$2,495 Per Month
- 3 Beds
- 2 Baths
- 2,207 Sq Ft
- House for Rent
7505 Penny Rd, Raleigh, NC 27606
7505 Penny Rd, Raleigh, NC 27606
Frequently Asked Questions
How much does it cost to rent a single-family home in Raleigh, NC?
The median rent for a single-family home in Raleigh, NC is $1,900 per month, though prices vary by neighborhood, size, and property type. As of May 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Raleigh, NC?
To comfortably afford the median rent in Raleigh, NC, a household needs to earn roughly $76,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,900 per month in Raleigh, NC, renters typically need to show $5,700 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Raleigh, NC?
In Raleigh, NC, the price-to-rent ratio is 19.7, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Raleigh, NC are best for renting a single-family home?
The best neighborhood for renting in Raleigh, NC depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a single-family home include North Hills, Hi-Mount, Crabtree, University Park and Northeast Raleigh, each with its own character and price range.
