New Hanover County, North Carolina Housing Market Prices
New Hanover County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 23% above the North Carolina median More expensive than 85% of counties in North Carolina$340,966
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Median rent 15% above the North Carolina median More expensive than 95% of counties in North Carolina$1,417
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | New Hanover County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $340,966 | $278,288 | $248,835 |
| Price Trend (Annual %) | 8.6% | 9.3% | 7.5% |
| Median Gross Rent | $1,417 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 5.5% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in New Hanover County is about 23% higher than in North Carolina. Rent is about 15% higher than the North Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in New Hanover County, up about 8.6% and 5.5% a year respectively. Home prices are changing faster.
Median rent in New Hanover County rose about 56.1% between 2015 and 2024, from $907 to $1,417. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 4.5 yearly household incomes in New Hanover County.
Buying the median-priced home in New Hanover County costs roughly 20.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in New Hanover County. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | New Hanover County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $340,966 | $278,288 | $248,835 |
| Median Household Income | $75,172 | $72,438 | $80,455 |
| Price-to-Income Ratio | 4.5 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in New Hanover County rose about 90.7%, while median household income rose about 49.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | New Hanover County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.6% | 58.3% | 58.5% |
| Rental Rate | 33.7% | 29.2% | 31.2% |
| Vacancy Rate | 12.7% | 12.5% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
New Hanover County has a homeownership rate of 53.6%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 12.7%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | New Hanover County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.19 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1993 | 1989 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in New Hanover County was built around 1993. On average, 2.2 people live in a home with about 5.4 rooms, staying for about 12.0 years on average.
New Hanover County, NC Housing Compared With Nearby Counties
New Hanover County, NC is the largest of the 6 counties compared here, 235,214 residents against a local median of 65,530. The measure that sets New Hanover County, NC apart most is median home price: $340,966, 61% above the local median of $211,539.
Median rent tells the same story from another angle: $1,417 against a local median of $1,106, 28% above it. The counties themselves spread $246,166 on median home price, so New Hanover County, NC sits at one end of an already wide local range rather than apart from it. New Hanover County, NC has the highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| New Hanover County, NC | 235,214 | $340,966 #1/6 | $1,417 #1/6 | 61.4% #6/6 |
| Pender County, NC | 65,530 | $211,539 | $1,106 | 82.7% |
| Brunswick County, NC | 152,554 | $286,445 | $1,351 | 84.6% |
| Onslow County, NC | 207,702 | $327,237 | $1,265 | 63.7% |
| Duplin County, NC | 49,292 | $96,951 | $864 | 70.3% |
| Columbus County, NC | 50,166 | $81,071 | $824 | 71.1% |
Frequently Asked Questions
Common questions about the housing market in New Hanover County, North Carolina.
What is the median home price in New Hanover County, North Carolina?
The median home price in New Hanover County, North Carolina is $340,966, higher than the North Carolina average of $278,288.
What is the average home price in New Hanover County, North Carolina?
The typical home price in New Hanover County, North Carolina, reported as the median sale price, is $340,966. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in New Hanover County, North Carolina?
The median gross rent in New Hanover County, North Carolina is $1,417 per month, higher than the North Carolina average of $1,227.
What was the median gross rent in New Hanover County in 2020?
In 2020, the median gross rent in New Hanover County, North Carolina was $1,060 per month.
What is the price-to-rent ratio in New Hanover County, North Carolina?
The price-to-rent ratio in New Hanover County, North Carolina is about 20.1, meaning it would take roughly 20.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in New Hanover County.
Are home prices or rent rising faster in New Hanover County, North Carolina?
Both home prices and rent are rising in New Hanover County, up about 8.6% and 5.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in New Hanover County, North Carolina?
53.6% of households in New Hanover County, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in New Hanover County, North Carolina?
The housing vacancy rate in New Hanover County, North Carolina is 12.7%, higher than the North Carolina average of 12.5%.
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