Wilmington, NC—28409
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 $505,000, with a year-over-year change of 0.8%. This indicates that home prices in Wilmington, NC are flat. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $505,000 | 0.8% |
| Single Family | $507,000 | 0.8% |
| Condos | $239,000 | -4.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $300,000 | -3.8% |
3 Bed | $445,000 | 0.0% |
4 Bed | $624,000 | 1.8% |
| 5 Bed | $862,000 | 2.5% |
% of Housing Stock
Rental Trends — Wilmington, NC
As of July '25, Rentcast reports the average rent in Wilmington, NC is $2,480, with a year-over-year rent change of 2.9%. Per bedroom, the median rent as of July '25 in Wilmington, NC is 1-bedrooms: $1,410, 2-bedrooms: $1,640, 3-bedrooms: $2,640, 4-bedrooms: $3,160. The most common rental property sizes in Wilmington, NC are 3-bedroom and 2-bedroom, accounting for 45.3% and 34.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,480 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,300 | $1,410 |
| 2 Bed Rent | $1,500 | $1,640 |
| 3 Bed Rent | $2,400 | $2,640 |
| 4 Bed Rent | $3,000 | $3,160 |
% 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 52. This is a increase of 8.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $567,000 | -1.0% |
Listing Count | 178 | 6.0% |
| Listings as % of Homes | 0.9% | 6.0% |
Days on Market | 52 | 8.0% |
Demographics — Wilmington, NC
As of the latest ACS Survey released in 2023, Wilmington, NC has a population of 35,000, which has increased by 2.4% over the past 5 years. Wilmington, NC is a moderately popular place for families, as children make up 23.5% of the population. The area has a highly educated workforce, with 51.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,000 | 2.4% |
% Under 18 | 23.5% | 0.4% |
% Seniors | 18.5% | 2.2% |
% WFH | 19.2% | 111.0% |
% w/ College Degree | 51.3% | 6.4% |
As of the latest ACS Survey released in 2023, Wilmington, NC is a predominantly white area, with 85.8% of the population identifying as white. The white population has shrunk by 1.6% in the last 5 years. The second most common race or ethnicity in Wilmington, NC is hispanic, making up 5.7% of the population. Foreign-born residents account for 4.4% of the population in Wilmington, NC, and this percentage has decreased by 22.8% 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 | 85.8% | -1.6% |
% Black | 4.1% | 64.0% |
% Hispanic | 5.7% | -1.7% |
% Asian | 1.0% | -16.7% |
% Foreign Born | 4.4% | -22.8% |
Mortgage and Risk — Wilmington, NC
According to HUD data as of 2023, there were 994 mortgage originations in Wilmington, NC, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Wilmington, 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 | 994 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 1.0% |
% Second Loans | 3.0% |
% 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 1.7%. 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 | 35 |
Total Units Section 8 | 35 |
% Rentals under Section 8 | 1.7% |
% Occupied Section 8 | 60.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $360 | $1,300 | $1,660 |
| 2 Bedroom | $340 | $1,500 | $1,840 |
| 3 Bedroom | $30 | $2,400 | $2,430 |
| 4 Bedroom | -$110 | $3,000 | $2,890 |
Affordability — Wilmington, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $505,000 |
| Median Household Income | $108,000 |