ZIP Code · NC

ZIP 28405

Part of Wilmington, NC

Pop. 35,467·New Hanover County·89th most expensive ZIP in North Carolina

Median rent (all units)

$1,735/mo

Year-over-Year

+5.7%

Month-over-Month

+1.1%

vs US Median

-$197

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 28405 · $1,735

More affordable than 55% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,180

1 BR

$1,560

2 BR

$1,710

3 BR

$2,240

4 BR+

$2,390

Research median

$1,710/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

January. Asking rents in ZIP 28405 usually run 1.9% below trend in January and 1.6% above it in August, about $61 a month apart at today's median. Based on 7 years of data.

Compared with the peak

Rent in ZIP 28405 is at its highest level since Zillow's records here began in August 2019.

Past year vs. the rest of North Carolina

Rent in ZIP 28405 changed +5.7% over the year to September 2026. Across the 190 North Carolina ZIP codes Zillow tracks, the typical change was +2.6%.

Since before the pandemic

Rent in ZIP 28405 is 47.7% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 4 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($70,274) is $1,757 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,710); a 3-bedroom is $2,240.

Rank in Wilmington

3rd cheapest of 6 ZIP codes in Wilmington.

From Zillow's monthly rent index (ZORI) for ZIP 28405. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$20,820/yr

At $1,735/mo median

Location

CityWilmington

StateNC

CountyNew Hanover County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 5.7% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+5.7% YoY, +1.1% MoM), not inventory.

Demographics

Who lives here

ZIP 28405 (Wilmington, NC) is majority owner-occupied, has a large retiree population, 41% of residents hold a bachelor's degree or higher.

Population

35,467

Median income

$70,274

Median age

Renters

42.4%

Age distribution

20.7%

24%

23.6%

20.1%

Under 1820.7%

18–3424%

35–5423.6%

55–6411.7%

65+20.1%

Gender

48.5%

51.5%

Male48.5%

Female51.5%

Race & ethnicity

71.2%

17.2%

White71.2%

Black17.2%

Hispanic9.1%

Asian1.4%

Other1.1%

Education (25+)

20.8%

30%

41%

No HS diploma8.2%

HS diploma20.8%

Some college30%

Bachelor's+41%

Housing tenure

57.6%

42.4%

Owner57.6%

Renter42.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 28405 in Wilmington, NC has changed in 5 years

Rent

$1,278 → $1,735

up 35.8%

Income

$59,062 → $70,274

up 19.0%

Population

34,044 → 35,467

up 4.2%

Renter share

42.2% → 42.4%

+0.2 pts

Bachelor's+

39.2% → 41%

+1.8 pts

Median age

39.3 → 38

-1.3 yrs

Five years ago, renters in ZIP 28405 in Wilmington, NC paid around $1,278 a month. That figure now sits near $1,735, up 35.8% from the 2021 baseline. Household income in the area moved from $59,062 to $70,274 across the same window, up 19.0% versus 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 28405 in Wilmington, NC adding about 1,423 residents over the five-year window, up 4.2% on net. Reading these numbers side by side helps frame whether current listings in ZIP 28405 in Wilmington, NC look reasonable against where the market sat half a decade ago.

Community

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Local insights

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About renting in ZIP 28405

Last updated: October 17, 2026

ZIP code 28405 covers Wilmington, NC. The median rent here is $1,735/mo as of October 2026. A 1-bedroom rents for a median of $1,560/mo. A 2-bedroom rents for a median of $1,710/mo.

At 30% of local median household income ($70,274/yr), ZIP 28405 ranks as moderate compared to the national benchmark of 30%. Rents have increased 5.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 28405?

To keep rent at or below 30% of gross income, you would need to earn at least $69,000/year (about $33/hour full-time) to afford the median rent of $1,735/mo in ZIP 28405. The local median household income is $70,274/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 28405?

Rent in ZIP 28405 has risen 5.7% over the past year as of September 2026. That is the highest level since Zillow's records here began in August 2019.

When is the cheapest time to rent in ZIP 28405?

Asking rents in ZIP 28405 are usually lowest in January, about 1.9% below their yearly trend, and highest in August, about 1.6% above it. At today's median that is a gap of roughly $61 a month. This pattern comes from 7 years of Zillow rent data.

How does ZIP 28405 compare to other ZIPs in North Carolina?

ZIP 28405 is in the middle among North Carolina ZIP codes for rent, ranking #89 of 230 at $1,735/mo. Over the year to September 2026, rent in ZIP 28405 changed +5.7%, against a typical +2.6% across the 190 North Carolina ZIP codes Zillow tracks.