South Mills, NC—27976
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Mills, NC
As of Oct '25, the median home price in South Mills, NC is $411,000, with a year-over-year change of 4.9%. This indicates that home prices in South Mills, NC are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $411,000 | 4.9% |
| Single Family | $411,000 | 5.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $407,000 | 5.4% |
4 Bed | $460,000 | 4.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — South Mills, NC
As of July '25, Rentcast reports the average rent in South Mills, NC is $2,420, with a year-over-year rent change of 6.1%. Per bedroom, the median rent as of July '25 in South Mills, NC is 3-bedrooms: $2,330, 4-bedrooms: $2,720. The most common rental property sizes in South Mills, NC are 2-bedroom and 3-bedroom, accounting for 46.9% and 28.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,220 | $2,420 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $2,220 | $2,330 |
| 4 Bed Rent | $2,720 | $2,720 |
% of Rental Stock
Property Listings — South Mills, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in South Mills, NC is 55. This is a decrease of -14.0% 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 5.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $424,000 | -1.0% |
Listing Count | 43 | 90.0% |
| Listings as % of Homes | 0.9% | 90.0% |
Days on Market | 55 | -14.0% |
Demographics — South Mills, NC
As of the latest ACS Survey released in 2023, South Mills, NC has a population of 4,240, which has increased by 6.3% over the past 5 years. South Mills, NC is a moderately popular place for families, as children make up 22.4% of the population. The area has a moderately educated workforce, with 25.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,240 | 6.3% |
% Under 18 | 22.4% | -15.2% |
% Seniors | 15.1% | -5.6% |
% WFH | 6.2% | ∞% |
% w/ College Degree | 25.1% | 54.0% |
As of the latest ACS Survey released in 2023, South Mills, NC is a predominantly white area, with 79.3% of the population identifying as white. The white population has shrunk by 2.9% in the last 5 years. The second most common race or ethnicity in South Mills, NC is black, making up 7.9% of the population. Foreign-born residents account for 0.0% of the population in South Mills, NC, and this percentage has decreased by 100.0% 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 | 79.3% | -2.9% |
% Black | 7.9% | -28.8% |
% Hispanic | 6.3% | 31.2% |
% Asian | 0.1% | -95.0% |
% Foreign Born | 0.0% | -100.0% |
Mortgage and Risk — South Mills, NC
According to HUD data as of 2023, there were 140 mortgage originations in South Mills, NC, of which 58.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in South Mills, NC. Investor activity is low, as 0.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 140 |
% Conventional Loans | 58.0% |
% Government Loans | 42.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — South Mills, NC
South Mills, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 8 |
Total Units Section 8 | 8 |
% Rentals under Section 8 | 14.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $840 |
| 2 Bedroom | N/A | N/A | $980 |
| 3 Bedroom | -$840 | $2,220 | $1,380 |
| 4 Bedroom | -$1,060 | $2,720 | $1,660 |
Affordability — South Mills, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $411,000 |
| Median Household Income | $96,800 |