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An appreciation-lean market without the demand pressure to back it. The rent math runs thin.
What would change this read: a price correction (median already +14.3% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, −17.6% YoY, is the number to watch.
The median listing price is up 14.3% YoY while the median home got up 17.6% bigger, so value per square foot is down 0.1%.
Min/max come from the active-listing pool; the median comes from Realtor's separate listing set — the two are not subsets of each other, so the median's position relative to the tiles above should not be read literally.
At the median, a $583K purchase rents for $1,553/mo: 0.27% of price per month against the 1% rule's 1.00%.
Not shown: 1 BR (rent only, no matching sale price), 5 BR (sale only, no matching rent), 6 BR (sale only, no matching rent).
Sales here take about 7 days longer to go under contract than rentals (median across 4 property types).
Not shown: Apartment (rented here, not sold), Land (sold here, not rented).
U.S. Census ACS characteristics for ZIP 27511 itself, not its parent county.
Renters hold 33.1% of this ZIP's 13,557 occupied households, on a median household income of $108K.
| Measure | ZIP 27511 | Wake County | Difference |
|---|---|---|---|
| Median Household Income | $108K | $106K | +$2K |
| Below Poverty Level | 9.4% | 8.1% | +1.3% |
| Median Age | 42.10 | 37.30 | +4.80 |
| Total Population | 33,221 | 1,178,653 | -- |
| Avg Household Size | 2.43 | 2.51 | -0.08 |
| Owner-Occupied | 66.9% | 64.1% | +2.8% |
| Worked From Home | 29.0% | 29.1% | -0.1% |
| Mean Commute | 23.30 | 25.10 | -1.80 |
Higher or lower is not itself good or bad — it describes the neighborhood, not the investment.
ZIP-level figures come from ZIP Code Tabulation Areas, which approximate but do not exactly match USPS ZIP codes. A missing value is suppressed or unavailable at this sample size, not zero. Estimates for 2019–2020 use the 2010 ZCTA boundaries and 2021–2024 the 2020 ones, so a step between those two years may be a boundary change rather than real movement.
County population is up 2.4% to 1,178,653: residents under 18 are up 0.7% and those 65 and over are up 5.5%.
County median household income is $106K, 8.1% of residents are below the poverty level, 29.1% work from home.