1031 Exchange Wilmington, North Carolina

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Wilmington due to their correlations with market demand, and conversely, vacancy rate.

Surrounding metropolitan Area

Wilmington, North Carolina is a part of the Wilmington, NC metropolitan area, and contains 12 zip codes, including: 28402, 28408, 28407, 28405, 28410, and 28403.

Wilmington Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Wilmington, NC metropolitan area was $1,043, which is 30.87% lower than 2014 average rent. This represents a compounded annual growth rate of 5.53%. 2019 vacancy in Wilmington, NC was 3.10%.

The total population of the city of Wilmington, NC has grown 15.15% since 2010. As of 2018, the population was 122,607. The median household income of the Wilmington was $45,450, which is 24.62% lower than the national average.

  • metropolitan area Wilmington, NC
  • avg rent $1,043
  • rent growth 30.87%
  • vacancy 3.10%
  • median income $45,450
  • population (2018) 122,607
  • population growth 15.15%
  • vs. nat'l avg 24.62%
  • zip codes 28401 28402 28403 28404 28405 28406 28407 28408 28409 28410 28411 28412

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