Average Rent in 27616, Raleigh, NC

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Current Versus Historical 27616, Raleigh, NC Rents

27616 rentals average $1,899 for a studio rental to $2,350 for a 4-bedroom rental. The median price of all currently available listings is $1,895, or roughly $14 per square feet.

For the apartment units and housing in July 2026, median rents have fallen over the last year. Studio rentals prices have increased by $178 (10.32%) year-over-year from $1,721 to $1,899. 1-bedroom rentals prices have decreased by $141 (-9.00%) year-over-year from $1,564 to $1,424. 2-bedroom rentals prices have increased by $6 (0.35%) year-over-year from $1,570 to $1,575. 3-bedroom rentals prices have increased by $8 (0.44%) year-over-year from $1,882 to $1,890. 4-bedroom rentals prices have decreased by $35 (-1.45%) year-over-year from $2,385 to $2,350. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 9.55% this month. 1-bedroom rents have gone down by 1.76% this month. 2-bedroom rents have gone up by 3.17% this month. 3-bedroom rents have gone up by 2.02% this month. 4-bedroom rents have gone down by 4.67% this month.

Beds	Price / Sqft	Jul 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$11.98	$1,899	$1,721 (10.32%)	$4,703 (-59.63%)
1 BR	$25.78	$1,424	$1,564 (-9.00%)	$1,256 (13.31%)
2 BR	$14.77	$1,575	$1,570 (0.35%)	$1,596 (-1.31%)
3 BR	$14.03	$1,890	$1,882 (0.44%)	$1,848 (2.25%)
4+ BR	$12.39	$2,350	$2,385 (-1.45%)	$2,307 (1.88%)

Historical Rents in 27616, Raleigh, NC

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near 27616

There are a total of 7 cities nearby 27616. The average rent in 27616 is currently $1,995 per month. Only one city nearby has an average rent lower than that. Our records show that Raleigh, NC, with an average rent of $1,850, is the most affordable city nearby. In contrast, the most expensive city near 27616, Raleigh, NC is Cary, NC. Monthly rents here are on average $2,299 per month.

Let's compare 27616, Raleigh, NC's rent against other top cities nearby by bedroom size. Typically, rent for studios in 27616, Raleigh, NC is 10.58% more affordable than other cities nearby. One bedrooms are about 2.00% more expensive. Two bedrooms in 27616, Raleigh, NC are about 7.94% more affordable. Finally, rent for three bedrooms are about 11.11% more affordable. Want more information? Check out the top 7 cities near 27616, Raleigh, NC in the following table.

City	Studio	1 Bed	2 Bed	All
Raleigh, NC	$1,849	$1,250	$1,595	$1,850
Chapel Hill, NC	N/A	$1,690	$1,725	$1,948
Wake Forest, NC	$2,300	$1,395	$1,700	$1,995
Durham, NC	$2,050	$1,375	$1,600	$1,995
Morrisville, NC	$2,100	$1,500	$1,750	$2,185
Apex, NC	$4,000	$1,386	$1,584	$2,200
Cary, NC	$2,400	$1,639	$1,800	$2,299

Top Neighborhoods Near 27616

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near 27616

There are a total of 4 counties located by 27616, Raleigh, NC. Some of these counties include Johnston, NC, Orange, NC, and Durham, NC. The average rent for rentals in these counties is $2,010. That's roughly around $15 per sqft. A total of one county has a lower average rent. The county that is the most affordable is Johnston, NC. Its average rent per month is $1,809. Vice versa, with an average rent of $2,050, Wake, NC is the most expensive county by 27616, Raleigh, NC.

Typically, rent for studios in 27616, Raleigh, NC is 5.21% more expensive than other counties nearby. In comparison, rent for one bedroom listings in 27616, Raleigh, NC is 5.34% more expensive than other counties nearby. Finally, rent for two bedrooms in 27616, Raleigh, NC is 3.57% more affordable than other counties nearby. We've listed all of these counties in the table below.

County	Studio	1 Bed	2 Bed	All
Johnston, NC	N/A	$1,195	$1,375	$1,809
Orange, NC	$1,600	$1,690	$1,773	$1,995
Durham, NC	$2,050	$1,375	$1,663	$2,025
Wake, NC	$2,000	$1,320	$1,600	$2,050

Top Zipcodes Near 27616

There are a total of 13 zipcodes in or near 27616, Raleigh, NC. The average rent for all of these zipcodes is $2,000. A total of 4 zipcodes have an average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 27604, Raleigh, NC at $1,625 per month. In comparison, the zipcode with the most expensive average rent of $2,299 per month is 27519, Cary, NC.

Studios in these zipcodes have an average rent of $2,000. That's at least $12 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near 27616, Raleigh, NC is $1,395 per month. Or in other words, $22 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,598 per month. Which comes out to $17 per sqft. The following table includes the top 10 zipcodes in 27616, Raleigh, NC. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
27610, Raleigh, NC	$1,850	$895	$1,345	$1,838
27604, Raleigh, NC	$1,195	$1,347	$1,495	$1,625
27587, Wake Forest, NC	$2,300	$1,395	$1,598	$1,995
27603, Garner, NC	$2,000	$1,536	$2,249	$2,000
27519, Cary, NC	$2,425	$1,626	$1,850	$2,299
27703, Durham County, NC	N/A	$1,395	$1,600	$2,196
27560, Morrisville, NC	$2,100	$1,448	$1,800	$2,195
27606, Wake County, NC	N/A	$1,023	$1,500	$1,625
27520, Johnston County, NC	N/A	$1,195	$1,463	$1,895
27502, Wake County, NC	$4,000	$1,457	$1,584	$2,248

Frequently Asked Questions - 27616 Average Rents

What is the average rent price in 27616, Raleigh, NC?

The average monthly rental price for 27616, Raleigh, NC apartments for rent is approximately $1,895. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do 27616, Raleigh, NC rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in 27616, Raleigh, NC.

How much is a studio apartment in 27616, Raleigh, NC?

The average monthly rental price for studio apartments is $1,899 and an average price per square feet of $11.98. There are a total of 1 studio apartment listings currently available for rent in 27616.

How much is a one bedroom apartment in 27616, Raleigh, NC?

The average monthly rental price for one bedroom apartments is $1,424 and an average price per square feet of $25.78. There are a total of 4 one bedroom apartment listings currently available for rent in 27616.

How much is a two bedroom apartment in 27616, Raleigh, NC?

The average monthly rental price for two bedroom apartments is $1,575 and an average price per square feet of $14.77. There are a total of 13 two bedroom apartment listings currently available for rent in 27616.

How have rent prices in 27616, Raleigh, NC changed this year?

Rent prices for rentals in 27616, Raleigh, NC can fluctuate yearly. Specifically, studio rental prices have changed by 0.10%, one bedroom rental prices have changed by -0.09%, two bedroom rental prices have changed by 0.00%, three bedroom rental prices have changed by 0.00% year-over-year.

What is a reasonable rent price in 27616, Raleigh, NC?

A reasonable rent price in 27616, Raleigh, NC is around $1,516/month. You can search for these reasonably priced rental listings on RentHop.