Total monthly cost of ownership
Cost to Own a Home in Wilmington, North Carolina
A $350,000 home here costs
$2,632per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,799. The real number is $832 higher every month — 46% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Wilmington against New Hanover County and North Carolina
| Measure | Wilmington | New Hanover County |
|---|---|---|
| Median home value | $350,300 | $353,700 |
| Median property tax | $2,521 | $2,075 |
| Effective tax rate | 0.720% | 0.587% |
| Median gross rent | $1,311 | $1,343 |
| Population | 118,578 | 231,214 |
The weather behind that power bill
Wilmington sits in New Hanover County, which averages a high of 90.1°F in its hottest month and a low of 36.1°F in its coldest, with 65.09" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 2,131 cooling and 2,431 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for New Hanover County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in New Hanover County
Full New Hanover County cost breakdown · Every county in North Carolina
Common questions
How much does it cost to own a home in Wilmington?
A $350,000 home in Wilmington, North Carolina costs approximately $2,632 per month with 20% down at 6.66%. That is $1,799 principal and interest, $210 property tax, $127 homeowners insurance, $204 utilities and $292 set aside for maintenance.
What is the property tax rate in Wilmington?
Wilmington has an effective property tax rate of 0.720%, based on a median home value of $350,300 and median real estate taxes of $2,521. That is higher than the New Hanover County average of 0.587%.
What is the average home price in Wilmington?
The median owner-occupied home value in Wilmington, North Carolina is $350,300, against $353,700 across New Hanover County.
Is it cheaper to rent or buy in Wilmington?
Median gross rent in Wilmington is $1,311 a month, against $2,632 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Wilmington — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for North Carolina.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.