Wilmington, NC—28401
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 $322,000, with a year-over-year change of -3.5%. This indicates that home prices in Wilmington, NC are decreasing. 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 | $322,000 | -3.5% |
| Single Family | $318,000 | -3.6% |
| Condos | $350,000 | -3.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $301,000 | -5.3% |
2 Bed | $272,000 | -4.6% |
3 Bed | $328,000 | -2.7% |
4 Bed | $426,000 | -0.2% |
| 5 Bed | $557,000 | 0.0% |
% of Housing Stock
Rental Trends — Wilmington, NC
As of July '25, Rentcast reports the average rent in Wilmington, NC is $1,630, with a year-over-year rent change of -5.2%. Per bedroom, the median rent as of July '25 in Wilmington, NC is studios: $1,180, 1-bedrooms: $1,360, 2-bedrooms: $1,720, 3-bedrooms: $2,020, 4-bedrooms: $2,410. The most common rental property sizes in Wilmington, NC are 2-bedroom and 3-bedroom, accounting for 45.1% and 23.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,630 |
| Studio Rent | $1,250 | $1,180 |
| 1 Bed Rent | $1,250 | $1,360 |
| 2 Bed Rent | $1,550 | $1,720 |
| 3 Bed Rent | $2,000 | $2,020 |
| 4 Bed Rent | $2,500 | $2,410 |
% 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 84. This is a increase of 33.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $379,000 | -4.0% |
Listing Count | 192 | -1.0% |
| Listings as % of Homes | 0.8% | -1.0% |
Days on Market | 84 | 33.0% |
Demographics — Wilmington, NC
As of the latest ACS Survey released in 2023, Wilmington, NC has a population of 21,800, which has decreased by -10.1% over the past 5 years. Wilmington, NC is a moderately popular place for families, as children make up 15.3% of the population. The area has a moderately educated workforce, with 33.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,800 | -10.1% |
% Under 18 | 15.3% | -29.5% |
% Seniors | 19.0% | 23.4% |
% WFH | 19.6% | 211.1% |
% w/ College Degree | 33.7% | 38.7% |
As of the latest ACS Survey released in 2023, Wilmington, NC is a predominantly white area, with 51.9% of the population identifying as white. The white population has grown by 7.7% in the last 5 years. The second most common race or ethnicity in Wilmington, NC is black, making up 32.7% of the population. Foreign-born residents account for 5.9% of the population in Wilmington, NC, and this percentage has increased by 18.0% 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 | 51.9% | 7.7% |
% Black | 32.7% | -15.5% |
% Hispanic | 9.3% | 6.9% |
% Asian | 0.6% | 50.0% |
% Foreign Born | 5.9% | 18.0% |
Mortgage and Risk — Wilmington, NC
According to HUD data as of 2023, there were 310 mortgage originations in Wilmington, NC, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Wilmington, NC. Investor activity is low, as 9.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 310 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 9.0% |
% Second Loans | 9.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Wilmington, NC
As of 2024, the percent of homes in Wilmington, NC under the Section 8 program is 17.7%. 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. In Wilmington, NC, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 1,758 |
Total Units Section 8 | 1,056 |
% Rentals under Section 8 | 17.7% |
% Occupied Section 8 | 61.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$30 | $1,250 | $1,220 |
| 2 Bedroom | -$180 | $1,550 | $1,370 |
| 3 Bedroom | -$190 | $2,000 | $1,810 |
| 4 Bedroom | -$190 | $2,500 | $2,310 |
Affordability — Wilmington, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.8 |
| Median Home Price | $322,000 |
| Median Household Income | $52,200 |