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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
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

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 TypeMedian Home ValueYoY % Change
All Homes
$238,0001.9%
Single Family $237,0002.2%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$156,0002.0%
    3 Bed
    		$247,0002.9%
    4 Bed
    		$330,0003.4%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    1.0%
    1 Bedroom
    6.1%
    2 Bedrooms
    21.9%
    3 Bedrooms
    55.8%
    4 Bedrooms
    12.8%
    5+ Bedrooms
    2.4%

    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.

    TypeMedian RentAverage Rent
    Average Rent$1,250$1,410
    Studio Rent N/AN/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.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$362,0006.0%
    Listing Count
    		10224.0%
    Listings as % of Homes0.5%24.0%
    Days on Market
    		10135.0%
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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.

    MetricLatest CensusYoY % 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

    MetricLatest Census5-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

    MetricZip 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 SizeHUD PremiumMarket RentMax 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

    Affordability — Washington, NC

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.9
    Median Home Price$238,000
    Median Household Income$52,700

    Washington, NC — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Chocowinity, NC

    27817

    Pinetown, NC

    27865

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    27837

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    27814

    Williamston, NC

    27892

    Frequently Asked Questions