New Hanover County, North Carolina Housing Market
In New Hanover County, North Carolina, the median home value is $387,800, with a median monthly rent of $1,417. This places New Hanover County at #324 nationally out of 3134 counties by median home value, and #9 within North Carolina.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,256
- Establishments: 10,861
- BLS QCEW, 2025
Housing Supply
- Single-family: 1,208
- Multi-family: 1,124
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 97,760 (avg $107,518)
- Outflow: 90,216 (avg $107,893)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in New Hanover County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 28449 | 392.5 | — | 2025 |
| 2 | 28403 | 323.2 | +9.09% | 2025 |
| 3 | 28405 | 324.8 | +6.40% | 2025 |
| 4 | 28401 | 356.7 | +3.31% | 2025 |
| 5 | 28411 | 294.1 | +6.84% | 2025 |
| 6 | 28429 | 308.6 | +7.15% | 2025 |
| 7 | 28409 | 296.0 | +2.55% | 2025 |
| 8 | 28428 | 433.3 | +4.58% | 2025 |
| 9 | 28412 | 282.8 | -0.50% | 2025 |
| 10 | 28480 | 305.4 | +12.85% | 2021 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How New Hanover County Compares
| Metric | New Hanover County | North Carolina Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $387,800 | $235,312 | $227,706 |
| Median Gross Rent | $1,417 | $976 | $968 |
| Owner Occupancy Rate | 61.4% | 71.8% | 73.3% |
| Price/Rent Ratio | 22.8 | 19.8 | 18.7 |
Market Analysis
The median home value in New Hanover County is 64.8% above the North Carolina state average and 70.3% above the U.S. national average. The median rent of $1,417/month is 45.2% above the state average.
With a price-to-rent ratio of 22.8, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
New Hanover County has an owner-occupancy rate of 61.4%, compared to 71.8% in North Carolina and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Mariposa County | California | $387,900 | $1,305 |
| Orange County | New York | $387,900 | $1,680 |
| Montrose County | Colorado | $388,400 | $1,188 |
| Seminole County | Florida | $386,900 | $1,783 |
| Fresno County | California | $388,800 | $1,392 |
Other Counties in North Carolina
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Durham County | $389,400 | $1,508 | 55.5% |
| Buncombe County | $391,800 | $1,362 | 66.2% |
| Currituck County | $378,800 | $1,162 | 87.3% |
| Transylvania County | $373,600 | $967 | 74.7% |
| Mecklenburg County | $406,800 | $1,627 | 55.1% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).