Last updated
Average Rent in Wilmington 28405 & Rent Trends
Rent prices and market trends across 2 apartment communities in Wilmington 28405, Wilmington, NC. Updated daily.
Market Average
$1,232/mo
Lowest Available
$1,028/mo
cheapest unit on market
Communities
2
tracked daily
Units Listed
31
available now
Wilmington 28405 vs Wilmington, NC Average
Wilmington 28405 is cheaper the Wilmington, NC average by $206/mo (14%). The citywide average is $1,438/mo across all neighborhoods.
Is Rent Going Up or Down in Wilmington 28405?
As of June 2026, the average rent in Wilmington 28405 is $1,232 per month across 2 apartment communities and 31 available units.
The most affordable option is Flats at Market Street starting at $1,028/mo. By unit type, a studio averages $1,063/mo, a 1-bedroom averages $1,099/mo, a 2-bedroom averages $1,344/mo, a 3-bedroom averages $1,833/mo.
Prices range from $1,028 to $1,858 per month. The most common price point is the $1,000 range, where 16 units are currently listed.
Average Rent by Bedroom
Rent Price Distribution
Rent by Bedroom Type in Wilmington 28405
Rent Prices by Apartment in Wilmington 28405
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Flats at Market Street | $1,028/mo | $1,063/mo | 15 | 3.9 |
| Deerbrook | $1,099/mo | $1,390/mo | 16 | 4.7 |
Google Search Trends for Wilmington 28405 Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Frequently Asked Questions About Rent in Wilmington 28405
What is the average rent in Wilmington 28405?
Is rent going up or down in Wilmington 28405?
What is the cheapest apartment in Wilmington 28405?
How much is a 1-bedroom apartment in Wilmington 28405?
How many apartments are available in Wilmington 28405?
What salary do I need to live comfortably in Wilmington 28405?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$49,000/year
Based on the 30 percent rule, using our tracked average rent of $1,232/mo.
Comfortable income
$59,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,028/mo), you need to earn at least $41,000/year.
Median household income in Wilmington 28405 is $63,900 , about 8% above the comfortable-living threshold.
Cost of living in Wilmington 28405
Overall prices in Wilmington 28405 runs below the national average by about 5% (BEA Regional Price Parity index 95.4, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Wilmington 28405's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $1,232 |
| Utilities | $378 |
| Groceries | $523 |
| Transportation | $900 |
| Healthcare | $439 |
| Other goods and services | $703 |
| Estimated total | $4,174/mo |
Population
118,578
Median household income
$63,900
Census median rent
$1,311/mo
Rent as % of income
32.1%
Median age
37.5
Mean commute
19 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Explore Wilmington 28405 Apartments
Browse all 2 communities with daily-updated pricing and availability.