How much is a home worth in ZIP code 28405?

The typical home in 28405 is worth $375,291, based on the Zillow Home Value Index.

Are home values rising in 28405?

Home values in 28405 are down 2.2% over the past year, and up 6.7% a year over five years.

What is the typical rent in 28405?

A typical home in 28405 rents for about $1,630 a month, a gross rental yield of 5.2%.

What is the property tax rate in 28405?

The effective property tax rate in 28405 is 0.6% — roughly $2,199 a year on a typical home.

ZIP code 28405 has a population of 35,467 and a median household income of $70,274.

HousingHandbookReference data

…

U.S. ZIP Code · NC28405

New Hanover County · Wilmington, NC

Typical home value

$375,291^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -2.2%
5-year / yr: +6.7%
10-year / yr: +7.1%

Relative price

vs U.S.: +32.1%
vs metro: -1.0%
vs state: +31.9%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 28405 is worth $375,291 — 1.0% below the Wilmington, NC median. Over the past year, values have fallen 2.2%. Homes here rent for a typical $1,630 a month — a 5.2% gross rental yield. The effective property tax rate is 0.6%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,630^[2]
Gross yield: 5.2%^[2]
Cap rate: 3.1%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.6%^[3]
Typical annual tax: $2,199^[3]

#Climate risk

FEMA National Risk Index ratings for New Hanover County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively Moderate
Coastal flood: Relatively High
Wildfire: Relatively Low
Drought: Very Low
Heat wave: Relatively Moderate
Hurricane: Very High
Tornado: Relatively High
Earthquake: Relatively Low
Winter weather: Relatively High

#Who lives here

Population: 35,467^[3]
Median household income: $70,274^[3]

#Migration

Household moves in and out of New Hanover County over a year, from IRS tax-return data.

Net migration: +1,277^[5]
Moved in: 9,383
Moved out: 8,106

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 9
Elementary: 4
Middle: 2
High: 3

Emsley A Laney High
High · Grades 9–12 · New Hanover County Schools
2,248 students
Emma B Trask Middle
Middle · Grades 6–8 · New Hanover County Schools
651 students
M C S Noble Middle
Middle · Grades 6–8 · New Hanover County Schools
647 students
John J Blair Elementary
Elementary · Grades PK–5 · New Hanover County Schools
455 students
Dr Hubert Eaton Sr Elem
Elementary · Grades K–5 · New Hanover County Schools
448 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield5.2%

Net yield (after ~40% expenses)3.1%

Annual rent$19,555

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,898

Loan principal$300,233

Down payment$75,058

Total interest paid$382,930

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.47

Monthly cost to own$2,395

Monthly rent$1,630

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 65th percentile^[1]
Rental yield: 47th percentile^[2]
Property tax: 69th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 28405?: The typical home in 28405 is worth $375,291, based on the Zillow Home Value Index.
Are home values rising in 28405?: Home values in 28405 are down 2.2% over the past year, and up 6.7% a year over five years.
What is the typical rent in 28405?: A typical home in 28405 rents for about $1,630 a month, a gross rental yield of 5.2%.
What is the property tax rate in 28405?: The effective property tax rate in 28405 is 0.6% — roughly $2,199 a year on a typical home.
Who lives in 28405?: ZIP code 28405 has a population of 35,467 and a median household income of $70,274.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

28457 vs 28405 →
Rocky Point CDP, NC
Typical home
$372,933
Gross yield
—
28451 vs 28405 →
Leland, NC
Typical home
$379,205
Gross yield
5.3%
28429
Skippers Corner CDP, NC
Typical home
$368,631
Gross yield
7.7%
28479
Leland, NC
Typical home
$365,984
Gross yield
—
28403
Wilmington, NC
Typical home
$395,000
Gross yield
5.1%
28412
Wilmington, NC
Typical home
$396,073
Gross yield
4.6%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 28405 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · NC28405

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