Wilmington, NC—28412
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 $392,000, with a year-over-year change of -1.0%. This indicates that home prices in Wilmington, NC are decreasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $392,000 | -1.0% |
| Single Family | $415,000 | -0.7% |
| Condos | $242,000 | -4.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $182,000 | -5.7% |
2 Bed | $253,000 | -4.2% |
3 Bed | $384,000 | -1.0% |
4 Bed | $540,000 | 1.1% |
| 5 Bed | $641,000 | 1.9% |
% of Housing Stock
Rental Trends — Wilmington, NC
As of July '25, Rentcast reports the average rent in Wilmington, NC is $1,950, with a year-over-year rent change of -0.5%. Per bedroom, the median rent as of July '25 in Wilmington, NC is studios: $1,500, 1-bedrooms: $1,300, 2-bedrooms: $1,620, 3-bedrooms: $2,310, 4-bedrooms: $3,170. The most common rental property sizes in Wilmington, NC are 2-bedroom and 1-bedroom, accounting for 46.3% and 29.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,950 |
| Studio Rent | $1,110 | $1,500 |
| 1 Bed Rent | $1,300 | $1,300 |
| 2 Bed Rent | $1,590 | $1,620 |
| 3 Bed Rent | $2,200 | $2,310 |
| 4 Bed Rent | $3,200 | $3,170 |
% 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 58. This is a increase of 15.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $478,000 | 15.0% |
Listing Count | 304 | 10.0% |
| Listings as % of Homes | 1.1% | 10.0% |
Days on Market | 58 | 15.0% |
Demographics — Wilmington, NC
As of the latest ACS Survey released in 2023, Wilmington, NC has a population of 42,500, which has increased by 11.1% over the past 5 years. Wilmington, NC is a moderately popular place for families, as children make up 19.0% of the population. The area has a moderately educated workforce, with 41.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 42,500 | 11.1% |
% Under 18 | 19.0% | 2.2% |
% Seniors | 20.3% | 7.4% |
% WFH | 18.4% | 240.7% |
% w/ College Degree | 41.3% | 6.2% |
As of the latest ACS Survey released in 2023, Wilmington, NC is a predominantly white area, with 76.9% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Wilmington, NC is hispanic, making up 9.9% of the population. Foreign-born residents account for 6.3% 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 | 76.9% | -1.3% |
% Black | 6.8% | -37.6% |
% Hispanic | 9.9% | 39.4% |
% Asian | 0.8% | -55.6% |
% Foreign Born | 6.3% | 0.0% |
Mortgage and Risk — Wilmington, NC
According to HUD data as of 2023, there were 1141 mortgage originations in Wilmington, NC, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 21.0% above 90% LTV (very high). This implies large 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 | 1,141 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 1.0% |
% 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 3.0%. 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 Wilmington, NC, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 252 |
Total Units Section 8 | 246 |
% Rentals under Section 8 | 3.0% |
% Occupied Section 8 | 60.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $150 | $1,300 | $1,450 |
| 2 Bedroom | $10 | $1,590 | $1,600 |
| 3 Bedroom | -$90 | $2,200 | $2,110 |
| 4 Bedroom | -$680 | $3,200 | $2,520 |
Affordability — Wilmington, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.4 |
| Median Home Price | $392,000 |
| Median Household Income | $67,400 |