Apartments in Downtown Wilmington

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Downtown

A Wilmington Neighborhood

Summary

Wilmington’s historic downtown has everything you’re hoping to find in a quaint Southern town: moss-draped trees and wrought-iron gates, brick-paved streets, water fountains, and buildings with aged original stone walls. The mile-long riverwalk offers incredible views of the Cape Fear River, lighted, landscaped, and lined with wooden planks. And you can view all of this Southern splendor during a horse-drawn trolley tour. Downtown is the center of the city’s culture, so this is where you’ll find most of the city’s waterfront restaurants, bars, and shops, such as the stores in the renovated-but-historic eight buildings of the Cotton Exchange. Considering the waterfront access of this port city, with a short drive to three beaches, downtown Wilmington rent is on the low end, though a bit higher than other Wilmington neighborhoods.

Budget

If you're not sure how much an apartment will cost, the table below shows the average price by size.

$1,795
Studio
$1,077
1 Bedroom
$1,449
2 Bedrooms
$1,813
3 Bedrooms
$2,796
4 Bedrooms
$3,100
5+ Bedrooms
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Wilmington:
October Rent Report

Welcome to the October 2022 Wilmington Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the October 2022 key findings and figures for the Wilmington rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Wilmington and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Wilmington average rent prices in the chart below.

Monthly Rent Report

Wilmington Rent Prices Decrease From September to October

Wilmington rent prices decreased over the last month. From September to October, the city experienced a 0.0% decrease for the price of a one-bedroom apartment. The rent price for a Wilmington one-bedroom apartments currently stands at $1,041.0.

When we take a look at the two-bedroom comparison from September to October, Wilmington experienced a -0.52% decrease for the price of a two-bedroom apartment. The rent price for a Wilmington two-bedroom apartments currently stands at $1,330.0.

October Prices: Wilmington vs. Surrounding Areas

Rent Prices in Wilmington and Surrounding Areas

Rent prices have decreased in Wilmington over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Wilmington suburbs increased last month. On the other hand, 1 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rents did not increase in any of the Wilmington suburbs

  • Rent decreased in Leland, NC.

  • 1 suburb is currently priced higher than the city of Wilmington.

October 2022 Pricing Trends: Wilmington vs. National Comparisons

Wilmington Rent Prices More Affordable Than Major Cities

Rent growth in Wilmington over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Wilmington average rent prices appear to be relatively affordable for local residents.

The price for a Wilmington one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

You can view the full rundown of Rentable's October 2022 National Apartment Report and data set here.

For more information about Wilmington and surrounding area rent prices, take a look at the complete data set below.

Data set for Wilmington and suburbs

1 BR October 1 BR M/M % Change 2 BR October 2 BR M/M % Change
Wilmington, NC $1,041.0 0.00% $1,337.0 -0.52%
Leland, NC $1,125.0 0.00% $1,338.0 0.22%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.