Wilmington, NC · North Carolina
New Hanover County
ZIP 28409
231,214 residents2,307 permits TTM$72,892 median HHI10 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$353,700
ACS 5-Year
Cap rate proxy
4.6%
FMR × 0.65 ÷ Home Value
Rent-to-income
22.1%
HUD FMR ÷ ACS HHI
Net migration
+2.44%
IRS SOI
Permits (TTM)
2,307
Census BPS
Climate risk
96.1
FEMA NRI (0–100)
ZIP 28409
Median home value
—
Gross yield
—
Cap rate
5.4%
Rent gap
—
Affordability
P/I: 6.9R/I: 37.1%
Section 8 detail
SAFMR: —Rent: —Gap: —
ZIP code breakdown10 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 28429 | — | — | — | 7.5% | — |
| 28405 | — | — | — | 5.6% | — |
| 28401 | — | — | — | 6.4% | — |
| 28409 | — | — | — | 5.4% | — |
| 28411 | — | — | — | 5.1% | — |
Ranked by composite score
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Demographics
Owner-occupied
60.7%
Census ACS
Vacancy rate
12.7%
Census ACS
Bachelor's degree +
44.8%
Census ACS
Rent burdened
49.9%
Census ACS (>30% income)
Median age
40.1
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026