The story of this market
The typical home in ZIP 28405 sells for about $388,000, or $235 per square foot.
Prices are down 9.88% from a year ago, which gives buyers more room to negotiate. Homes take about 58 days to sell. HUD's fair market rent for a two-bedroom is $1,696 a month.
ZIP 28405 — Wilmington
The 28405 housing market shows signs of stabilization after a period of price correction, with inventory levels remaining moderate. While year-over-year prices have dipped, the area remains a desirable location due to its proximity to the coast and university, supporting long-term demand.
This ZIP is well-suited for families, university-affiliated professionals, and investors seeking proximity to both the coast and urban amenities.
Median prices moved down 9.9% year over year.
Homes spend a median of 58 days on market with 3.2 months of supply — a fast-moving market.
22% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.8% · poverty 11.5% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 28405, New Hanover County NC
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the 28405 area are generally consistent with urban Wilmington trends, with property crime being the primary concern compared to regional averages.
Schools serving the area are part of the New Hanover County Schools system, which maintains a mix of highly-rated magnet programs and standard neighborhood schools.
The area is subject to coastal hurricane and tropical storm risks, necessitating flood insurance for many properties and adherence to strict wind-mitigation building codes.
Economic momentum is driven by the proximity to the University of North Carolina Wilmington and the expanding healthcare and logistics sectors in the Wilmington metro area.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (North Carolina) — Tax Lien Attachment: A tax lien attaches to all real property, taking priority over all other liens and encumbrances regardless of when they were created. State (North Carolina) — Ad Valorem Property Tax: Tax is calculated by multiplying the assessed value of the property by the combined state and local tax rate. The formula is: Tax = (Assessed Value / 100) * Tax Rate.
Residents typically face a 20-30 minute commute to downtown Wilmington or the major employment hubs near the airport and university via I-40 and US-17.
The ZIP features extensive access to the Intracoastal Waterway, numerous public parks, and proximity to the shopping and dining districts of Mayfaire Town Center.
The rental market is characterized by high demand driven by the student population and coastal tourism, with a trend toward stable but elevated rent levels.
The economy is anchored by the University of North Carolina Wilmington, New Hanover Regional Medical Center, and a growing cluster of technology and logistics firms.
The area is served by major highway corridors including I-40 and US-17, with limited public transit options primarily provided by Wave Transit.
Development is focused on densification along the Market Street corridor and expansion of residential capacity near the university.
New Hanover County conducts property revaluations periodically to ensure assessments align with current market values.
Parcels are subject to New Hanover County school taxes and various municipal service districts for fire and emergency response.
Property insurance premiums are elevated due to coastal wind and flood exposure, with many properties requiring specialized coverage.
Not applicable for ZIP level.
Not applicable for ZIP level.
Not applicable for ZIP level.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Indochine Restaurant4.54.7 mi
- Jungle Rapids Family Fun Park4.43.3 mi
- Live Oak Bank Pavilion4.27.2 mi
- Wilmington Convention Center4.57.2 mi
- Wilson Center at Cape Fear Community College4.87 mi
- Battleship North Carolina4.87.4 mi
- Wilmington Riverwalk, Battleship Eastside Site.4.77.1 mi
- Airlie Gardens4.81.7 mi
- Jungle Rapids Family Fun Park4.43.3 mi
- Johnnie Mercers Fishing Pier4.52.9 mi
- Battleship North Carolina4.87.4 mi
- Fort Fisher State Historic Site4.819.5 mi
- The Cotton Exchange4.57.1 mi
- The Children's Museum of Wilmington4.47 mi
- Cameron Art Museum4.66.5 mi
- Airlie Gardens4.81.7 mi
- Long Leaf Park4.74 mi
- Ogden Park4.71.9 mi
- Smith Creek Park4.83.3 mi
- N.C. Cooperative Extension, New Hanover County Center4.82.3 mi
- Carolina Yacht Club4.53.2 mi
- Port City Marina4.57.2 mi
- Wrightsville SUP - Kayak & SUP Rentals, Lessons, and more52.4 mi
- Inlet Watch Yacht Club4.711.9 mi
- Seapath Yacht Club4.72.3 mi
- Beau Rivage Golf & Resort4.410 mi
- Cape Fear Country Club4.65.5 mi
- Wilmington Municipal Golf Course4.13.8 mi
- Magnolia Greens Golf Course4.412.5 mi
- Porters Neck Country Club4.65.2 mi
- Independence Mall4.15 mi
- T.J. Maxx4.32.7 mi
- Kohl's4.42.2 mi
- Marshalls4.20.7 mi
- HomeGoods4.42.8 mi
- Wilmington International Airport4.35.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Major regional open-air shopping and entertainment hub.
Large community park with lake access and trails.
Premier gated community with championship golf courses.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.