Spring Lake, NC—28390
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Spring Lake, NC
As of Oct '25, the median home price in Spring Lake, NC is $234,000, with a year-over-year change of -0.1%. This indicates that home prices in Spring Lake, NC are flat. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $234,000 | -0.1% |
| Single Family | $235,000 | 0.0% |
| Condos | $220,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $152,000 | 0.0% |
3 Bed | $196,000 | 0.0% |
4 Bed | $349,000 | 0.0% |
| 5 Bed | $395,000 | -0.3% |
% of Housing Stock
Rental Trends — Spring Lake, NC
As of July '25, Rentcast reports the average rent in Spring Lake, NC is $1,560, with a year-over-year rent change of 2.0%. Per bedroom, the median rent as of July '25 in Spring Lake, NC is 1-bedrooms: $984, 2-bedrooms: $1,140, 3-bedrooms: $1,750, 4-bedrooms: $2,160. The most common rental property sizes in Spring Lake, NC are 2-bedroom and 3-bedroom, accounting for 40.5% and 35.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,560 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $936 | $984 |
| 2 Bed Rent | $1,150 | $1,140 |
| 3 Bed Rent | $1,750 | $1,750 |
| 4 Bed Rent | $2,200 | $2,160 |
% of Rental Stock
Property Listings — Spring Lake, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Spring Lake, NC is 74. This is a increase of 51.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $340,000 | 7.0% |
Listing Count | 150 | 18.0% |
| Listings as % of Homes | 0.9% | 18.0% |
Days on Market | 74 | 51.0% |
Demographics — Spring Lake, NC
As of the latest ACS Survey released in 2023, Spring Lake, NC has a population of 24,200, which has increased by 1.5% over the past 5 years. Spring Lake, NC is a popular place for families, as children make up 28.2% of the population. The area has a moderately educated workforce, with 27.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,200 | 1.5% |
% Under 18 | 28.2% | 1.4% |
% Seniors | 9.1% | 18.2% |
% WFH | 6.0% | 100.0% |
% w/ College Degree | 27.7% | 23.1% |
As of the latest ACS Survey released in 2023, Spring Lake, NC is a predominantly white area, with 41.4% of the population identifying as white. The white population has shrunk by 8.0% in the last 5 years. The second most common race or ethnicity in Spring Lake, NC is black, making up 34.0% of the population. Foreign-born residents account for 6.6% of the population in Spring Lake, NC, and this percentage has increased by 17.9% 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 | 41.4% | -8.0% |
% Black | 34.0% | 10.0% |
% Hispanic | 13.8% | -7.4% |
% Asian | 1.7% | -34.6% |
% Foreign Born | 6.6% | 17.9% |
Mortgage and Risk — Spring Lake, NC
According to HUD data as of 2023, there were 565 mortgage originations in Spring Lake, NC, of which 31.0% of loans were conventional mortgages. The average loan-to-value was 82.0%, with 61.0% above 90% LTV (very high). This implies large mortgage risk in Spring Lake, NC. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 565 |
% Conventional Loans | 31.0% |
% Government Loans | 69.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Spring Lake, NC
As of 2024, the percent of homes in Spring Lake, NC under the Section 8 program is 5.3%. 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. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Spring Lake, NC, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 254 |
Total Units Section 8 | 254 |
% Rentals under Section 8 | 5.3% |
% Occupied Section 8 | 91.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $74 | $936 | $1,010 |
| 2 Bedroom | $20 | $1,150 | $1,170 |
| 3 Bedroom | -$150 | $1,750 | $1,600 |
| 4 Bedroom | -$220 | $2,200 | $1,980 |
Affordability — Spring Lake, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $234,000 |
| Median Household Income | $58,800 |