27616, Raleigh, NC

Home Equity and Home Prices in the 27616 Zip Code of Raleigh, NC

The 27616 zip code of Raleigh, NC has a median home value of $183,000. This is significantly higher than the national median home value of $146,500. The majority of homes in this zip code are owned by individuals or families. There are also a few businesses located here, but the majority of residents are homeowners.

There is a significant disparity between home values in this zip code and across the country as a whole. The median home value in Raleigh is more than three times greater than the national median home value. This indicates that there are a lot of homes in this zip code that are worth a lot more than average. It's also worth noting that there is a large concentration of high-value homes in this area - almost 60% of all homes here have values above $200,000. This suggests that homeownership rates and house prices in this area are relatively high compared to other parts of the country.

One reason for these high values may be the strong economy currently being experienced by North Carolina. Jobs have been plentiful throughout the state, which has led to an increase in demand for housing and property assets. Additionally, many people who live in Raleigh own their homes outright - rather than using them as part of an investment portfolio - which may also contribute to high house prices here.