Wilmington, North Carolina Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Wilmington, North Carolina rental market.
Wilmington, North Carolina
Average Apartment Rent
$1,644
Y-o-Y Change in Average
Apartment Rent
0.6%
As of July 2024
Compared to a year ago, Wilmington, North Carolina apartments have recorded a 0.6% rent increase.
Wilmington, North Carolina Average apartment rent trend
Wilmington, North Carolina Average Apartment Rent
Wilmington, North Carolina Apartment rent ranges
At 42.21%, apartments priced $1,000 - $1,500 represent the bulk of Wilmington, North Carolina rentals, while condos priced $700 - $1000 hold the lowest share of the market – 1.5%.
Wilmington, North Carolina Housing tenure**
Renters take up 54% of Wilmington, North Carolina real estate, occupying a total of 28,853 units, while homeowners live in 24,521 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$42,164
Average household size of renter-occupied housing units**
1.99
Rental vacancy rate**
4.1%
Wilmington, North Carolina Renter-occupied housing units by no. of bedrooms**
There are 13,182 rentals in Wilmington, North Carolina with 2 beds making up the highest share of the market, at 46%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 261 units. Overall, the median number of rooms in Wilmington, North Carolina homes for rent is 4.
Wilmington, North Carolina Renter-occupied units by age of householder**
Most condos for rent in Wilmington, North Carolina are occupied by residents in the 25 - 34 years age group (26%), followed by those in the 15 - 24 years age group (17%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 4%.
Wilmington, North Carolina Renter-occupied housing units by family type**
Wilmington, North Carolina Renter-occupied housing units by the presence of own children**
A total of 9,577 apartments for rent in Wilmington, North Carolina, or 33% of all rentals are family households. Additionally, 16% of rental homes include children under the age of 18 – that’s 4,494 units. All in all, the median size of a renter-occupied household in Wilmington, North Carolina is 1.99.
Wilmington, North Carolina Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 32% of the rental market. In contrast, residents with less than a high school degree reside in 8% of the homes for rent in Wilmington, North Carolina.
Wilmington, North Carolina Renter-occupied units by year structure built**
The highest share of Wilmington, North Carolina apartment rentals, namely 18% or 5,076 units, were Built 2010 - 2019, followed by those Built 1990 - 1999 (17%, 4,863 units), and the ones Built 1980 - 1989 (16%, 4,568 units).
Wilmington, North Carolina Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Wilmington, North Carolina renters (41%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Wilmington, North Carolina condos for rent is 2018.
Wilmington, North Carolina Renter-occupied housing units by vehicles available**
When it comes to transportation options, 50% of Wilmington, North Carolina renters have 1 vehicle available per household, 26% of them have 2 vehicles available, and 15% have No vehicle available.
Wilmington, North Carolina Means of transportation to work of householders living in renter-occupied housing units**
Wilmington, North Carolina Geographical mobility in the past year for householders living in renter-occupied housing units**
Wilmington, North Carolina Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Wilmington, North Carolina apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
