Introduction
Raleigh, NC, the vibrant capital city known for its thriving tech industry, top-tier universities, and Southern charm, is a growing hub for tourism and business travel. The city’s combination of cultural attractions, research institutions, and natural parks make it an appealing market for short-term rental investments. Here’s a detailed analysis of the top-performing zip codes in Raleigh, including gross yields, annual revenues, Zillow home values, and neighborhood insights.
27604: Northeast Raleigh & Hedingham
- Gross Yield: 7%
- Annual Revenue: $23,230
- Zillow Home Value: $353.0K
Zip code 27604 covers parts of Northeast Raleigh, including the Hedingham neighborhood, known for its golf course community and family-friendly vibe. The gross yield of 7% is the highest on this list, and annual revenue stands at $23,230, making it a solid investment choice. Zillow home values average $353.0K, providing a balance between affordability and growth potential. The area’s proximity to downtown Raleigh and green spaces like Marsh Creek Park attracts both families and business travelers, ensuring a steady stream of short-term rental guests.
27601: Downtown Raleigh & Historic Districts
- Gross Yield: 6%
- Annual Revenue: $33,666
- Zillow Home Value: $519.7K
This zip code encompasses the heart of Downtown Raleigh and its surrounding historic districts, where urban living meets cultural vibrancy. The gross yield is 6%, and annual revenue is the highest on this list at $33,666, reflecting the premium rental rates in the city center. Zillow home values are higher, averaging $519.7K, but the demand from tourists and professionals visiting for conferences and events supports strong rental performance. Attractions like the North Carolina Museum of Natural Sciences, local breweries, and a thriving arts scene make this area highly desirable for short-term stays.
27616: Northeast Raleigh Suburbs
- Gross Yield: 6%
- Annual Revenue: $23,477
- Zillow Home Value: $369.4K
Zip code 27616 includes Northeast Raleigh’s suburban neighborhoods, offering a more laid-back atmosphere with convenient access to shopping centers and major highways. The gross yield here is 6%, with annual revenue of $23,477. Zillow home values are relatively moderate at $369.4K, making it an attractive option for investors looking to balance investment cost with income potential. The area’s appeal lies in its family-friendly amenities, proximity to the I-540 beltline, and easy access to both Raleigh and Wake Forest.
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27610: Southeast Raleigh & Walnut Creek
- Gross Yield: 6%
- Annual Revenue: $20,573
- Zillow Home Value: $325.3K
This zip code covers Southeast Raleigh, including the Walnut Creek area, known for its growing residential communities and proximity to Walnut Creek Amphitheatre. The gross yield is 6%, with annual revenue of $20,573. Zillow home values average $325.3K, making it one of the more affordable options in the Raleigh market. The area’s mix of new developments and established neighborhoods attracts a diverse set of renters, from young professionals to families visiting for events and outdoor activities.
27603: South Raleigh & Lake Wheeler Vicinity
- Gross Yield: 6%
- Annual Revenue: $24,217
- Zillow Home Value: $412.1K
Zip code 27603 includes South Raleigh and areas near Lake Wheeler, a popular spot for outdoor enthusiasts. With a gross yield of 6% and annual revenue of $24,217, it offers consistent rental income potential. Zillow home values are $412.1K, reflecting the area’s growing popularity. The proximity to North Carolina State University and recreational areas like Lake Wheeler Park make this neighborhood appealing for both students and vacationers, providing a steady demand for short-term rentals.
Conclusion
These Raleigh zip codes offer a diverse range of investment opportunities, from the bustling downtown core to quieter suburban neighborhoods. By tapping into the city’s booming economy and appealing attractions, short-term rental investors can achieve solid returns while benefiting from property appreciation in this fast-growing market.
