ZIP 27516
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Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in ZIP 27516 usually run 2.3% below trend in January and 1.7% above it in July, about $92 a month apart at today's median. Based on 8 years of data.
Rent in ZIP 27516 is 0.2% below its high of $2,302 in August 2026, at $2,297 as of September 2026.
Rent in ZIP 27516 changed +4.4% over the year to September 2026. Across the 190 North Carolina ZIP codes Zillow tracks, the typical change was +2.6%.
From 2019 to 2024, rent in ZIP 27516 rose 40.5% while median household income rose 25.4% ($84,783 to $106,353). Rent outpaced income.
Rent in ZIP 27516 is 47.8% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent rose in 9 of the last 12 months.
30% of the median household income ($106,353) is $2,659 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,530).
ZIP 27510, 4 miles away, rents for 32% less ($1,564/mo), about $8,800 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 27516. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 27516 in Carrboro, NC has changed in 5 years
Compared with 2021, rent in ZIP 27516 in Carrboro, NC has climbed by $661 per month, settling near $2,297 after starting the period at $1,636. 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 16.3 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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Tips for renters in ZIP 27516
Last updated: October 17, 2026
ZIP code 27516 covers Carrboro, NC. The median rent here is $2,297/mo as of October 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 4.4% over the past year.
Frequently asked questions
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How does ZIP 27516 compare to other ZIPs in North Carolina?
How does ZIP 27516 compare to the rest of Carrboro?
At $2,297/mo, rent takes ~26% of ZIP 27516's median household income ($106,353/yr). The standard benchmark is 30%.
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