Red Springs, NC—28377
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Red Springs, NC
As of Oct '25, the median home price in Red Springs, NC is $93,000, with a year-over-year change of -10.8%. This indicates that home prices in Red Springs, NC are decreasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $93,000 | -10.8% |
| Single Family | $94,000 | -9.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $48,000 | -18.6% |
3 Bed | $108,000 | -6.1% |
4 Bed | $218,000 | 3.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Red Springs, NC
As of July '25, Rentcast reports the average rent in Red Springs, NC is $1,380, with a year-over-year rent change of 7.0%. Per bedroom, the median rent as of July '25 in Red Springs, NC is 2-bedrooms: $1,380. The most common rental property sizes in Red Springs, NC are 3-bedroom and 2-bedroom, accounting for 41.5% and 23.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,380 | $1,380 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,380 | $1,380 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Red Springs, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Red Springs, NC is 81. This is a increase of 21.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $280,000 | 4.0% |
Listing Count | 36 | 73.0% |
| Listings as % of Homes | 0.2% | 73.0% |
Days on Market | 81 | 21.0% |
Demographics — Red Springs, NC
As of the latest ACS Survey released in 2023, Red Springs, NC has a population of 11,200, which has decreased by -13.5% over the past 5 years. Red Springs, NC is a popular place for families, as children make up 25.5% of the population. The area has a poorly educated workforce, with 12.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,200 | -13.5% |
% Under 18 | 25.5% | -11.5% |
% Seniors | 16.0% | 25.0% |
% WFH | 3.2% | 113.3% |
% w/ College Degree | 12.8% | -14.1% |
As of the latest ACS Survey released in 2023, Red Springs, NC is a predominantly black area, with 24.6% of the population identifying as black. The black population has shrunk by 5.0% in the last 5 years. The second most common race or ethnicity in Red Springs, NC is white, making up 15.6% of the population. Foreign-born residents account for 6.2% of the population in Red Springs, NC, and this percentage has decreased by 23.5% 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 | 15.6% | 20.0% |
% Black | 24.6% | -5.0% |
% Hispanic | 12.5% | -27.7% |
% Asian | 0.9% | 200.0% |
% Foreign Born | 6.2% | -23.5% |
Mortgage and Risk — Red Springs, NC
According to HUD data as of 2023, there were 73 mortgage originations in Red Springs, NC, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Red Springs, NC. Investor activity is low, as 5.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 73 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Red Springs, NC
Red Springs, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 261 |
Total Units Section 8 | 61 |
% Rentals under Section 8 | 4.7% |
% Occupied Section 8 | 76.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $730 |
| 2 Bedroom | -$430 | $1,380 | $950 |
| 3 Bedroom | N/A | N/A | $1,340 |
| 4 Bedroom | N/A | N/A | $1,610 |
Affordability — Red Springs, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $93,000 |
| Median Household Income | $34,900 |