Wilmington, NC—28403
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wilmington, NC
As of Oct '25, the median home price in Wilmington, NC is $383,000, with a year-over-year change of -0.3%. This indicates that home prices in Wilmington, NC are flat. 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 | $383,000 | -0.3% |
| Single Family | $418,000 | 0.5% |
| Condos | $206,000 | -4.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $155,000 | -1.3% |
2 Bed | $261,000 | -1.5% |
3 Bed | $392,000 | 0.0% |
4 Bed | $706,000 | 5.5% |
| 5 Bed | $995,000 | 7.7% |
% of Housing Stock
Rental Trends — Wilmington, NC
As of July '25, Rentcast reports the average rent in Wilmington, NC is $1,870, with a year-over-year rent change of 1.6%. Per bedroom, the median rent as of July '25 in Wilmington, NC is studios: $1,570, 1-bedrooms: $1,190, 2-bedrooms: $1,570, 3-bedrooms: $2,090, 4-bedrooms: $2,930. The most common rental property sizes in Wilmington, NC are 2-bedroom and 3-bedroom, accounting for 46.1% and 23.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,720 | $1,870 |
| Studio Rent | $1,370 | $1,570 |
| 1 Bed Rent | $1,200 | $1,190 |
| 2 Bed Rent | $1,500 | $1,570 |
| 3 Bed Rent | $2,000 | $2,090 |
| 4 Bed Rent | $3,000 | $2,930 |
% of Rental Stock
Property Listings — Wilmington, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Wilmington, NC is 61. This is a decrease of -2.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $412,000 | 6.0% |
Listing Count | 144 | -14.0% |
| Listings as % of Homes | 0.3% | -14.0% |
Days on Market | 61 | -2.0% |
Demographics — Wilmington, NC
As of the latest ACS Survey released in 2023, Wilmington, NC has a population of 40,300, which has decreased by -1.5% over the past 5 years. Wilmington, NC is a less popular place for families, as children make up 12.0% of the population. The area has a highly educated workforce, with 47.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,300 | -1.5% |
% Under 18 | 12.0% | -4.0% |
% Seniors | 12.4% | 6.0% |
% WFH | 13.9% | 178.0% |
% w/ College Degree | 47.6% | 20.5% |
As of the latest ACS Survey released in 2023, Wilmington, NC is a predominantly white area, with 73.8% of the population identifying as white. The white population has shrunk by 5.9% in the last 5 years. The second most common race or ethnicity in Wilmington, NC is black, making up 12.3% of the population. Foreign-born residents account for 4.9% of the population in Wilmington, NC, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 73.8% | -5.9% |
% Black | 12.3% | -10.2% |
% Hispanic | 7.6% | 68.9% |
% Asian | 1.9% | 11.8% |
% Foreign Born | 4.9% | 0.0% |
Mortgage and Risk — Wilmington, NC
According to HUD data as of 2023, there were 480 mortgage originations in Wilmington, NC, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Wilmington, NC. Investor activity is low, as 7.0% 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 | 480 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 7.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Wilmington, NC
As of 2024, the percent of homes in Wilmington, NC under the Section 8 program is 5.6%. 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 units appear to be good home sizes to consider for Section 8 housing in Wilmington, NC, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 790 |
Total Units Section 8 | 701 |
% Rentals under Section 8 | 5.6% |
% Occupied Section 8 | 80.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $150 | $1,200 | $1,350 |
| 2 Bedroom | $0 | $1,500 | $1,500 |
| 3 Bedroom | -$20 | $2,000 | $1,980 |
| 4 Bedroom | -$640 | $3,000 | $2,360 |
Affordability — Wilmington, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.9 |
| Median Home Price | $383,000 |
| Median Household Income | $51,000 |