ZIP Code · NC

ZIP 27607

Part of Raleigh, NC

Pop. 28,438·Wake County·135th most expensive ZIP in North Carolina

Median rent (all units)

$1,594/mo

Year-over-Year

+3.4%

Month-over-Month

+1.0%

vs US Median

-$338

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 27607 · $1,594

More affordable than 66% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,550

1 BR

$1,620

2 BR

$1,780

3 BR

$2,230

4 BR+

$2,990

Research median

$1,780/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: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

December. Asking rents in ZIP 27607 usually run 1.5% below trend in December and 2% above it in July, about $56 a month apart at today's median. Based on 9 years of data.

Compared with the peak

Rent in ZIP 27607 is at its highest level since Zillow's records here began in July 2017.

Past year vs. the rest of North Carolina

Rent in ZIP 27607 changed +3.4% over the year to September 2026. Across the 190 North Carolina ZIP codes Zillow tracks, the typical change was +2.6%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 27607 rose 36.2% while median household income rose 17% ($82,688 to $96,775). Rent outpaced income.

Since before the pandemic

Rent in ZIP 27607 is 31% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($96,775) is $2,419 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,230); a 4-bedroom is $2,990.

Rank in Raleigh

9th cheapest of 15 ZIP codes in Raleigh.

Cheaper nearby

ZIP 27609, 5 miles away, rents for 13% less ($1,381/mo), about $2,600 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 27607. 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.

Annual cost

$19,128/yr

At $1,594/mo median

Location

CityRaleigh

StateNC

CountyWake County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.4% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.4% YoY, +1.0% MoM), not inventory.

Demographics

Who lives here

ZIP 27607 (Raleigh, NC) is majority renter-occupied, skews toward younger working-age adults, has a median income above the national average, 70.7% of residents hold a bachelor's degree or higher.

Population

28,438

Median income

$96,775

Median age

25.7

Renters

56%

Age distribution

13.1%

52.2%

19.4%

Under 1813.1%

18–3452.2%

35–5419.4%

55–647.1%

65+8.2%

Gender

45.2%

54.8%

Male45.2%

Female54.8%

Race & ethnicity

72.6%

14%

White72.6%

Black14%

Hispanic6.2%

Asian4.6%

Other2.6%

Education (25+)

17.4%

70.7%

No HS diploma4%

HS diploma7.9%

Some college17.4%

Bachelor's+70.7%

Housing tenure

44%

56%

Owner44%

Renter56%

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

2021 vs 2026

How ZIP 27607 in Raleigh, NC has changed in 5 years

Rent

$1,232 → $1,594

up 29.4%

Income

$76,486 → $96,775

up 26.5%

Population

27,128 → 28,438

up 4.8%

Renter share

53.5% → 56%

+2.5 pts

Bachelor's+

69.6% → 70.7%

+1.1 pts

Median age

24.3 → 25.7

+1.4 yrs

Rent in ZIP 27607 in Raleigh, NC has climbed 29.4% since 2021, going from about $1,232 per month to roughly $1,594 today. Census figures show median household income at $96,775 today, compared with $76,486 five years earlier. Headcount in the area went from 27,128 to 28,438 between 2021 and 2024, a 4.8% change. About 56% of households rent today, against 53.5% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

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About renting in ZIP 27607

Last updated: October 17, 2026

ZIP code 27607 covers Raleigh, NC. The median rent here is $1,594/mo as of October 2026. A 1-bedroom rents for a median of $1,620/mo. A 2-bedroom rents for a median of $1,780/mo.

At 20% of local median household income ($96,775/yr), ZIP 27607 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 27607?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (about $31/hour full-time) to afford the median rent of $1,594/mo in ZIP 27607. The local median household income is $96,775/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 27607?

Rent in ZIP 27607 has risen 3.4% over the past year as of September 2026. That is the highest level since Zillow's records here began in July 2017.

When is the cheapest time to rent in ZIP 27607?

Asking rents in ZIP 27607 are usually lowest in December, about 1.5% below their yearly trend, and highest in July, about 2% above it. At today's median that is a gap of roughly $56 a month. This pattern comes from 9 years of Zillow rent data.

Has rent outpaced income in ZIP 27607?

Yes. From 2019 to 2024, rent in ZIP 27607 rose 36.2% while median household income rose 17%, from $82,688 to $96,775. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 27607 compare to other ZIPs in North Carolina?

ZIP 27607 is in the middle among North Carolina ZIP codes for rent, ranking #135 of 230 at $1,594/mo. Over the year to September 2026, rent in ZIP 27607 changed +3.4%, against a typical +2.6% across the 190 North Carolina ZIP codes Zillow tracks.