South Mills, NC 27976 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

South Mills, NC—27976

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$407,000

5.1% YoY Growth

Household Income

$96,800

35.4% YoY Growth

Days on Market

28.0% Shorter YoY

Home Price Forecast

1.8%

Median Rent

$2,220

6.1% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

$2,220

50.3% YoY Growth

Home Price Trends — South Mills, NC

As of Nov '25, the median home price in South Mills, NC is $407,000, with a year-over-year change of 5.1%. This indicates that home prices in South Mills, NC are increasing. 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	$407,000	5.1%
Single Family	$407,000	5.2%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — South Mills, NC

As of July '25, Rentcast reports the average rent in South Mills, NC is $2,420, with a year-over-year rent change of 6.1%. Per bedroom, the median rent as of July '25 in South Mills, NC is 3-bedrooms: $2,330, 4-bedrooms: $2,720. The most common rental property sizes in South Mills, NC are 2-bedroom and 3-bedroom, accounting for 46.9% and 28.6% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,220	$2,420
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	N/A	N/A
3 Bed Rent	$2,220	$2,330
4 Bed Rent	$2,720	$2,720

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% of Rental Stock

2 Bedrooms

46.9%

3 Bedrooms

28.6%

4 Bedrooms

24.5%

Property Listings — South Mills, NC

As of Nov '25, Realtor.com reports that the median days on market for a home in South Mills, NC is 59. This is a decrease of -28.0% 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 16.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$446,000	-3.0%
Listing Count	49	97.0%
Listings as % of Homes	0.9%	97.0%
Days on Market	59	-28.0%

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Demographics — South Mills, NC

As of the latest ACS Survey released in 2023, South Mills, NC has a population of 4,240, which has increased by 6.3% over the past 5 years. South Mills, NC is a moderately popular place for families, as children make up 22.4% of the population. The area has a moderately educated workforce, with 25.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	4,240	6.3%
% Under 18	22.4%	-15.2%
% Seniors	15.1%	-5.6%
% WFH	6.2%	∞%
% w/ College Degree	25.1%	54.0%

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As of the latest ACS Survey released in 2023, South Mills, NC is a predominantly white area, with 79.3% of the population identifying as white. The white population has shrunk by 2.9% in the last 5 years. The second most common race or ethnicity in South Mills, NC is black, making up 7.9% of the population. Foreign-born residents account for 0.0% of the population in South Mills, NC, and this percentage has decreased by 100.0% 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	79.3%	-2.9%
% Black	7.9%	-28.8%
% Hispanic	6.3%	31.2%
% Asian	0.1%	-95.0%
% Foreign Born	0.0%	-100.0%

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Mortgage and Risk — South Mills, NC

According to HUD data as of 2023, there were 140 mortgage originations in South Mills, NC, of which 58.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in South Mills, NC. Investor activity is low, as 0.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	140
% Conventional Loans	58.0%
% Government Loans	42.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	17.0%

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Rentals and Section 8 — South Mills, NC

South Mills, NC lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	8
Total Units Section 8	8
% Rentals under Section 8	14.3%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$840
2 Bedroom	N/A	N/A	$980
3 Bedroom	-$840	$2,220	$1,380
4 Bedroom	-$1,060	$2,720	$1,660

South Mills, NC—27976

Key Metrics at a Glance

Home Price Trends — South Mills, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — South Mills, NC

% of Rental Stock

Property Listings — South Mills, NC

Demographics — South Mills, NC

Race and Ethnicity

Mortgage and Risk — South Mills, NC

Mortgages

Rentals and Section 8 — South Mills, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — South Mills, NC

Home Price to Income Ratio

South Mills, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Chesapeake, VA

Moyock, NC

Elizabeth City, NC

Hobbsville, NC

Chesapeake, VA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.5
Median Home Price	$407,000
Median Household Income	$96,800

South Mills, NC—27976

Key Metrics at a Glance

Home Price Trends — South Mills, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — South Mills, NC

% of Rental Stock

Property Listings — South Mills, NC

Demographics — South Mills, NC

Race and Ethnicity

Mortgage and Risk — South Mills, NC

Mortgages

Rentals and Section 8 — South Mills, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — South Mills, NC

Home Price to Income Ratio

South Mills, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Chesapeake, VA

Moyock, NC

Elizabeth City, NC

Hobbsville, NC

Chesapeake, VA

Frequently Asked Questions

What is the average home price in South Mills, NC 27976?

How have home prices in South Mills, NC 27976 changed over the past year?

What is the home price projection for South Mills, NC 27976?

What are the demographics of South Mills, NC 27976?

How long does it take homes to sell in South Mills, NC 27976?

What is the average rent price in South Mills, NC 27976?