Washington, NC 27889 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Washington, NC—27889

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$238,000

1.9% YoY Growth

Household Income

$52,700

29.3% YoY Growth

Days on Market

101

35.0% Longer YoY

Home Price Forecast

3.4%

Median Rent

$1,250

11.9% YoY Growth

1-Bed Rent

$860

13.9% YoY Growth

2-Bed Rent

$998

9.8% YoY Growth

3-Bed Rent

$1,600

0.0% YoY Growth

Home Price Trends — Washington, NC

As of Dec '25, the median home price in Washington, NC is $238,000, with a year-over-year change of 1.9%. This indicates that home prices in Washington, NC are increasing. According to Zillow, the 1-year price projection is 3.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$238,000	1.9%
Single Family	$237,000	2.2%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Washington, NC

As of July '25, Rentcast reports the average rent in Washington, NC is $1,410, with a year-over-year rent change of -11.9%. Per bedroom, the median rent as of July '25 in Washington, NC is 1-bedrooms: $981, 2-bedrooms: $1,200, 3-bedrooms: $1,690, 4-bedrooms: $1,400. The most common rental property sizes in Washington, NC are 3-bedroom and 2-bedroom, accounting for 45.8% and 30.2% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,250	$1,410
Studio Rent	N/A	N/A
1 Bed Rent	$860	$981
2 Bed Rent	$998	$1,200
3 Bed Rent	$1,600	$1,690
4 Bed Rent	$1,400	$1,400

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% of Rental Stock

Studio

2.8%

1 Bedroom

16.3%

2 Bedrooms

30.2%

3 Bedrooms

45.8%

4 Bedrooms

4.9%

Property Listings — Washington, NC

As of Dec '25, Realtor.com reports that the median days on market for a home in Washington, NC is 85. This is a increase of 36.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$362,000	6.0%
Listing Count	102	24.0%
Listings as % of Homes	0.5%	24.0%
Days on Market	101	35.0%

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Demographics — Washington, NC

As of the latest ACS Survey released in 2023, Washington, NC has a population of 24,600, which has decreased by -7.6% over the past 5 years. Washington, NC is a moderately popular place for families, as children make up 17.7% of the population. The area has a poorly educated workforce, with 21.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	24,600	-7.6%
% Under 18	17.7%	-16.1%
% Seniors	23.7%	17.3%
% WFH	9.2%	37.3%
% w/ College Degree	21.1%	5.5%

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As of the latest ACS Survey released in 2023, Washington, NC is a predominantly white area, with 58.3% of the population identifying as white. The white population has shrunk by 3.0% in the last 5 years. The second most common race or ethnicity in Washington, NC is black, making up 27.3% of the population. Foreign-born residents account for 4.9% of the population in Washington, NC, and this percentage has increased by 28.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	58.3%	-3.0%
% Black	27.3%	-3.5%
% Hispanic	10.4%	-5.5%
% Asian	0.3%	∞%
% Foreign Born	4.9%	28.9%

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Mortgage and Risk — Washington, NC

According to HUD data as of 2023, there were 476 mortgage originations in Washington, NC, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Washington, NC. Investor activity is low, as 1.0% 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	476
% Conventional Loans	81.0%
% Government Loans	19.0%
% Investor Loans	1.0%
% Second Loans	5.0%
% Cash Out Refinance	7.0%

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Rentals and Section 8 — Washington, NC

As of 2024, the percent of homes in Washington, NC under the Section 8 program is 8.3%. 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. 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Washington, NC, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom units do not.

Section 8 Market Size

Total Units under HUD	806
Total Units Section 8	356
% Rentals under Section 8	8.3%
% Occupied Section 8	69.2%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$20	$860	$840
2 Bedroom	$42	$998	$1,040
3 Bedroom	-$180	$1,600	$1,420
4 Bedroom	$370	$1,400	$1,770

Washington, NC—27889

Key Metrics at a Glance

Home Price Trends — Washington, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Washington, NC

% of Rental Stock

Property Listings — Washington, NC

Demographics — Washington, NC

Race and Ethnicity

Mortgage and Risk — Washington, NC

Mortgages

Rentals and Section 8 — Washington, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Washington, NC

Home Price to Income Ratio

Washington, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Chocowinity, NC

Pinetown, NC

Grimesland, NC

Blounts Creek, NC

Williamston, NC

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.9
Median Home Price	$238,000
Median Household Income	$52,700

Washington, NC—27889

Key Metrics at a Glance

Home Price Trends — Washington, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Washington, NC

% of Rental Stock

Property Listings — Washington, NC

Demographics — Washington, NC

Race and Ethnicity

Mortgage and Risk — Washington, NC

Mortgages

Rentals and Section 8 — Washington, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Washington, NC

Home Price to Income Ratio

Washington, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Chocowinity, NC

Pinetown, NC

Grimesland, NC

Blounts Creek, NC

Williamston, NC

Frequently Asked Questions

What is the average home price in Washington, NC 27889?

How have home prices in Washington, NC 27889 changed over the past year?

What is the home price projection for Washington, NC 27889?

What are the demographics of Washington, NC 27889?

How long does it take homes to sell in Washington, NC 27889?

What is the average rent price in Washington, NC 27889?