Wilmington, NC Rental Market

[Tyler Stone]

I (as well as other it seems) have become increasingly more interested in the Wilmington, NC market. I plan on working remote from there for a month or two to get more familiar with the area for potential BRRRR deals and meeting new investors. In advance, looking for any information that would shed more light on the market dynamics.

One specific question I have is if any investors rent to UNC Wilmington students during the academic term of the year (sept-may) then rent the remaining months to seasonal/weekly renters. Is there an area or neighborhood where this strategy is feasible? 

Thanks All 

[John Hinnant]

As an economic development asset, prior to the pandemic, UNCW was adding a net gain of 1000 new students a year. With that in mind, there have been several student housing projects both on and off campus. What we see more of is former students who choose to stay in Wilmington and those are your prospective tenants if that is the area you want to be in/around. Former students stick around and recent improvements in the job market have driven that trend. Many FinTech & BioTech companies are hiring UNCW grads and they start out making really good money - so the recent college graduate makes for a good tenant and they enjoy being near the university.