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ZIP Code · NC

ZIP 27516

Part of Carrboro, NC
Pop. 47,358·Orange County·9th most expensive ZIP in North Carolina
Median rent (all units)
$2,272/mo
Year-over-Year
+7.4%
Month-over-Month
+2.5%
vs US Median
+$307
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 27516 · $2,272
More expensive than 72% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,420
1 BR
$1,510
2 BR
$1,710
3 BR
$2,120
4 BR+
$2,530
Research median
$1,710/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$27,264/yr
At $2,272/mo median
Location
StateNC
CountyOrange County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 7.4% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+7.4% YoY, +2.5% MoM), not inventory.
Demographics

Who lives here

ZIP 27516 (Carrboro, NC) is majority owner-occupied, has a median income above the national average, 72.8% of residents hold a bachelor's degree or higher.

Population
47,358
Median income
$106,353
Median age
36.9
Renters
29.3%
Age distribution
21.7%
26.2%
26.4%
14.9%
Under 1821.7%
18–3426.2%
35–5426.4%
55–6410.7%
65+14.9%
Gender
47.5%
52.5%
Male47.5%
Female52.5%
Race & ethnicity
68.9%
White68.9%
Black8.8%
Hispanic8.1%
Asian9.6%
Other4.7%
Education (25+)
15.7%
72.8%
No HS diploma4.1%
HS diploma7.4%
Some college15.7%
Bachelor's+72.8%
Housing tenure
70.7%
29.3%
Owner70.7%
Renter29.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 27516 in Carrboro, NC has changed in 5 years

Rent
$1,588 → $2,272
up 43.1%
Income
$85,714 → $106,353
up 24.1%
Population
44,587 → 47,358
up 6.2%
Renter share
31.4% → 29.3%
-2.1 pts
Bachelor's+
70.2% → 72.8%
+2.6 pts
Median age
35.6 → 36.9
+1.3 yrs

Compared with 2021, rent in ZIP 27516 in Carrboro, NC has climbed by $684 per month, settling near $2,272 after starting the period at $1,588. On the earnings side, the typical household in ZIP 27516 in Carrboro, NC now reports about $106,353, up from $85,714 in 2021. Rent outpaced income growth by roughly 19.0 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 44,587 to 47,358 between 2021 and 2024, a 6.2% change. About 29.3% of households rent today, against 31.4% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 70.2% to 72.8%. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 27516 in Carrboro, NC reflects that arc in its own way.

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Local insights

Tips for renters in ZIP 27516

About renting in ZIP 27516

Last updated: July 20, 2026

ZIP code 27516 covers Carrboro, NC. The median rent here is $2,272/mo as of July 2026. A 1-bedroom rents for a median of $1,510/mo. A 2-bedroom rents for a median of $1,710/mo.

At 26% of local median household income ($106,353/yr), ZIP 27516 ranks as affordable compared to the national benchmark of 30%. Rents have increased 7.4% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 27516?

As of July 20, 2026, the median monthly rent in ZIP 27516 (Carrboro, NC) is $2,272. This is based on aggregated data from public sources and community submissions.

How does ZIP 27516 rent compare to the US average?

ZIP 27516's median rent of $2,272/mo is $307 (16%) above the US national median of $1,965/mo.

How does ZIP 27516 compare to other ZIPs in North Carolina?

ZIP 27516 is one of the pricier ZIP codes in North Carolina, ranking #9 out of 227 ZIPs tracked at $2,272/mo.

How much income do you need to rent in ZIP 27516?

To keep rent at or below 30% of gross income, you would need to earn at least $91,000/year (~$44/hour full-time) to afford the median rent of $2,272/mo in ZIP 27516. The local median household income is $106,353/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 27516?

Rent in ZIP 27516 has increased 7.4% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 27516 an affordable place to rent?

ZIP 27516 is considered affordable for renters. At $2,272/mo, rent takes approximately 26% of the local median household income ($106,353/yr). The standard benchmark is 30%. ZIP 27516 falls comfortably within that range.

What percentage of ZIP 27516 residents rent vs. own?

According to Census data, approximately 29.3% of ZIP 27516 households are renters, while 70.7% are owner-occupied. ZIP 27516 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 27516 compare to the rest of Carrboro?

ZIP 27516 is pricier than Carrboro as a whole. At $2,272/mo, it's $792 above the Carrboro citywide median of $1,480/mo.

When was rent data for ZIP 27516 last updated?

Rent data for ZIP 27516 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
26%
AFFORDABLE

At $2,272/mo, rent takes ~26% of ZIP 27516's median household income ($106,353/yr). The standard benchmark is 30%.

ZIP 27516 26%Benchmark 30%
State income tax4.5%
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Schools nearby

Public schools near ZIP 27516 (Carrboro, NC)

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