Lee & Assosciates 2025 Q3 Wilmington NC Multifamily

Market Overview

‍The Wilmington, NC multifamily market is gaining momentum heading into Q3 2025. Net absorption rose to approximately 3,861 units and vacancy improved to about 14.0 percent. Average asking rent ticked down slightly to around $1,468 per unit, while average sale price per unit fell to roughly $171,601 and cap rates held at about 6.39 percent. Supply remains moderate with under-construction units near 1,485.

‍About Lee & Associates

‍Lee & Associates is a full-service commercial real estate advisory firm operating across the U.S. Their Wilmington multifamily market report combines detailed data on absorption, vacancy, rents, sales and development activity to help owners, developers and investors evaluate strategic positioning and timing. To read the full report, click here.