New Bern, NC—28560
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Bern, NC
As of Oct '25, the median home price in New Bern, NC is $263,000, with a year-over-year change of 1.7%. This indicates that home prices in New Bern, NC are increasing. According to Zillow, the 1-year price projection is 2.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $263,000 | 1.7% |
| Single Family | $264,000 | 1.9% |
| Condos | $254,000 | 2.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $226,000 | 6.1% |
2 Bed | $163,000 | 0.0% |
3 Bed | $271,000 | 2.3% |
4 Bed | $352,000 | 0.9% |
| 5 Bed | $429,000 | 2.1% |
% of Housing Stock
Rental Trends — New Bern, NC
As of July '25, Rentcast reports the average rent in New Bern, NC is $1,690, with a year-over-year rent change of -0.6%. Per bedroom, the median rent as of July '25 in New Bern, NC is 1-bedrooms: $1,120, 2-bedrooms: $1,250, 3-bedrooms: $1,840, 4-bedrooms: $2,260. The most common rental property sizes in New Bern, NC are 2-bedroom and 3-bedroom, accounting for 44.1% and 36.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,690 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $975 | $1,120 |
| 2 Bed Rent | $1,200 | $1,250 |
| 3 Bed Rent | $1,800 | $1,840 |
| 4 Bed Rent | $2,300 | $2,260 |
% of Rental Stock
Property Listings — New Bern, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in New Bern, NC is 73. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $360,000 | 6.0% |
Listing Count | 250 | 3.0% |
| Listings as % of Homes | 1.0% | 3.0% |
Days on Market | 73 | 1.0% |
Demographics — New Bern, NC
As of the latest ACS Survey released in 2023, New Bern, NC has a population of 28,000, which has increased by 1.4% over the past 5 years. New Bern, NC is a moderately popular place for families, as children make up 23.2% of the population. The area has a moderately educated workforce, with 25.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,000 | 1.4% |
% Under 18 | 23.2% | 3.6% |
% Seniors | 21.6% | 3.3% |
% WFH | 8.3% | 176.7% |
% w/ College Degree | 25.4% | 14.4% |
As of the latest ACS Survey released in 2023, New Bern, NC is a predominantly white area, with 65.2% of the population identifying as white. The white population has shrunk by 8.6% in the last 5 years. The second most common race or ethnicity in New Bern, NC is black, making up 19.8% of the population. Foreign-born residents account for 5.9% of the population in New Bern, NC, and this percentage has increased by 5.4% 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 | 65.2% | -8.6% |
% Black | 19.8% | 11.2% |
% Hispanic | 5.9% | 18.0% |
% Asian | 4.4% | 18.9% |
% Foreign Born | 5.9% | 5.4% |
Mortgage and Risk — New Bern, NC
According to HUD data as of 2023, there were 815 mortgage originations in New Bern, NC, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in New Bern, NC. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 815 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 1.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — New Bern, NC
As of 2024, the percent of homes in New Bern, NC under the Section 8 program is 23.5%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in New Bern, NC, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 833 |
Total Units Section 8 | 782 |
% Rentals under Section 8 | 23.5% |
% Occupied Section 8 | 93.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$5 | $975 | $970 |
| 2 Bedroom | $70 | $1,200 | $1,270 |
| 3 Bedroom | -$100 | $1,800 | $1,700 |
| 4 Bedroom | -$200 | $2,300 | $2,100 |
Affordability — New Bern, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $263,000 |
| Median Household Income | $62,100 |