Apartments & Homes for Rent in 27606

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What to Know About

Living in 27606

Raleigh, known as the "City of Oaks" because of the many oak trees that line the streets, is a city that offers a unique cultural experience nestled in a thriving business community. It's located in the heart of North Carolina's Research Triangle, home to many world-class universities and research institutions, making it an excellent place for education and innovation. It also offers multiple cultural attractions, such as the North Carolina Museum of Natural Sciences, North Carolina Museum of Art, Duke Energy Center for the Performing Arts, Carolina Ballet, Raleigh Little Theatre, and Marbles Kids Museum.

Raleigh is known for its passionate sports fans who cheer for the Carolina Hurricanes (NHL) and NC State Wolfpack. It's also the home of the North Carolina State Fair and many beautiful parks, including the William B. Umstead State Park and Pullen Park. In addition to these fantastic qualities, Raleigh is known for its proximity to the beautiful North Carolina coast and the Appalachian Mountains, along with its excellent restaurants and craft breweries.

Raleigh is a dynamic and exciting city that offers its residents a high quality of life and many opportunities, making it a great place to live.

Rental Market Trends

Raleigh, NC

As of May 2025, Raleigh's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Raleigh's average rent is 2.2% ($35) higher than the North Carolina average of $1,593 and 9.2% ($165) lower than the U.S. average of $1,793.

Average Rent
$1,628
Monthly ChangeMonth Over Month Change
Decreased0.7% ($12)
Yearly ChangeYear Over Year Change
Decreased5.3% ($91)
Avg. Days on MarketAverage Days on Market
28
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,425 No change Decreased4.2% ($63)
2 Beds $1,671 Decreased0.3% ($5) Decreased3.1% ($54)
3 Beds $1,998 Increased2.7% ($53) Decreased1.5% ($30)
Nearby Cities Average Rent Avg. Rent vs. RaleighAverage Rent vs. Raleigh Avg. Days on MarketAverage Days on Market
Cary $1,756 Increased7.9% ($128) 20 days
Knightdale $1,690 Increased3.8% ($62) 31 days
Morrisville $1,712 Increased5.2% ($84) 20 days
Garner $1,678 Increased3.1% ($50) 28 days
Rolesville $1,614 Decreased0.9% ($14) 26 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Raleigh Rental Market FAQs

Explore rental prices, market trends, and availability in Raleigh, NC.

The average rent in Raleigh, NC is $1,628 per month.
Homes in Raleigh typically rent for between $998 and $2,597 per month, with an average of $1,628 per month.
In Raleigh, the average rent for a 1-bedroom home is $1,425 per month, for a 2-bedroom home, $1,671 per month, and a 3-bedroom home is $1,998 per month.
The average rent in Raleigh is 9.2% ($165) lower than the national average of $1,793 per month.
The average rent in Raleigh has decreased by 0.7% ($12) in the last month and decreased by 5.3% ($91) over the past year.
The rental market in Raleigh, NC, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Raleigh, NC, the average rental stays on the market for approximately 28 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 793 rental properties available in Raleigh, NC.
Based on the current averages, a household would need an annual income of $66,840 to comfortably afford a 2-bedroom home in Raleigh.
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