27606, Raleigh, NC

Raleigh, NC is a metropolitan area with a population of over 1.5 million people. The 27606 zip code is home to over 100,000 residents and has a median home value of $269,000. Home equity in the 27606 zip code has increased by over 50% since 2007, when the median home value was $179,000. In addition, Raleigh's average annual growth rate for home values was 5.1% from 2007-2016.

The majority of homes in the 27606 zip code are owner-occupied and have been for many years. This indicates that there is strong demand for housing in this area and that people are able to afford to buy and live in homes here. Additionally, the high level of home equity in this zip code indicates that people are confident in their ability to maintain their homes and can afford to make repairs or upgrades when they need to. This stability is important for neighborhoods as it helps keep crime rates low and allows families to stay close to their children while they are growing up.

Home prices have increased significantly over the past few years due both to increasing demand and limited supply of housing units available on the market. As more people move into Raleigh looking for jobs or want to live here because of its many amenities, there is an increasing demand for housing units which drives up prices. In addition, many new development projects have been approved recently which will add even more new homes onto the market soon - this will also drive up prices as well as increase competition among buyers for available units. However, despite these increases, Raleigh's overall population growth has not kept pace with inflation so there has been some slowdown in price appreciation recently - although it remains much higher than what it was a few years ago.