Wake County Home Prices & Values

$211,600 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 5.5% 1-year change
  • 3.3% 1-year forecast

The median home value in Wake County is $211,600. Wake County home values have gone up 5.5% over the past year and Zillow predicts they will rise 3.3% within the next year. The median list price per square foot in Wake County is $118, which is higher than the Raleigh Metro average of $111. The median price of homes currently listed in Wake County is $264,900 while the median price of homes that sold is $232,400. The median rent price in Wake County is $1,200, which is the same as the Raleigh Metro median of $1,200.

Foreclosures will be a factor impacting home values in the next several years. In Wake County 3.5 homes are foreclosed (per 10,000). This is lower than the Raleigh Metro value of 3.9 and also lower than the national value of 4.4

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Wake County is 4.5%, which is lower than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Wake County homeowners underwater on their mortgage is 13.3%, which is lower than Raleigh Metro at 14.3%.

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Relative ZHVI
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Wake County Market Overview

Data through Jul 31, 2014
  • $211,600 ZHVI
  • 3.3% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jul 31, 2015)
  • $264,900 Median listing price
  • $232,400 Median sale price
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Wake County Market Health

Data through Jul 31, 2014
  • 5.9/10 Healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • 86 Average of days on Zillow (Jun 30, 2014)
  • 13.3% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 4.5% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)

Homes foreclosed (per 10,000)

3.5 homes Wake County
3.9 homes Raleigh Metro
4.4 homes United States
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Cities in Wake County

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Cary $284,800 Apex $261,200 Wake Forest $245,300
Morrisville $239,200 Rolesville $215,000 Raleigh $187,800
Willow Spring $162,200 Garner $149,800 Knightdale $142,300

Listings & Sales

Data through Jul 31, 2014
  • $118 Median list price / sq ft
  • $118 Median sale price / sq ft
  • 34.9% Listings with price cut
23.9%
Sold below listing
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Wake County Rentals

Data through Jul 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,366 Wake County
$1,307 Raleigh Metro
$1,318 United States
  • 3.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $1,200 Rent list price
  • $0.82 Rent list price / sq ft
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