31 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 4.2%. The figures use a typical home, 7.78% with 25% down and default costs shown on each ZIP page. They describe the market, not any one property.
- What is the property tax rate in Wake County?
- About 0.71% of value, from Census ACS median taxes paid over median home value. On a $474,000 home that is about $3,354 a year.
- What is Fair Market Rent in Wake County?
- HUD's FY2027 Fair Market Rent here is $1,552 for a 1-bedroom, $1,689 for a 2-bedroom and $2,103 for a 3-bedroom. Typical cash flow at today's rate is -$1,961 a month.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- HUD Fair Market Rents by county, FY2027
US Department of Housing and Urban Development. Read: FY2027.
County rent by bedroom count on county pages.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
- Building Permits Survey, county monthly files
US Census Bureau. Read: 2025-09 to 2026-08.
New housing units permitted in the last 12 months per 1,000 households, a supply-pressure signal.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.