The story of this market
The typical home in ZIP 27608 sells for about $1,120,000, or $435 per square foot.
Prices are down 15.8% from a year ago, which gives buyers more room to negotiate. Homes take about 25 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,878 a month.
ZIP 27608 — Raleigh
The 27608 housing market remains a premium enclave within Raleigh, characterized by high price points and low inventory. While year-over-year prices have corrected from recent peaks, the market maintains strong demand for historic properties, supported by the area's high median income and proximity to major employment centers.
This ZIP is ideal for affluent families, professionals, and downsizers who value historic charm, walkability, and proximity to the cultural and economic heart of Raleigh.
Median prices moved down 15.8% year over year.
Homes spend a median of 25 days on market with 1.2 months of supply — a fast-moving market.
23% of listings have cut prices · homes sell at 99% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.0% · poverty 2.0% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 27608, Wake County NC
The area is served by highly-rated schools within the Wake County Public School System, known for strong academic performance and competitive college readiness metrics.
The area is generally considered low-risk for major natural disasters, though standard property insurance coverage for wind and storm damage is recommended for the region.
The ZIP benefits from proximity to downtown Raleigh's employment hubs and major research institutions, with ongoing infill development and historic preservation efforts.
Property taxes are assessed by Wake County based on fair market value, with additional municipal taxes for the City of Raleigh; no special MUD/PID districts are typically attached to these established historic parcels.
Residents enjoy a short commute to downtown Raleigh and the Research Triangle Park via major corridors like I-440 and Glenwood Avenue.
The area features extensive access to historic parks, greenways, and upscale shopping and dining districts such as Cameron Village and Five Points.
The rental market is characterized by high demand for historic single-family homes and luxury apartments, with limited vacancy pressure due to the area's desirability.
The economy is anchored by the Research Triangle's technology, healthcare, and education sectors, providing a stable employment base for the region.
The area is well-connected by major arterial roads and is served by the GoRaleigh transit system, facilitating access to the broader metro area.
Development is primarily focused on high-end residential infill and the revitalization of existing commercial corridors.
Wake County utilizes a mass appraisal system with periodic revaluations to ensure property assessments reflect current market conditions.
Parcels are subject to Wake County and City of Raleigh tax jurisdictions, with no significant special utility districts reported.
Property insurance premiums are stable, though coverage for wind and hail is standard for the North Carolina Piedmont region.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Frankie's of Raleigh4.411.2 mi
- Fantasy Lake Adventure Park4.714.5 mi
- Dave & Buster's Cary46.6 mi
- Happy Feet Planet Apex4.712.9 mi
- Urban Air Trampoline and Adventure Park4.19.6 mi
- Lenovo Center4.54 mi
- North Carolina Museum of Art4.82.9 mi
- North Carolina State Fair4.43.6 mi
- Atlantic Union Bank Convention Center4.62.3 mi
- Coastal Credit Union Music Park at Walnut Creek4.45.6 mi
- North Carolina Museum of Natural Sciences4.81.8 mi
- North Carolina Museum of Art4.82.9 mi
- Downtown Cary Park4.87.4 mi
- Dix Park4.72.5 mi
- Pullen Park4.72 mi
- North Carolina Museum of Natural Sciences4.81.8 mi
- North Carolina Museum of Art4.82.9 mi
- Marbles Kids Museum4.82.1 mi
- Historic Yates Mill County Park4.76.1 mi
- North Carolina State Capitol4.61.9 mi
- North Carolina Museum of Art4.82.9 mi
- Downtown Cary Park4.87.4 mi
- Dix Park4.72.5 mi
- Pullen Park4.72 mi
- Gipson Play Plaza4.62.7 mi
- Topgolf3.811.5 mi
- Drive Shack4.74.9 mi
- Knights Play Golf Center4.311.1 mi
- Prestonwood Country Club4.710.4 mi
- Pin Point Indoor Pickleball & Golf4.63.7 mi
- Crabtree4.42.9 mi
- H Mart Cary4.611.1 mi
- Triangle Town Center4.26 mi
- State Farmers Market4.73 mi
- Fenton4.66.2 mi
- Raleigh-Durham International Airport4.49.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A landmark residential area known for its historic architecture and community character.
A major retail and dining hub serving the local community.
A popular local park offering green space and recreational facilities.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).