New Hanover County, North Carolina Real Estate Investing Guide

New Hanover County is located in the southeastern coastal region of North Carolina along the Atlantic Ocean. The county seat and primary city is Wilmington, which serves as the economic and cultural hub. Other communities include Wrightsville Beach, Carolina Beach, and Kure Beach.

Major cities/towns & beach markets (investor-relevant):

Why investors pay attention here (practical, underwriting-focused):

A diversified base of healthcare, education, and services, plus port/industrial linkages in the region. StarNewsOnline+1

Coastal access + tourism demand (supports rentals and resale, especially near beaches and core corridors). NCPedia+1

The county’s strategic location along the coast, proximity to beaches, and growing fintech sector (earning the nickname “Hollywood East” for its film industry) create multiple investment angles. Properties near UNCW, the historic downtown, beach communities, and employment centers offer rental hold opportunities, while the higher median home prices support premium fix-and-flip strategies with strong exit liquidity.

Population & Demographic Overview

Current population: 231,214 (2023). Data USA

Growth trend: +1.35% from 2022 → 2023. Data USA

Median household income: $72,892 (2019–2023, inflation-adjusted). Census.gov+1

Median age: ~40.1 (DataUSA). Data USA

The median household income in New Hanover County is $72,892, which is higher than the state average and reflects the area’s diverse economy with professional services, healthcare, and technology employment. The county’s racial composition includes White (75.1%), Black or African American (11.1%), and Hispanic (7.6%) populations. The median age is 41.3 years, slightly higher than the state average.

The tenant base in New Hanover County is diverse and includes college students at UNCW (over 18,000 enrolled), young professionals working in fintech and healthcare, military personnel, healthcare workers, tourism and hospitality employees, and retirees attracted to coastal living. The homeownership rate is approximately 60.7%, with 39.3% of residents renting. The county’s 6.07% foreign-born population adds to its diversity.

Rental Market & Long-Term Rental Potential

The rental market in New Hanover County, particularly Wilmington, shows a range of pricing depending on location and property type. Current average rents vary by source but generally fall in these ranges:

Baseline rent signal (HUD FY2025 FMR – Wilmington, NC HMFA / New Hanover):

Market rent context (Zillow snapshot signals):

  • Zillow reports average rent ~ $1,900 in Wilmington (all beds / all property types). Zillow
  • Current asking-rent examples show wide dispersion:
    • 2BR houses commonly list around $1,400–$1,800+ depending on condition and location. Zillow
    • 3BR houses commonly list around $2,300–$3,500+ depending on size and submarket. Zillow

Primary rent drivers:

Tourism + beach markets (seasonality matters; underwriting should reflect location-specific dynamics). NCPedia+1

UNCW (student demand + staff employment base) University of North Carolina Wilmington+1

Healthcare employment (Novant / New Hanover Regional Medical Center campus) Novant Health+1

Primary rent drivers include UNCW’s enrollment of over 18,000 students (contributing billions annually to the local economy), healthcare employment at Novant Health and New Hanover Regional Medical Center, technology and fintech companies including nCino and Live Oak Bank, tourism and hospitality employment year-round, Port of Wilmington logistics and manufacturing jobs, and military personnel stationed in the region.

The common tenant profile includes college students seeking housing near campus, young professionals in technology and healthcare sectors, healthcare workers at major medical facilities, military families and personnel, tourism and service industry workers, and retirees seeking coastal living with access to amenities.

Fix-and-Flip & Value-Add Opportunities

The median home sold price in New Hanover County (Wilmington market) ranges from $439,000 to $480,000 as of late 2024, representing moderate year-over-year appreciation of 5-6%. The median price per square foot is approximately $259 to $265.

Typical price ranges for distressed or fixer properties generally fall between $250,000 and $350,000, though entry points vary significantly by neighborhood. Properties requiring updates, cosmetic renovations, or system replacements can often be acquired below the median price, particularly in areas outside the premium beach communities.

The market shows moderate activity with homes averaging 36 to 42 days on market. In recent months, approximately 46% of homes sold under asking price, 30% at asking, and 13% over asking, suggesting some negotiation opportunities exist. However, 65% of homes still sell within 30 days in desirable areas, indicating continued demand.

Demand for renovated homes remains strong, particularly in neighborhoods near downtown Wilmington, close to UNCW, and in areas with beach access or water views. The market supports value-add strategies for investors who can improve distressed inventory, modernize outdated properties, and position homes for owner-occupants or premium renters. The exit strategy benefits from strong buyer demand driven by relocations to the area and second-home purchases.

Local Economy & Employment Base

New Hanover County’s economy is well-diversified across multiple sectors:

Major Employers:

  • Novant Health New Hanover Regional Medical Center (major healthcare employer, $3 billion infrastructure investment)
  • University of North Carolina Wilmington (over 18,000 students, billions in annual economic impact)
  • nCino (fintech company, publicly traded)
  • Live Oak Bank (fintech/banking)
  • PPD Clinical Research (part of Thermo Fisher Scientific, life sciences)
  • Corning Incorporated (fiber optics and materials science)
  • Port of Wilmington (NC Ports, $356+ million in infrastructure improvements)
  • Cape Fear Community College (workforce training)

Economic Drivers:

  • Healthcare Sector: Largest employment sector with thousands of jobs across Novant Health, medical practices, and related services
  • Technology & Fintech: Wilmington has emerged as a rising tech hub (#13 on South’s Best Metros for Tech 2024) with companies like nCino, Live Oak Bank, and Vantaca
  • Education: UNCW contributes billions to the local economy and provides workforce training
  • Port & Logistics: Port of Wilmington supports logistics, manufacturing, and shipping with significant infrastructure investment and intermodal expansion
  • Film Industry: Known as “Hollywood East,” supporting production jobs and creative industries
  • Tourism: Year-round coastal tourism supporting hospitality, retail, and service sectors
  • Life Sciences: UNCW’s CREST Research Park attracts biotech and pharmaceutical companies

The average hourly wage in Wilmington is $26.94, with management occupations averaging $56.32 and computer/mathematical occupations averaging $46.38. The diversity of employment across these sectors provides rental stability and reduces risk from single-industry exposure.

Why Invest in New Hanover County?

  • Strong Population Growth: 1.35% annual growth with 21.31% increase since 2010
  • Coastal Appeal: Direct access to Atlantic beaches and coastal lifestyle attracts residents and tourists
  • Diversified Economy: Healthcare, education, technology, logistics, and tourism create multiple employment drivers
  • UNCW Rental Demand: Over 18,000 students plus faculty and staff provide consistent rental base
  • Major Employers: Novant Health ($3B investment), UNCW, nCino, Live Oak Bank, Port of Wilmington
  • Rising Tech Hub: Emerging fintech and technology center attracting young professionals
  • Premium Market: Higher median incomes ($72,892) support stronger rents and property values
  • Infrastructure Investment: Port of Wilmington ($356M+ improvements), Wilmington International Airport (66% capacity increase 2022-2025)
  • Quality of Life: Beaches, mild climate, cultural amenities, and university presence attract residents

Buying or Selling Property in Lenoir County?

JND Real Estate Group, LLC works with local and out-of-state investors looking to buy discounted properties in Lenoir County, North Carolina. If you are searching for off-market deals, long-term rental properties, or fix-and-flip opportunities, contact us today to learn more.

Contact Information:

Janice Shearin – 252-326-1197
Dwight Cox – (919) 944-7248

jdrealestategroup@yahoo.com

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Important Investment Disclosure

The information provided on this page is for general informational purposes only and is not intended to be financial, legal, tax, or investment advice. All market data, population statistics, rental estimates, pricing information, and other metrics are derived from third-party sources believed to be reliable; however, JND Real Estate Group, LLC makes no representations or warranties as to the accuracy, completeness, or timeliness of such information. Real estate markets are subject to change, and conditions may vary by property, neighborhood, and time. Investors are strongly encouraged to conduct their own independent due diligence, verify all data independently, and consult with licensed professionals prior to making any investment decision. JND Real Estate Group, LLC assumes no liability for investment decisions made based on the information presented on this website.