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  4. /Wilmington, NC - 28409

Wilmington, NC—28409

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$518,000
0.1% YoY Growth
Household Income
$108,000
37.4% YoY Growth
Days on Market
41
2.0% Shorter YoY
Home Price Forecast
2.1%
Median Rent
$2,300
2.9% YoY Growth
1-Bed Rent
$1,300
4.7% YoY Growth
2-Bed Rent
$1,500
3.0% YoY Growth
3-Bed Rent
$2,400
6.5% YoY Growth

Other Zip Codes in Wilmington, NC

2840328405284012841128412
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Wilmington, NC

As of May '26, the median home price in Wilmington, NC is $518,000, with a year-over-year change of 0.1%. This indicates that home prices in Wilmington, NC are flat. 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 TypeMedian Home ValueYoY % Change
All Homes
$518,0000.1%
Single Family $520,0000.2%
Condos $240,000-3.2%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$308,000-3.1%
    3 Bed
    		$456,000-0.2%
    4 Bed
    		$639,0000.5%
    5 Bed $886,5801.4%
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    % of Housing Stock

    Studio
    0.3%
    1 Bedroom
    0.8%
    2 Bedrooms
    9.4%
    3 Bedrooms
    54.3%
    4 Bedrooms
    27.9%
    5+ Bedrooms
    7.4%

    Rental Trends — Wilmington, NC

    As of July '25, Rentcast reports the average rent in Wilmington, NC is $2,480, with a year-over-year rent change of 2.9%. Per bedroom, the median rent as of July '25 in Wilmington, NC is 1-bedrooms: $1,410, 2-bedrooms: $1,640, 3-bedrooms: $2,640, 4-bedrooms: $3,160. The most common rental property sizes in Wilmington, NC are 3-bedroom and 2-bedroom, accounting for 45.3% and 34.8% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,300$2,480
    Studio Rent N/AN/A
    1 Bed Rent $1,300$1,410
    2 Bed Rent $1,500$1,640
    3 Bed Rent $2,400$2,640
    4 Bed Rent $3,000$3,160
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    % of Rental Stock

    Studio
    1.8%
    1 Bedroom
    2.9%
    2 Bedrooms
    34.8%
    3 Bedrooms
    45.3%
    4 Bedrooms
    9.9%
    5+ Bedrooms
    5.3%

    Property Listings — Wilmington, NC

    As of May '26, Realtor.com reports that the median days on market for a home in Wilmington, NC is 41. This is a decrease of -2.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$651,0005.0%
    Listing Count
    		2077.0%
    Listings as % of Homes0.9%7.0%
    Days on Market
    		41-2.0%
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    Demographics — Wilmington, NC

    As of the latest ACS Survey released in 2023, Wilmington, NC has a population of 35,000, which has increased by 2.4% over the past 5 years. Wilmington, NC is a moderately popular place for families, as children make up 23.5% of the population. The area has a highly educated workforce, with 51.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.2% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		35,0002.4%
    % Under 18
    		23.5%0.4%
    % Seniors
    		18.5%2.2%
    % WFH
    		19.2%111.0%
    % w/ College Degree
    		51.3%6.4%
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    As of the latest ACS Survey released in 2023, Wilmington, NC is a predominantly white area, with 85.8% of the population identifying as white. The white population has shrunk by 1.6% in the last 5 years. The second most common race or ethnicity in Wilmington, NC is hispanic, making up 5.7% of the population. Foreign-born residents account for 4.4% of the population in Wilmington, NC, and this percentage has decreased by 22.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		85.8%-1.6%
    % Black
    		4.1%64.0%
    % Hispanic
    		5.7%-1.7%
    % Asian
    		1.0%-16.7%
    % Foreign Born
    		4.4%-22.8%
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    Mortgage and Risk — Wilmington, NC

    According to HUD data as of 2023, there were 994 mortgage originations in Wilmington, NC, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 16.0% above 90% LTV (elevated). This implies medium 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

    MetricZip Code Average
    Total Loan Originations
    		994
    % Conventional Loans
    		91.0%
    % Government Loans
    		9.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		3.0%
    % Cash Out Refinance
    		8.0%
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    Rentals and Section 8 — Wilmington, NC

    As of 2024, the percent of homes in Wilmington, NC under the Section 8 program is 1.7%. 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 and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Wilmington, NC, because HUD payments exceed market rent, while 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		35
    Total Units Section 8
    		35
    % Rentals under Section 8
    		1.7%
    % Occupied Section 8
    		60.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$360$1,300$1,660
    2 Bedroom$340$1,500$1,840
    3 Bedroom$30$2,400$2,430
    4 Bedroom-$110$3,000$2,890

    Affordability — Wilmington, NC

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.3
    Median Home Price$518,000
    Median Household Income$108,000

    Wilmington, NC — ZIP Code Boundary Map

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    Frequently Asked Questions