Leicester, NC—28748
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Leicester, NC
As of Nov '25, the median home price in Leicester, NC is $425,000, with a year-over-year change of -2.0%. This indicates that home prices in Leicester, NC are decreasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $425,000 | -2.0% |
| Single Family | $426,000 | -2.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $326,000 | -1.8% |
3 Bed | $445,000 | -2.0% |
4 Bed | $569,000 | -1.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Leicester, NC
As of July '25, Rentcast reports the average rent in Leicester, NC is $2,100, with a year-over-year rent change of -3.7%. Per bedroom, the median rent as of July '25 in Leicester, NC is studios: $1,250, 1-bedrooms: $2,070, 2-bedrooms: $1,670, 3-bedrooms: $2,360, 4-bedrooms: $2,900. The most common rental property sizes in Leicester, NC are 3-bedroom and 2-bedroom, accounting for 52.6% and 25.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,100 |
| Studio Rent | $1,250 | $1,250 |
| 1 Bed Rent | $1,300 | $2,070 |
| 2 Bed Rent | $1,500 | $1,670 |
| 3 Bed Rent | $2,200 | $2,360 |
| 4 Bed Rent | $2,900 | $2,900 |
% of Rental Stock
Property Listings — Leicester, NC
As of Nov '25, Realtor.com reports that the median days on market for a home in Leicester, NC is 80. 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $600,000 | 9.0% |
Listing Count | 83 | 86.0% |
| Listings as % of Homes | 0.7% | 86.0% |
Days on Market | 80 | -2.0% |
Demographics — Leicester, NC
As of the latest ACS Survey released in 2023, Leicester, NC has a population of 12,900, which has increased by 2.4% over the past 5 years. Leicester, NC is a moderately popular place for families, as children make up 21.9% of the population. The area has a poorly educated workforce, with 22.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,900 | 2.4% |
% Under 18 | 21.9% | -3.1% |
% Seniors | 17.7% | 8.6% |
% WFH | 11.2% | 41.8% |
% w/ College Degree | 22.8% | 23.9% |
As of the latest ACS Survey released in 2023, Leicester, NC is a predominantly white area, with 80.6% of the population identifying as white. The white population has shrunk by 11.4% in the last 5 years. The second most common race or ethnicity in Leicester, NC is hispanic, making up 10.2% of the population. Foreign-born residents account for 4.0% of the population in Leicester, NC, and this percentage has increased by 2.6% 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 | 80.6% | -11.4% |
% Black | 3.1% | 138.5% |
% Hispanic | 10.2% | 108.2% |
% Asian | 0.4% | 0.0% |
% Foreign Born | 4.0% | 2.6% |
Mortgage and Risk — Leicester, NC
According to HUD data as of 2023, there were 310 mortgage originations in Leicester, NC, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Leicester, 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 | 310 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 1.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 10.0% |
Rentals and Section 8 — Leicester, NC
As of 2024, the percent of homes in Leicester, NC under the Section 8 program is 4.2%. 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 units appear to be good home sizes to consider for Section 8 housing in Leicester, NC, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 51 |
Total Units Section 8 | 51 |
% Rentals under Section 8 | 4.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $1,300 | $1,350 |
| 2 Bedroom | $20 | $1,500 | $1,520 |
| 3 Bedroom | -$250 | $2,200 | $1,950 |
| 4 Bedroom | -$330 | $2,900 | $2,570 |
Affordability — Leicester, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6 |
| Median Home Price | $425,000 |
| Median Household Income | $65,300 |