How much is a home worth in ZIP code 27587?

The typical home in 27587 is worth $515,569, based on the Zillow Home Value Index.

Are home values rising in 27587?

Home values in 27587 are down 1.6% over the past year, and up 5.9% a year over five years.

What is the typical rent in 27587?

A typical home in 27587 rents for about $1,805 a month, a gross rental yield of 4.2%.

What is the property tax rate in 27587?

The effective property tax rate in 27587 is 0.7% — roughly $3,616 a year on a typical home.

ZIP code 27587 has a population of 82,886 and a median household income of $133,743.

HousingHandbookReference data

…

U.S. ZIP Code · NC27587

Wake County · Raleigh-Cary, NC

Typical home value

$515,569^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -1.6%
5-year / yr: +5.9%
10-year / yr: +5.5%

Relative price

vs U.S.: +81.5%
vs metro: +23.7%
vs state: +81.1%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 27587 is worth $515,569 — 23.7% above the Raleigh-Cary, NC median. Over the past year, values have fallen 1.6%. Homes here rent for a typical $1,805 a month — a 4.2% gross rental yield. The effective property tax rate is 0.7%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,805^[2]
Gross yield: 4.2%^[2]
Cap rate: 2.5%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.7%^[3]
Typical annual tax: $3,616^[3]

#Climate risk

FEMA National Risk Index ratings for Wake County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: Relatively Low
Heat wave: Relatively High
Hurricane: Relatively Moderate
Tornado: Relatively High
Earthquake: Relatively Low
Winter weather: Relatively Moderate

#Who lives here

Population: 82,886^[3]
Median household income: $133,743^[3]

#Migration

Household moves in and out of Wake County over a year, from IRS tax-return data.

Net migration: +3,843^[5]
Moved in: 39,828
Moved out: 35,985

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 15
Elementary: 8
Middle: 2
High: 3

Wake Preparatory Academy
Other · Grades K–12 · Wake Preparatory Academy
2,203 students
Wake Forest High School
High · Grades 9–12 · Wake County Schools
2,075 students
Heritage High
High · Grades 9–12 · Wake County Schools
1,817 students
Franklin Academy
Other · Grades K–12 · Franklin Academy
1,652 students
Heritage Middle
Middle · Grades 6–8 · Wake County Schools
947 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield4.2%

Net yield (after ~40% expenses)2.5%

Annual rent$21,654

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,607

Loan principal$412,455

Down payment$103,114

Total interest paid$526,064

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.85

Monthly cost to own$3,337

Monthly rent$1,805

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 48th percentile^[1]
Rental yield: 47th percentile^[2]
Property tax: 62nd percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

1st for most populous in NCView list →

Frequently asked

How much is a home worth in ZIP code 27587?: The typical home in 27587 is worth $515,569, based on the Zillow Home Value Index.
Are home values rising in 27587?: Home values in 27587 are down 1.6% over the past year, and up 5.9% a year over five years.
What is the typical rent in 27587?: A typical home in 27587 rents for about $1,805 a month, a gross rental yield of 4.2%.
What is the property tax rate in 27587?: The effective property tax rate in 27587 is 0.7% — roughly $3,616 a year on a typical home.
Who lives in 27587?: ZIP code 27587 has a population of 82,886 and a median household income of $133,743.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

27601 vs 27587 →
Raleigh, NC
Typical home
$508,401
Gross yield
4.0%
27560 vs 27587 →
Morrisville, NC
Typical home
$505,518
Gross yield
4.0%
27571
Rolesville, NC
Typical home
$505,395
Gross yield
4.6%
27511
Cary, NC
Typical home
$502,410
Gross yield
3.7%
27615
Raleigh, NC
Typical home
$548,507
Gross yield
3.3%
27609
Raleigh, NC
Typical home
$559,144
Gross yield
3.4%

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Pit ZIP 27587 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · NC27587

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