ZIP 27587
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12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in ZIP 27587 usually run 1% below trend in January and 0.9% above it in August, about $34 a month apart at today's median. Based on 10 years of data.
Rent in ZIP 27587 is at its highest level since Zillow's records here began in January 2016.
Rent in ZIP 27587 changed +3.2% 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 27587 rose 36% while median household income rose 38.5% ($96,588 to $133,743). Income kept ahead of rent.
Rent in ZIP 27587 is 37.2% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 6 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($133,743) is $3,344 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,930).
ZIP 27614, 5 miles away, rents for 13% less ($1,556/mo), about $2,900 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 27587. 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 27587 (Wake Forest, NC) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 57.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 27587 in Wake Forest, NC has changed in 5 years
Across the past five years, the going rent in ZIP 27587 in Wake Forest, NC has shifted from $1,427 to $1,795, up 25.8% since 2021. Local incomes tracked alongside that move, going from a median of $107,114 in 2021 to $133,743 more recently. Census counts show ZIP 27587 in Wake Forest, NC adding about 4,929 residents over the five-year window, up 6.3% on net. The renter share has eased from 21.5% to 19%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 54.1% to 57.7% across the same window. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 27587 in Wake Forest, NC market of 2021.
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Tips for renters in ZIP 27587
Last updated: October 17, 2026
ZIP code 27587 covers Wake Forest, NC. The median rent here is $1,795/mo as of October 2026. A 1-bedroom rents for a median of $1,600/mo. A 2-bedroom rents for a median of $1,750/mo.
At 16% of local median household income ($133,743/yr), ZIP 27587 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.2% over the past year.
Frequently asked questions
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How does ZIP 27587 compare to the rest of Wake Forest?
At $1,795/mo, rent takes ~16% of ZIP 27587's median household income ($133,743/yr). The standard benchmark is 30%.
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