Wilmington, NC—28405
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 $368,000, with a year-over-year change of -1.3%. This indicates that home prices in Wilmington, NC are decreasing. 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 | $368,000 | -1.3% |
| Single Family | $377,000 | -1.3% |
| Condos | $230,000 | -3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $260,000 | -3.0% |
3 Bed | $354,000 | -1.7% |
4 Bed | $701,000 | 2.8% |
| 5 Bed | $1,427,000 | 6.3% |
% of Housing Stock
Rental Trends — Wilmington, NC
As of July '25, Rentcast reports the average rent in Wilmington, NC is $1,980, with a year-over-year rent change of -4.8%. Per bedroom, the median rent as of July '25 in Wilmington, NC is studios: $1,100, 1-bedrooms: $1,300, 2-bedrooms: $1,710, 3-bedrooms: $2,150, 4-bedrooms: $2,680. The most common rental property sizes in Wilmington, NC are 2-bedroom and 3-bedroom, accounting for 55.8% and 27.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $1,980 |
| Studio Rent | $975 | $1,100 |
| 1 Bed Rent | $1,240 | $1,300 |
| 2 Bed Rent | $1,600 | $1,710 |
| 3 Bed Rent | $2,050 | $2,150 |
| 4 Bed Rent | $2,800 | $2,680 |
% 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 59. This is a increase of 36.0% 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 37.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $471,000 | -6.0% |
Listing Count | 158 | 11.0% |
| Listings as % of Homes | 0.4% | 11.0% |
Days on Market | 59 | 36.0% |
Demographics — Wilmington, NC
As of the latest ACS Survey released in 2023, Wilmington, NC has a population of 35,200, which has increased by 8.8% over the past 5 years. Wilmington, NC is a moderately popular place for families, as children make up 20.9% of the population. The area has a moderately educated workforce, with 40.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,200 | 8.8% |
% Under 18 | 20.9% | 13.0% |
% Seniors | 20.3% | 10.3% |
% WFH | 20.3% | 128.1% |
% w/ College Degree | 40.8% | 6.2% |
As of the latest ACS Survey released in 2023, Wilmington, NC is a predominantly white area, with 68.7% of the population identifying as white. The white population has shrunk by 6.8% in the last 5 years. The second most common race or ethnicity in Wilmington, NC is black, making up 16.8% of the population. Foreign-born residents account for 8.2% of the population in Wilmington, NC, and this percentage has increased by 64.0% 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 | 68.7% | -6.8% |
% Black | 16.8% | -13.0% |
% Hispanic | 9.2% | 84.0% |
% Asian | 1.4% | -12.5% |
% Foreign Born | 8.2% | 64.0% |
Mortgage and Risk — Wilmington, NC
According to HUD data as of 2023, there were 594 mortgage originations in Wilmington, NC, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Wilmington, NC. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 594 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 2.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Wilmington, NC
As of 2024, the percent of homes in Wilmington, NC under the Section 8 program is 7.6%. 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 and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Wilmington, NC, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 786 |
Total Units Section 8 | 483 |
% Rentals under Section 8 | 7.6% |
% Occupied Section 8 | 64.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $240 | $1,240 | $1,480 |
| 2 Bedroom | $40 | $1,600 | $1,640 |
| 3 Bedroom | $120 | $2,050 | $2,170 |
| 4 Bedroom | -$220 | $2,800 | $2,580 |
Affordability — Wilmington, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $368,000 |
| Median Household Income | $67,800 |