Wilmington, North Carolina Housing Market Prices
Wilmington 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 15% below the North Carolina median$235,693
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Median rent 13% above the North Carolina median$1,390
Housing Market Overview
| Metric | Wilmington | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $235,693 | $278,288 | $248,835 |
| Price Trend (Annual %) | 3.9% | 9.3% | 7.5% |
| Median Gross Rent | $1,390 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 6.0% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wilmington is about 15% lower than in North Carolina. Rent is about 13% 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 Wilmington, up about 3.9% and 6.0% a year respectively. Rent is changing faster.
Median rent in Wilmington rose about 62.3% between 2015 and 2024, from $857 to $1,390. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Wilmington.
Buying the median-priced home in Wilmington costs roughly 14.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Wilmington. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Wilmington | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $235,693 | $278,288 | $248,835 |
| Median Household Income | $66,868 | $72,438 | $80,455 |
| Price-to-Income Ratio | 3.5 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Wilmington rose about 69.7%, while median household income rose about 63.0% 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 | Wilmington | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 44.8% | 58.3% | 58.5% |
| Rental Rate | 45.6% | 29.2% | 31.2% |
| Vacancy Rate | 9.6% | 12.5% | 10.2% |
| Median Tenure (years) | 10.0 | 15.0 | 15.0 |
| Median Year Moved In | 2016 | 2011 | 2011 |
Wilmington has a homeownership rate of 44.8%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 9.6%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Wilmington | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.07 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1985 | 1989 | 1978 |
| Median Number of Rooms | 5.1 | 5.6 | 5.5 |
The typical housing unit in Wilmington was built around 1985. On average, 2.1 people live in a home with about 5.1 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Wilmington, North Carolina.
What is the median home price in Wilmington, North Carolina?
The median home price in Wilmington, North Carolina is $235,693, lower than the North Carolina average of $278,288.
What is the average home price in Wilmington, North Carolina?
The typical home price in Wilmington, North Carolina, reported as the median sale price, is $235,693. 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 Wilmington, North Carolina?
The median gross rent in Wilmington, North Carolina is $1,390 per month, higher than the North Carolina average of $1,227.
What was the median gross rent in Wilmington in 2020?
In 2020, the median gross rent in Wilmington, North Carolina was $993 per month.
What is the price-to-rent ratio in Wilmington, North Carolina?
The price-to-rent ratio in Wilmington, North Carolina is about 14.1, meaning it would take roughly 14.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Wilmington.
Are home prices or rent rising faster in Wilmington, North Carolina?
Both home prices and rent are rising in Wilmington, up about 3.9% and 6.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Wilmington, North Carolina?
44.8% of households in Wilmington, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in Wilmington, North Carolina?
The housing vacancy rate in Wilmington, North Carolina is 9.6%, lower than the North Carolina average of 12.5%.
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