New London, NC—28127
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New London, NC
As of Oct '25, the median home price in New London, NC is $299,000, with a year-over-year change of 0.9%. This indicates that home prices in New London, NC are flat. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $299,000 | 0.9% |
| Single Family | $300,000 | 0.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $136,000 | -3.5% |
2 Bed | $235,000 | 0.0% |
3 Bed | $353,000 | 2.0% |
4 Bed | $650,000 | 3.0% |
| 5 Bed | $1,080,000 | 3.0% |
% of Housing Stock
Rental Trends — New London, NC
As of July '25, Rentcast reports the average rent in New London, NC is $2,830, with a year-over-year rent change of 112.8%. Per bedroom, the median rent as of July '25 in New London, NC is 3-bedrooms: $1,600, 4-bedrooms: $3,450. The most common rental property sizes in New London, NC are 3-bedroom and 2-bedroom, accounting for 47.1% and 42.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,450 | $2,830 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,600 | $1,600 |
| 4 Bed Rent | $3,450 | $3,450 |
% of Rental Stock
Property Listings — New London, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in New London, NC is 94. This is a increase of 5.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $258,000 | -51.0% |
Listing Count | 98 | 112.0% |
| Listings as % of Homes | 1.1% | 112.0% |
Days on Market | 94 | 5.0% |
Demographics — New London, NC
As of the latest ACS Survey released in 2023, New London, NC has a population of 7,680, which has decreased by -2.2% over the past 5 years. New London, NC is a moderately popular place for families, as children make up 16.1% of the population. The area has a poorly educated workforce, with 17.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,680 | -2.2% |
% Under 18 | 16.1% | -8.0% |
% Seniors | 24.0% | 15.4% |
% WFH | 10.0% | 400.0% |
% w/ College Degree | 17.4% | -7.9% |
As of the latest ACS Survey released in 2023, New London, NC is a predominantly white area, with 80.5% of the population identifying as white. The white population has shrunk by 4.3% in the last 5 years. The second most common race or ethnicity in New London, NC is black, making up 9.8% of the population. Foreign-born residents account for 3.8% of the population in New London, NC, and this percentage has increased by 58.3% 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 | 80.5% | -4.3% |
% Black | 9.8% | -16.9% |
% Hispanic | 3.1% | 55.0% |
% Asian | 3.4% | 161.5% |
% Foreign Born | 3.8% | 58.3% |
Mortgage and Risk — New London, NC
According to HUD data as of 2023, there were 172 mortgage originations in New London, NC, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in New London, NC. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 172 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 1.0% |
% Second Loans | 16.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — New London, NC
New London, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 10 |
Total Units Section 8 | 10 |
% Rentals under Section 8 | 2.6% |
% 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 | $1,010 |
| 3 Bedroom | -$260 | $1,600 | $1,340 |
| 4 Bedroom | -$1,800 | $3,450 | $1,650 |
Affordability — New London, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $299,000 |
| Median Household Income | $78,400 |