Neighborhoods in Raleigh with the most expensive home sales

After home prices climbed by a record-setting 16.9% nationwide in 2021, the market was met with another stunning statistic in April 2022: 11 American metros now have a median home sold price of more than $500,000. The half-million dollar average sale price metric comes from an OJO Labs survey of March home sales. Nationwide, the median sales price of a home reached $392,750 as of mid-April 2022.

In historically wealthy cities and those with more modest home prices, the trajectory is the same: Prices keep going up even as mortgage rates spike. Causes for the price jumps are mirrored across the country. A long-term housing shortage that began after the Great Recession was exacerbated by supply chain disruptions that made it harder to source construction material, which affected virtually all housing markets. Another factor that has driven up prices is the rise of investors that have entered the market. In many regions including Charlotte, North Carolina, investment firms are buying up huge swaths of single-family homes.

In smaller cities and towns, traditionally lower population numbers were met with a swell of households moving away from big cities during the coronavirus pandemic, driving competition up for housing. Record-low mortgage rates were another reason for an exploding number of buyers, although rising rates don’t seem to be doing much to slow bidding wars in many metros.

Real estate platform ZeroDown analyzed its data on home listings to determine the most expensive neighborhood in Raleigh, based on homes sold between March 18, 2022 and April 18, 2022. Neighborhoods are ranked by the median home price per square foot.

Read on to see your city’s most expensive neighborhoods or see the national story which features neighborhoods in 20 metros here.

#10. Midtown Raleigh
- Median Home Price: $589,485 ($266 per square foot)
- Median Rent: $1,262
- Population: 17,987
- Walk Score: 70
- Bike Score: 49
- Transit Score: 33

#9. East Raleigh
- Median Home Price: $450,000 ($271 per square foot)
- Median Rent: $956
- Population: 14,402
- Walk Score: 11
- Bike Score: 30
- Transit Score: 41

#8. Mordecai
- Median Home Price: $573,208 ($293 per square foot)
- Median Rent: $1,007
- Population: 2,797
- Walk Score: 53
- Bike Score: 47
- Transit Score: 47

#7. Central Raleigh
- Median Home Price: $598,992 ($329 per square foot)
- Median Rent: $1,111
- Population: 9,929
- Walk Score: 19
- Bike Score: 38
- Transit Score: 43

#6. Wade
- Median Home Price: $834,847 ($333 per square foot)
- Median Rent: $1,140
- Population: 9,676
- Walk Score: 30
- Bike Score: 45
- Transit Score: 35

#5. South Central Raleigh
- Median Home Price: $548,534 ($347 per square foot)
- Median Rent: $830
- Population: 7,245
- Walk Score: 39
- Bike Score: 60
- Transit Score: 49

#4. Glenwood
- Median Home Price: $935,657 ($388 per square foot)
- Median Rent: $1,462
- Population: 7,893
- Walk Score: 30
- Bike Score: 35
- Transit Score: 37

#3. North Central Raleigh
- Median Home Price: $559,615 ($420 per square foot)
- Median Rent: $1,154
- Population: 6,411
- Walk Score: 63
- Bike Score: 71
- Transit Score: 64

#2. Hillsborough
- Median Home Price: $580,128 ($421 per square foot)
- Median Rent: $1,031
- Population: 13,780
- Walk Score: 88
- Bike Score: 66
- Transit Score: 52

#1. Five Points
- Median Home Price: $559,615 ($518 per square foot)
- Median Rent: $1,177
- Population: 8,222
- Walk Score: 41
- Bike Score: 60
- Transit Score: 42