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Real Estate Prices & Overview

Downtown Wilmington median real estate price is $726,776, which is more expensive than 88.1% of the neighborhoods in North Carolina and 78.1% of the neighborhoods in the U.S.

The average rental price in Downtown Wilmington is currently $2,670, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 85.9% of the neighborhoods in North Carolina.

Downtown Wilmington is a suburban neighborhood (based on population density) located in Wilmington, North Carolina.

Downtown Wilmington real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Downtown Wilmington neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 2000 and the present.

Vacant apartments or homes are a major fact of life in Downtown Wilmington. The current real estate vacancy rate here is 23.2%. This is higher than the rate of vacancies in 90.4% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (11.7%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Wilmington, the Downtown Wilmington neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

One of the most interesting things about the Downtown Wilmington neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 61.9% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.1% of the neighborhoods in America.

Modes of Transportation

A unique way of commuting is simply not to. And in the Downtown Wilmington neighborhood, analysis shows that 29.7% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 96.7% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

Real Estate

The Downtown Wilmington neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 86.1% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Diversity

Did you know that the Downtown Wilmington neighborhood has more Yugoslav and Scots-Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have Yugoslav ancestry and 5.6% have Scots-Irish ancestry.

Downtown Wilmington is also pretty special linguistically. Significantly, 2.6% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Downtown Wilmington neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.1% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Downtown Wilmington neighborhood in Wilmington are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 67.4% of U.S. neighborhoods. In addition, 8.6% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 54.4% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Downtown Wilmington neighborhood, 64.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 23.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.5%), and 4.1% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Downtown Wilmington neighborhood is English, spoken by 93.2% of households. Other important languages spoken here include Italian, Spanish and Greek.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Downtown Wilmington neighborhood in Wilmington, NC, residents most commonly identify their ethnicity or ancestry as German (17.9%). There are also a number of people of Irish ancestry (15.1%), and residents who report English roots (10.4%), and some of the residents are also of Italian ancestry (7.1%), along with some Scots-Irish ancestry residents (5.6%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Downtown Wilmington neighborhood spend between 15 and 30 minutes commuting one-way to work (44.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (56.8%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (6.9%) and 6.2% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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