The settling velocity of inertial particles falling in homogeneous turbulence is investigated by making use of Direct Numerical Simulation (DNS) at moderate Reynolds number that include momentum exchange between both phases (two-way coupling approach). Effects of particle volume fraction, particle inertia and gravity are presented for flow and particle parameters similar to the experiments of Aliseda et al. [1]. A good agreement is obtained between the DNS and the experiments for the settling velocity statistics, when overall averaged but as well when conditioned on the local particle concentration. Both DNS and experiments show that the settling velocity further increases with increasing volume fraction and local concentration. At the considered particle loading the effects of two-way coupling is negligible on the mean statistics of turbulence. Nevertheless , the DNS results show that fluid quantities are locally altered by the particles. In particular, the conditional average on the local particle concentration of the slip-velocity shows that the main contribution to the settling enhancement results from the increase of the fluid velocity surrounding the particles along the gravitational direction induced by the collective particle back-reaction force. Particles and the surrounding fluid are observed to fall together, which in turn results in an amplification of the sampling of particles in the downward fluid motion. Effects of two-way coupling on preferential concentration are also reported. Increase of both volume fraction and gravity is shown to lower preferential concentration of small inertia particles while a reverse tendency is observed for large inertia particles. This behavior is found to be related to an attenuation of the centrifuge effects and to an increase of particle accumulation along gravity direction, as particle loading and gravity become large.