Greater Wilmington Rental Market Update

The rental market within the New Hanover & Brunswick County areas continues to thrive with a majority of the majority of the demand being updated single family homes. Overall, 3 bedroom, 2 bath homes priced within the $1,000 and $1,400 range our the most popular housing type where we have seen a lull in the demand for condominiums or townhomes over the last year. We are fortunate to have many factors that will nurture our local rental market for years to come. Job development, retirees, thriving colleges, and young professionals are just a few of the factors that contribute to our healthy and stable rental market. Challenges within our rental market are mainly fueled by seasonal lulls and inventory levels. History has proven that properties listed for rent during the late fall and winter season tend to have longer market times and rent for less than homes listed for rent during the spring and summer months.
– Michael Stroud, Property Manager, Realty World Cape Fear