Advance, NC—27006
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Advance, NC
As of Oct '25, the median home price in Advance, NC is $399,000, with a year-over-year change of 1.4%. This indicates that home prices in Advance, NC are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $399,000 | 1.4% |
| Single Family | $411,000 | 1.7% |
| Condos | $196,000 | -1.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $217,000 | 0.0% |
3 Bed | $370,000 | 1.6% |
4 Bed | $543,000 | 1.5% |
| 5 Bed | $661,000 | 1.8% |
% of Housing Stock
Rental Trends — Advance, NC
As of July '25, Rentcast reports the average rent in Advance, NC is $2,120, with a year-over-year rent change of -10.2%. Per bedroom, the median rent as of July '25 in Advance, NC is 1-bedrooms: $1,360, 2-bedrooms: $1,450, 3-bedrooms: $2,180, 4-bedrooms: $2,540. The most common rental property sizes in Advance, NC are 2-bedroom and 3-bedroom, accounting for 35.4% and 33.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,270 | $2,120 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,360 | $1,360 |
| 2 Bed Rent | $1,450 | $1,450 |
| 3 Bed Rent | $2,300 | $2,180 |
| 4 Bed Rent | $2,400 | $2,540 |
% of Rental Stock
Property Listings — Advance, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Advance, NC is 37. This is a decrease of -10.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $452,000 | 8.0% |
Listing Count | 112 | 5.0% |
| Listings as % of Homes | 1.0% | 5.0% |
Days on Market | 37 | -10.0% |
Demographics — Advance, NC
As of the latest ACS Survey released in 2023, Advance, NC has a population of 16,300, which has increased by 11.7% over the past 5 years. Advance, NC is a moderately popular place for families, as children make up 19.6% of the population. The area has a moderately educated workforce, with 38.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,300 | 11.7% |
% Under 18 | 19.6% | -4.4% |
% Seniors | 25.5% | 17.0% |
% WFH | 11.4% | 235.3% |
% w/ College Degree | 38.4% | -0.5% |
As of the latest ACS Survey released in 2023, Advance, NC is a predominantly white area, with 88.4% of the population identifying as white. The white population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Advance, NC is black, making up 3.5% of the population. Foreign-born residents account for 4.9% of the population in Advance, NC, and this percentage has decreased by 9.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 88.4% | -3.7% |
% Black | 3.5% | 16.7% |
% Hispanic | 3.4% | 17.2% |
% Asian | 1.2% | -7.7% |
% Foreign Born | 4.9% | -9.3% |
Mortgage and Risk — Advance, NC
According to HUD data as of 2023, there were 515 mortgage originations in Advance, NC, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Advance, NC. Investor activity is low, as 0.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 515 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Advance, NC
As of 2024, the percent of homes in Advance, NC under the Section 8 program is 4.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Advance, NC, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 33 |
Total Units Section 8 | 33 |
% Rentals under Section 8 | 4.0% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$370 | $1,360 | $990 |
| 2 Bedroom | -$290 | $1,450 | $1,160 |
| 3 Bedroom | -$780 | $2,300 | $1,520 |
| 4 Bedroom | -$610 | $2,400 | $1,790 |
Affordability — Advance, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $399,000 |
| Median Household Income | $94,500 |