Erwin, NC—28339
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Erwin, NC
As of Oct '25, the median home price in Erwin, NC is $190,000, with a year-over-year change of -4.8%. This indicates that home prices in Erwin, NC are decreasing. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $190,000 | -4.8% |
| Single Family | $190,000 | -4.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $142,000 | -10.7% |
3 Bed | $209,000 | -4.1% |
4 Bed | $286,000 | -0.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Erwin, NC
As of July '25, Rentcast reports the average rent in Erwin, NC is $1,520, with a year-over-year rent change of 1.3%. Per bedroom, the median rent as of July '25 in Erwin, NC is 2-bedrooms: $1,270, 3-bedrooms: $1,570, 4-bedrooms: $1,750. The most common rental property sizes in Erwin, NC are 3-bedroom and 2-bedroom, accounting for 52.3% and 33.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,520 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $945 | $1,270 |
| 3 Bed Rent | $1,650 | $1,570 |
| 4 Bed Rent | $1,750 | $1,750 |
% of Rental Stock
Property Listings — Erwin, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Erwin, NC is 51. This is a decrease of -27.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $258,000 | 0.0% |
Listing Count | 40 | -1.0% |
| Listings as % of Homes | 1.9% | -1.0% |
Days on Market | 51 | -27.0% |
Demographics — Erwin, NC
As of the latest ACS Survey released in 2023, Erwin, NC has a population of 6,840, which has decreased by -7.0% over the past 5 years. Erwin, NC is a moderately popular place for families, as children make up 20.4% of the population. The area has a poorly educated workforce, with 13.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,840 | -7.0% |
% Under 18 | 20.4% | -1.0% |
% Seniors | 21.1% | 19.2% |
% WFH | 2.4% | 14.3% |
% w/ College Degree | 13.6% | 49.5% |
As of the latest ACS Survey released in 2023, Erwin, NC is a predominantly white area, with 59.7% of the population identifying as white. The white population has shrunk by 5.7% in the last 5 years. The second most common race or ethnicity in Erwin, NC is black, making up 26.1% of the population. Foreign-born residents account for 7.8% of the population in Erwin, NC, and this percentage has increased by 178.6% 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 | 59.7% | -5.7% |
% Black | 26.1% | -10.9% |
% Hispanic | 10.0% | 92.3% |
% Asian | 0.6% | 200.0% |
% Foreign Born | 7.8% | 178.6% |
Mortgage and Risk — Erwin, NC
According to HUD data as of 2023, there were 140 mortgage originations in Erwin, NC, of which 61.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 53.0% above 90% LTV (very high). This implies large mortgage risk in Erwin, NC. Investor activity is low, as 1.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 140 |
% Conventional Loans | 61.0% |
% Government Loans | 39.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Erwin, NC
Erwin, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 67 |
Total Units Section 8 | 65 |
% Rentals under Section 8 | 8.5% |
% Occupied Section 8 | 87.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $780 |
| 2 Bedroom | $75 | $945 | $1,020 |
| 3 Bedroom | -$220 | $1,650 | $1,430 |
| 4 Bedroom | -$30 | $1,750 | $1,720 |
Affordability — Erwin, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $190,000 |
| Median Household Income | $51,800 |