The story of this market
The typical home in ZIP 28478 sells for about $220,000, or $185 per square foot.
Prices are down 27.5% from a year ago, which gives buyers more room to negotiate. Homes take about 69 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $718 a month.
ZIP 28478 — Watha
The 28478 housing market is currently experiencing a correction, with median prices declining year-over-year as inventory remains tight. The market is characterized by rural, lower-priced properties that appeal to budget-conscious buyers, though high interest rates and economic uncertainty have tempered demand. Overall, the market remains balanced but cautious as it adjusts to broader regional economic shifts.
This ZIP is best suited for buyers seeking rural affordability, space, and a slower pace of life, while remaining within commuting distance of the Wilmington metro area.
Median prices moved down 27.5% year over year.
Homes spend a median of 69 days on market with 3.7 months of supply — a balanced-paced market.
0% of listings have cut prices · homes sell at 98% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.0% · poverty 14.1% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 28478, Pender County NC
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Schools in the area are primarily served by Pender County Schools, which generally maintain moderate performance ratings consistent with rural North Carolina districts.
The area is subject to hurricane and tropical storm risks common to the North Carolina coast, necessitating flood insurance for many properties.
Economic momentum is driven by agricultural roots and proximity to the Wilmington metro area, with limited large-scale industrial development within the ZIP itself.
Property taxes are assessed by Pender County based on the most recent county-wide revaluation, with additional levies for local school and fire districts.
Residents primarily rely on personal vehicles for commutes, with travel times to Wilmington employment centers typically ranging from 30 to 45 minutes via I-40.
Recreational opportunities are largely rural, featuring access to local parks, nearby game lands, and proximity to the Cape Fear River for outdoor activities.
The rental market is characterized by low density and limited inventory, with demand primarily driven by local workforce needs and rural housing seekers.
The local economy is anchored by agriculture, forestry, and small-scale retail, with many residents commuting to the broader Wilmington metropolitan area for employment.
Transportation is heavily dependent on private vehicles, with I-40 serving as the primary artery connecting the area to Wilmington and Raleigh.
Development is primarily focused on low-density residential expansion and agricultural land preservation.
Pender County utilizes a cyclical revaluation process to assess property values for tax purposes.
Parcels are subject to Pender County property taxes, with specific levies for school districts and local volunteer fire departments.
Property insurance premiums are elevated due to the region's susceptibility to coastal storm events and wind damage.
North Carolina is a judicial foreclosure state, requiring court intervention for the foreclosure process.
North Carolina requires sellers to provide a Residential Property and Owners' Association Disclosure Statement to buyers.
Data retrieved from data.census.gov for ZCTA 28478.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Mad Boar Restaurant & Pub4.29.3 mi
- Duplin Winery4.912.7 mi
- River Landing Clubhouse4.79.5 mi
- Duplin Winery4.912.7 mi
- World's Largest Frying Pan412.5 mi
- Wallace Town Recreation Department4.26.5 mi
- River Landing4.39.6 mi
- Wells Livestock Market of Wallace4.28.1 mi
- Clear Run Farms4.510 mi
- Wilmington International Airport4.327.3 mi
- Albert J Ellis Airport4.227.7 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Large protected area offering hunting, hiking, and wildlife observation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.