ZIP Code · NC

ZIP 27615

Part of Raleigh, NC

Pop. 46,019·Wake County·163rd most expensive ZIP in North Carolina

Median rent (all units)

$1,501/mo

Year-over-Year

+4.1%

Month-over-Month

+0.9%

vs US Median

-$431

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 27615 · $1,501

More affordable than 73% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,190

1 BR

$1,246

2 BR

$1,363

3 BR

$1,709

4 BR+

$2,284

Research median

$1,363/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

March. Asking rents in ZIP 27615 usually run 1% below trend in March and 1.3% above it in August, about $35 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 27615 is at its highest level since Zillow's records here began in March 2021.

Past year vs. the rest of North Carolina

Rent in ZIP 27615 changed +4.1% over the year to September 2026. Across the 190 North Carolina ZIP codes Zillow tracks, the typical change was +2.6%.

Recent direction

Rent has risen 8 months in a row, and rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($112,754) is $2,819 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,470); a 4-bedroom is $3,300.

Rank in Raleigh

5th cheapest of 15 ZIP codes in Raleigh.

From Zillow's monthly rent index (ZORI) for ZIP 27615. 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

$18,012/yr

At $1,501/mo median

Location

CityRaleigh

StateNC

CountyWake County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.1% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.1% YoY, +0.9% MoM), not inventory.

Demographics

Who lives here

ZIP 27615 (Raleigh, NC) is majority owner-occupied, has a large retiree population, has a median income above the national average, 65% of residents hold a bachelor's degree or higher.

Population

46,019

Median income

$112,754

Median age

42.2

Renters

27.6%

Age distribution

20.9%

18.1%

27.8%

12.3%

20.9%

Under 1820.9%

18–3418.1%

35–5427.8%

55–6412.3%

65+20.9%

Gender

47.8%

52.2%

Male47.8%

Female52.2%

Race & ethnicity

74.7%

White74.7%

Black11.8%

Hispanic7.9%

Asian2.5%

Other3%

Education (25+)

21.5%

65%

No HS diploma3.1%

HS diploma10.3%

Some college21.5%

Bachelor's+65%

Housing tenure

72.4%

27.6%

Owner72.4%

Renter27.6%

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

2021 vs 2026

How ZIP 27615 in Raleigh, NC has changed in 5 years

Rent

$1,172 → $1,501

up 28.1%

Income

$92,762 → $112,754

up 21.6%

Population

45,047 → 46,019

up 2.2%

Renter share

28.9% → 27.6%

-1.3 pts

Bachelor's+

60.3% → 65%

+4.7 pts

Median age

42.8 → 42.2

-0.6 yrs

Five years ago, renters in ZIP 27615 in Raleigh, NC paid around $1,172 a month. That figure now sits near $1,501, up 28.1% from the 2021 baseline. Census figures show median household income at $112,754 today, compared with $92,762 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 27615 in Raleigh, NC adding about 972 residents over the five-year window, up 2.2% on net. Bachelor's-degree-or-higher attainment moved from 60.3% to 65% across the same window. 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 27615

Last updated: October 17, 2026

ZIP code 27615 covers Raleigh, NC. The median rent here is $1,501/mo as of October 2026. A 1-bedroom rents for a median of $1,246/mo. A 2-bedroom rents for a median of $1,363/mo.

At 16% of local median household income ($112,754/yr), ZIP 27615 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 27615?

To keep rent at or below 30% of gross income, you would need to earn at least $60,000/year (about $29/hour full-time) to afford the median rent of $1,501/mo in ZIP 27615. The local median household income is $112,754/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 27615?

Rent in ZIP 27615 has risen 4.1% over the past year as of September 2026. That is the highest level since Zillow's records here began in March 2021.

When is the cheapest time to rent in ZIP 27615?

Asking rents in ZIP 27615 are usually lowest in March, about 1% below their yearly trend, and highest in August, about 1.3% above it. At today's median that is a gap of roughly $35 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 27615 compare to other ZIPs in North Carolina?

ZIP 27615 is one of the more affordable among North Carolina ZIP codes for rent, ranking #163 of 230 at $1,501/mo. Over the year to September 2026, rent in ZIP 27615 changed +4.1%, against a typical +2.6% across the 190 North Carolina ZIP codes Zillow tracks.