Wilmington is a medium sized coastal city positioned on the southeastern coastline of NC, and near the border of South Carolina, supporting a population of around 118,000 and employing about 61k people.

Wilmington annual population growth rate is sitting around 0.77% which is solid, 2.33% growth since the 2020 Consensus has been recorded. Persons over 65 account for ~17.5% of the population. Median age of 42, 18.5 min average commute to work, and a bit over 7,200 veterans locally. Wilmy is the 8th largest city in NC, and 266th largest in the US.

Wilmington has been working on many projects here lately, and I will list some of them now; They recently finished a 13,000 sq ft Fuel Fitness Center, Harbor Freight is slated to open a second location, as is Target over on Monkey Junction (this has been in consideration for nearly a decade, so hold your breath).
In Scotts Hill, at Baker Farm, Oak Grove will see 186 residential units added, in a $40,000,000 project on, with $120,000,000 worth in projects already permitted and planned by the same developer within the community. Additionally the same developer is looking to create a 100,000 sq ft commercial space /plaza for local residents to be able to benefit from. That same developer has put in nearly $700,000 in offsite developments such as an turning lanes, and signals.

Currently there is a 5 year infrastructure plan finishing up on the books, for the years 2018-2023 with funding of $59,000,000. This came after an initial $41,000,000 spent in 2012-2017 on local infrastructure. In 2018 Love Grove Memorial Bridge opened, $5,000,000 investment. The Riverwalk Center in 2022 finished up phase I, and when more available funding can applied will finish out in phase 2. This improvement plan also includes many of streets nearby.

Plenty of recent, past, and new investments going into Wilmington. It's clear that many businesses are thinking of expansion in the area, the demand for more housing is present, and the population has continued to grow.

Wilmington's largest employers are New Hannover Medical, and New Hannover Public Schools.

Wilmington's premier school is University of North Carolina Wilmington (UNCW) which as of 2020 report 17,915 students with a 73.8% full time student rate.

Let's talk crime, then numbers. Wilmy sits at a 6 out 100 on the crime index (with 100 being the safest) Taking a look at the 2021 Police Reports that have released, it suggests a slight increase of crime year over year of 1.47%. Despite that increase, it was still the second lowest crime stats since 2009. However their total crime (part 1) report, suggests that crime from 2009-2021 has decreased by 41.6%, while the population has increased by ~24% in the same period. This is excellent police and community work in the local areas. It appears the main focus from the department has been to enhance the security of the downtown areas, and also more specifically the center business district.

The median home value is around $280,000, median sale price is around $393,000. Average DOM around 57 with average homes getting 2% under list and pending in 15 days, and hot homes are getting an average of at list and pending in 4 days. Some homes are getting multiple offers, and I'd consider it "Pretty" Competitive for the deals that are going. Either the deal is exciting, and moving quickly, or it's sitting there wondering what happened. Buyer's will move quickly for the right property, and especially in the STR areas; if the right house on the right road opens up, it'll be the target of many investors local and abroad.

About a 46.2% owner occupied ratio. SFH 56% MFH 42%. Poverty rate is around 18.8%. A copious amount of renters, supplied with students regularly, and decently high poverty rate, gives investors opportunity in many avenues in Wilmington. From Affordable housing, to Buy & Holds, and LTRs/MTRs, and the ever attractive STR in a historic coastal city.

Wilmy has a cost of living ranked as 4/50th most expensive in NC, which means as far as NC is concerned it's one of the most expensive places to live, and I'd say that makes perfect sense.

Wilmington's most recent figure for GDP is at $18.2 Billion, in 2018 they were at $14.7 Billion, that's solid growth.

I of course have to mention appreciation in Wilmy, looks like the average annual appreciation rate is sitting around 4.15% since 2000.

To conclude Wilmington is a gorgeous part of North Carolina, and a city with great historical value to the state, and the country. It's been an ever important port city for North Carolina, and has been instrumental in the development of North Carolina as a whole. Boasting some of the nicest homes in NC, one of the most popular in-state schools, and it's coastline for tourists; Wilmington makes a great place to be on any investors radar. The prices in Wilmington may be higher than other parts of the state, both to live and purchase in, but the room to make a great deal happen continues. As previously mentioned in regards to Wilmington, especially as it pertains to the STR market, investors tend to be very specific on the house, and location. Typically a street by street basis, if you intend on investing from a distance into the Wilmington market, make sure to connect and build a team that knows the area extremely well. Keep Wilmy on your radar, I know I will.

Talk at you again in 3 months Wilmington!

As always looking for questions, comments, concerns, and any feedback. It's impossible to know everything about a market, so any value add information is expressly desired, and I appreciate it! I'm looking to connect with more people on here, so please reach out! Don't be stingy with upvotes or commenting anywhere on this thread, it's how I know this content is bringing value to readers.

Cheers!

For more reading and sources:

https://www.census.gov/quickfa...

https://worldpopulationreview....

https://censusreporter.org/pro...

https://datausa.io/profile/geo...

https://datausa.io/profile/uni...

https://www.neighborhoodscout....

https://livingcost.org/cost/un...

https://www.forbes.com/places/...

https://fred.stlouisfed.org/se...

https://www.wilmingtonnc.gov/H...