ZIP Code Market Report
28405 — Wilmington, NC
Data through February 2026 · Updated monthly
Avg Home Value
$365,845
▼ 2.6% year-over-year
Month-over-Month
-0.5%
▼ 0.5%
Single Family
$374,909
Condo / Co-op
$223,872
The average home value in the 28405 ZIP code (Wilmington, NORTH-CAROLINA) is $365,845 as of February 2026. Home prices are declining, down 2.6% compared to last year.
A 3-bedroom home in 28405 is valued at $350,618. Single-family homes average $374,909, while condos average $223,872.
The market in 28405 has a $517,002 spread between bottom-tier homes at $263,752 and top-tier homes at $780,754. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
Looking ahead, Zillow's forecast model projects home values in the 28405 ZIP code will increase 0.1% over the next 12 months, bringing the projected average to approximately $366,211. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the New Hanover County market area in NORTH-CAROLINA. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full New Hanover County report.
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Market Snapshot
28405 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $369,442 | $367,685 | $365,845 | ▼ 1.0% |
| Single Family Value | $375,288 | $375,210 | $374,909 | ▼ 0.1% |
Home Values
28405 Home Value Trend
Historical home values for ZIP code 28405. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 28405
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 2 Bedrooms | $256,359 |
| 3 Bedrooms | $350,618 |
| 4 Bedrooms | $693,469 |
Property Types
Home Values by Property Type in 28405
How different property types compare in this ZIP code.
All Homes
$365,845
Single Family
$374,909
Condo / Co-op
$223,872
Bottom Tier
$263,752
Top Tier
$780,754
Forecast
12-Month Home Value Forecast for 28405
Zillow projects home values in 28405 will increase 0.1% over the next year, reaching approximately $366,211.
Current Value
$365,845
Projected Change
+0.1%
▲ 0.1%
Projected Value
$366,211
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 28405 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
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