Average Rent in 27616, Raleigh, NC

Current Versus Historical 27616, Raleigh, NC Rents

27616 rentals average $1,250 for a 1-bedroom rental to $2,399 for a 4-bedroom rental. The median price of all currently available listings is $1,895, or roughly $1 per square feet.

For the apartment units and housing in May 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $2,750 (108.91%) year-over-year from $2,525 to $5,275. 1-bedroom rentals prices have increased by $225 (15.81%) year-over-year from $1,421 to $1,646. 2-bedroom rentals prices have increased by $236 (16.16%) year-over-year from $1,459 to $1,695. 3-bedroom rentals prices have increased by $173 (9.52%) year-over-year from $1,822 to $1,995. 4-bedroom rentals prices have increased by $106 (4.62%) year-over-year from $2,289 to $2,395. 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 0.00% this month. 1-bedroom rents have gone up by 24.67% this month. 2-bedroom rents have gone up by 10.36% this month. 3-bedroom rents have gone up by 5.65% this month. 4-bedroom rents have gone down by 0.07% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
1 BR	$1.55	$1,646	$1,421 (15.81%)	$1,329 (23.85%)
2 BR	$1.32	$1,695	$1,459 (16.16%)	$1,492 (13.64%)
3 BR	$1.15	$1,995	$1,822 (9.52%)	$1,557 (28.12%)
4+ BR	$1.05	$2,395	$2,289 (4.62%)	$1,832 (30.76%)

Historical Rents in 27616, Raleigh, NC

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near 27616

There are a total of 3 cities nearby 27616. The average rent in 27616 is currently $2,000 per month. Our records show that Raleigh, NC, with an average rent of $1,900, 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 $2,295 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 inf% more affordable than other cities nearby. One bedrooms are about 3.80% more affordable. Two bedrooms in 27616, Raleigh, NC are about 4.78% more affordable. Finally, rent for three bedrooms are about 10.67% more affordable. Want more information? Check out the top 3 cities near 27616, Raleigh, NC in the following chart.

City	Studio	1 Bed	2 Bed	All
Raleigh, NC	$1,350	$1,298	$1,700	$1,900
Durham, NC	$1,298	$1,752	$1,799	$2,000
Cary, NC	$1,900	N/A	$1,700	$2,295

Top Neighborhoods Near 27616

View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near 27616

Some of these counties include Johnston, NC, Orange, NC, and Wake, NC. The average rent for rentals in these counties is $1,993. That's roughly around $1 per sqft. A total of 2 counties have a lower average rent. The county that is the most affordable is Johnston, NC. It's average rent per month is $1,725. Vice versa, with an average rent of $2,100, Durham, NC is the most expensive county by 27616, Raleigh, NC.

Typically, rent for studios in 27616, Raleigh, NC is inf% more affordable than other counties nearby. In comparison, rent for one bedroom listings in 27616, Raleigh, NC is 7.40% more affordable than other counties nearby. Finally, rent for two bedrooms in 27616, Raleigh, NC is 2.85% more affordable than other counties nearby. We've listed all of these counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Johnston, NC	N/A	$1,220	$1,468	$1,725
Orange, NC	N/A	$1,385	$1,638	$1,885
Wake, NC	$1,800	$1,300	$1,700	$2,100
Durham, NC	$1,300	$1,686	$1,800	$2,100

Top Zipcodes Near 27616

There are a total of 7 zipcodes in or near 27616, Raleigh, NC. The average rent for all of these zipcodes is $2,000. A total of 2 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 27520, Johnston County, NC at $1,795 per month. In comparison, the zipcode with the most expensive average rent of $2,425 per month is 27519, Cary, NC.

Meanwhile, two bedroom apartments will cost you an average of $1,698 per month. Which comes out to $1 per sqft. The following chart includes the top 7 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
27560, Morrisville, NC	N/A	N/A	$1,795	$2,195
27519, Cary, NC	N/A	N/A	$1,845	$2,425
27610, Raleigh, NC	N/A	N/A	$1,447	$1,845
27703, Durham County, NC	N/A	N/A	$1,623	$2,198
27603, Garner, NC	$850	$600	$1,698	$2,000
27520, Johnston County, NC	N/A	$1,125	$1,395	$1,795
27701, Durham, NC	$1,298	$1,800	$2,495	$1,904

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 $0 and an average price per square feet of $0.00. There are a total of 0 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 $1,250 and an average price per square feet of $1.55. There are a total of 3 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 $1,623 and an average price per square feet of $1.32. There are a total of 8 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 1.09%, one bedroom rental prices have changed by 0.16%, two bedroom rental prices have changed by 0.16%, and three bedroom rental prices have changed by 0.10% 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.