How much is a home worth in ZIP code 27616?

The typical home in 27616 is worth $358,815, based on the Zillow Home Value Index.

Are home values rising in 27616?

Home values in 27616 are down 4.2% over the past year, and up 4.5% a year over five years.

What is the typical rent in 27616?

A typical home in 27616 rents for about $1,632 a month, a gross rental yield of 5.5%.

What is the property tax rate in 27616?

The effective property tax rate in 27616 is 0.7% — roughly $2,573 a year on a typical home.

ZIP code 27616 has a population of 63,520 and a median household income of $83,565.

HousingHandbookReference data

…

U.S. ZIP Code · NC27616

Wake County · Raleigh-Cary, NC

Typical home value

$358,815^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -4.2%
5-year / yr: +4.5%
10-year / yr: +6.2%

Relative price

vs U.S.: +26.3%
vs metro: -13.9%
vs state: +26.1%

Price history

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

The typical home in 27616 is worth $358,815 — 13.9% below the Raleigh-Cary, NC median. Over the past year, values have fallen 4.2%. Homes here rent for a typical $1,632 a month — a 5.5% 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: $1,632^[2]
Gross yield: 5.5%^[2]
Cap rate: 3.3%^[2]

#Property tax

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

Effective tax rate: 0.7%^[3]
Typical annual tax: $2,573^[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: 63,520^[3]
Median household income: $83,565^[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: 6
Elementary: 4
Middle: 2
High: 0

River Bend Middle
Middle · Grades 6–8 · Wake County Schools
989 students
Harris Creek Elementary
Elementary · Grades PK–5 · Wake County Schools
839 students
East Millbrook Middle
Middle · Grades 6–8 · Wake County Schools
744 students
River Bend Elementary
Elementary · Grades PK–5 · Wake County Schools
683 students
Wildwood Forest Elementary
Elementary · Grades PK–5 · Wake County Schools
551 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 yield5.5%

Net yield (after ~40% expenses)3.3%

Annual rent$19,586

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$1,814

Loan principal$287,052

Down payment$71,763

Total interest paid$366,119

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 ratio1.43

Monthly cost to own$2,329

Monthly rent$1,632

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: 5th percentile^[1]
Rental yield: 67th percentile^[2]
Property tax: 69th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

10th for most populous in NCView list →

Frequently asked

How much is a home worth in ZIP code 27616?: The typical home in 27616 is worth $358,815, based on the Zillow Home Value Index.
Are home values rising in 27616?: Home values in 27616 are down 4.2% over the past year, and up 4.5% a year over five years.
What is the typical rent in 27616?: A typical home in 27616 rents for about $1,632 a month, a gross rental yield of 5.5%.
What is the property tax rate in 27616?: The effective property tax rate in 27616 is 0.7% — roughly $2,573 a year on a typical home.
Who lives in 27616?: ZIP code 27616 has a population of 63,520 and a median household income of $83,565.

#Comparable ZIPs

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

27525 vs 27616 →
Franklinton, NC
Typical home
$356,817
Gross yield
5.6%
27545 vs 27616 →
Knightdale, NC
Typical home
$371,035
Gross yield
5.5%
27591
Wendell, NC
Typical home
$372,536
Gross yield
6.2%
27604
Raleigh, NC
Typical home
$343,658
Gross yield
5.6%
27597
Zebulon, NC
Typical home
$342,991
Gross yield
6.9%
27520
Clayton, NC
Typical home
$338,892
Gross yield
6.3%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 27616 against any other ZIP — full side-by-side table.

Compare 27616 →

#Jump to section

U.S. ZIP Code · NC27616

Get more data on ZIPs like this

Get more data on ZIPs like this