Where home prices are falling in the Raleigh area
Home values, 1-year change, September 2026 · Zillow ZHVI (Sep 2026) · updated 2026-11-15
Home values fell over the past year in 28 of the 44 ZIP codes in the Raleigh area with figures; the median change was −0.7%.
The largest fall was 4.4% in ZIP code 27560 (Morrisville, NC), and the tenth-largest was 2.0% in ZIP code 27603 (Southwest, Raleigh, NC).
Home values fell 1.7% across the Raleigh area and rose 1.2% nationally over the same 12 months.
Where home prices are falling in the Raleigh area: the 28
| Rank | ZIP code | Home values, 1-year change | Typical home value | Rents, 1-year change |
|---|---|---|---|---|
| 1 | 27560Morrisville, NC | −4.4% | $492,000 | +2.5% |
| 2 | 27605Hillsborough, Raleigh, NC | −3.6% | $391,000 | −3.0% |
| 3 | 27616Northeast, Raleigh, NC | −3.3% | $348,000 | +0.3% |
| 4 | 27617Northwest, Raleigh, NC | −3.2% | $430,000 | +1.0% |
| 5 | 27604Northeast, Raleigh, NC | −2.6% | $336,000 | +2.7% |
| 6 | 27610Southeast, Raleigh, NC | −2.6% | $309,000 | +0.8% |
| 7 | 27601Central, Raleigh, NC | −2.5% | $494,000 | +0.8% |
| 8 | 27519Cary, NC | −2.0% | $690,000 | +3.5% |
| 9 | 27545Knightdale, NC | −2.0% | $361,000 | +2.6% |
| 10 | 27603Southwest, Raleigh, NC | −2.0% | $406,000 | +2.7% |
| 11 | 27529South, Garner, NC | −1.8% | $380,000 | +0.8% |
| 12 | 27502Apex, NC | −1.7% | $560,000 | +0.2% |
| 13 | 27520Clayton, NC | −1.7% | $333,000 | +3.3% |
| 14 | 27571Rolesville, NC | −1.5% | $496,000 | – |
| 15 | 27591Wendell, NC | −1.3% | $366,000 | −2.2% |
| 16 | 27606West, Raleigh, NC | −1.3% | $431,000 | +0.9% |
| 17 | 27562New Hill, NC | −1.2% | $678,000 | – |
| 18 | 27511Cary, NC | −1.0% | $492,000 | +2.4% |
| 19 | 27527Clayton, NC | −1.0% | $394,000 | +1.4% |
| 20 | 27587Wake Forest, NC | −0.8% | $505,000 | +3.3% |
| 21 | 27525Franklinton, NC | −0.7% | $349,000 | – |
| 22 | 27540Holly Springs, NC | −0.7% | $575,000 | +2.5% |
| 23 | 27596Youngsville, NC | −0.7% | $415,000 | +1.2% |
| 24 | 27513Cary, NC | −0.6% | $552,000 | +0.2% |
| 25 | 27577Smithfield, NC | −0.6% | $288,000 | +4.0% |
| 26 | 27539Apex, NC | −0.5% | $594,000 | +4.4% |
| 27 | 27597Zebulon, NC | −0.4% | $338,000 | +3.0% |
| 28 | 27592Willow Spring, NC | −0.2% | $410,000 | – |
- Under −2.0%
- −2.0% to −1.0%
- −1.0% to −0.5%
- −0.5% to +1.0%
- +1.0% or more
- Not ranked
More rankings for the Raleigh area
- Cheapest ZIP codes
- Most expensive ZIP codes
- Where home prices are rising fastest
- Cheapest rent by ZIP code
- Highest rent by ZIP code
- Where rents are rising fastest
- Richest ZIP codes (household income)
- Cheapest suburbs
- Most expensive suburbs
- Richest suburbs (household income)
- Largest suburbs (population)
- Raleigh metro area: all figures
Where home prices are falling in other metro areas
- New York, NY
- Los Angeles, CA
- Chicago, IL
- Dallas, TX
- Houston, TX
- Atlanta, GA
- Washington, DC
- Miami, FL
- Philadelphia, PA
- Phoenix, AZ
- Boston, MA
- Riverside, CA
- San Francisco, CA
- Detroit, MI
- Seattle, WA
- Minneapolis, MN
- Tampa, FL
- San Diego, CA
- Denver, CO
- Orlando, FL
- Charlotte, NC
- Baltimore, MD
- St. Louis, MO
- San Antonio, TX
- Austin, TX
- Portland, OR
- Sacramento, CA
- Pittsburgh, PA
- Las Vegas, NV
- Cincinnati, OH
- Kansas City, MO
- Columbus, OH
- Indianapolis, IN
- Nashville, TN
- Cleveland, OH
- San Jose, CA
- Virginia Beach, VA
- Jacksonville, FL
- Oklahoma City, OK
- Louisville, KY
- Memphis, TN
- Salt Lake City, UT
- Fresno, CA
- Birmingham, AL
Source and method
Home values, 1-year change: Zillow ZHVI (Sep 2026); figures for September 2026. ZIP codes with at least 1,000 residents and a published figure are ranked (44 of them in the Raleigh area). This page lists only the 28 where the figure fell. The metro area is the Raleigh-Cary, NC metropolitan statistical area. Place names for ZIP codes are the neighborhood or city the ZIP code mostly covers. Compiled by Home Economics.
Zillow's "typical" home value and rent are index values for the middle of the market (the Zillow Home Value Index and Observed Rent Index), not median sale prices or asking rents. One-year changes are over the 12 months to September 2026. Income and population come from the Census Bureau's American Community Survey and carry sampling error, most of all in small places.