Market Analysis
Raleigh Rental Market
Rental investment market data and analysis · Updated September 2026
Median Home Price
$468,400
Average Monthly Rent
$1,594
Estimated Cap Rate
4.1%
Rent-to-Price Ratio
0.3%
Below 1% Rule
Market Trends
Raleigh metro area — % change since 2018
Home Prices
+85.2%
Rent Index
+36.2%
Average Rent by Bedroom
| Bedrooms | Avg Rent |
|---|---|
| Apartment | $1,483/mo |
| Condo | $1,761/mo |
| Townhouse | $1,911/mo |
| Multi-Family | $1,982/mo |
| Single Family | $2,099/mo |
Sample Investment Analysis
Based on median price + average rent, 20% down, 6.8% rate, 30yr
Purchase Price$468,400
Down Payment (20%)$93,680
Monthly P&I$2,443
Monthly Rent$1,594
Est. NOI$11,477/yr
Est. Cash Flow-$1,486/mo
Cash on Cash-17.3%
The Raleigh market is cash-flow negative at median prices. Look for properties 15-20% below median or with value-add potential.
What Investors Should Know About Raleigh
- 1Compressed cap rates below 5% — focus on appreciation or value-add deals
- 21% Rule fails at median prices — need rent of $4,684/mo to pass
- 3Below-average rents keep entry costs low for new investors
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