Apartments in 28405

Wilmington:
May Rent Report

Welcome to the May 2025 Wilmington Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2025 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.

May Prices: Wilmington vs. Surrounding Areas

Rent Prices in Wilmington and Surrounding Areas

Rent prices have increased 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 1 of the Wilmington suburb increased last month. On the other hand, 2 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

• Rent increased in Carolina Beach, NC .

• Rent decreased in Leland, NC, Oak Island, NC.

• 3 suburbs are currently priced higher than the city of Wilmington.

Data set for Wilmington and suburbs

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.