ZIP 28405

28405 is one of 10 ZIP codes that lie mostly in New Hanover County, NC.

Shaded by typical home value, it ranks 8 of the 10 with a value.

9 school locations in 28405: 4 elementary, 2 middle, 3 high.

In alphabetical order: A H Snipes Academy of Arts/Des, Career Readiness Academy at Mosley PLC, Dr Hubert Eaton Sr Elem, Emma B Trask Middle, and more on the ZIP page. Locations only — no ratings are shown here.

In May 2003 the typical home in 28405 was worth $157,800.

Values peaked at $382,885 in February 2025. The latest reading is −2.0% from that peak.

As of August 2026: $375,126, −0.1% over twelve months.

Start with the typical home: $375,126. Put 20% down and borrow $300,101 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $2,078 a month in principal and interest.

The median household here earns $67,809 a year, $5,651 a month. So the payment takes 36.8% of income — rated “severe” (Lotvox ZIP bands: under 28% affordable · 28–36% stretched · 36%+ severe).

The line holds today's rate fixed and moves only the price: at that rate, the same share was 15.5% in 2003.

Take the typical home's price each month, borrow 80% at that month's actual 30-year average rate: in May 2003 (5.48%) the payment was $716.

In December 2020, with rates at 2.68%, it was $830.

By August 2026, at 6.67%, it was $1,930 — +133% since December 2020, while the home's value moved +46%.

Reported values rose +138% since May 2003.

General prices (CPI-U) rose +83% over the same span.

Divide one by the other: in August 2026 dollars, the 2003 home was worth $288,277. So the real change is +30%, not +138%.

28405: +138% since May 2003.

New Hanover County: +146% since May 2003.

North Carolina: +133% since May 2003 — 28405 ran ahead of it by 5 points.

Owning the typical home costs about $2,453 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $1,738 a month.

Price divided by a year's rent: 18.0. Lotvox reads under 15 as favoring buying and 20 or more as favoring renting.

Picture the Listings Flow Ladder as a basin: new listings pour in from the faucet, the homes for sale are the water, and closed sales run out the drain. Coming in — new listings: about 51 a month (Redfin, 3-month rolling data through August 2026). That is 72% of the 2015–2019 level for the same months.

On the shelf — homes for sale at the end of the period: 149. That is 59% of the 2015–2019 level for the same months.

Going out — closed sales: about 45 a month. That is 75% of the 2015–2019 level for the same months.

The ladder: homes for sale ÷ monthly sales = 3.3 months of supply — below the 4–6 month range Lotvox treats as balanced. In the basin, that is the water level against the shaded balanced band.

The net reading: about 6 more homes came on than sold each month, so inventory is growing. The basin is filling.

Homes sold: about 45 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 54 — so sales ran at 83% of it, and below it in 24 of the last 24 months.

Across New Hanover County, builders pulled permits for 2,332 new homes in 2025.

Of those, 52% were in 1-unit buildings (the Census Bureau's category for detached and attached single homes).

This ZIP sits in New Hanover County. IRS tax returns for 2022-2023: among the ten counties sending the most households, 3,008 moved in. Among the ten receiving the most, 3,672 moved out.

Net across those counties: −664 households. Beside it, homes for sale in this ZIP: 149 in June 2026.

Most arrivals came from Brunswick, NC (750 households); most departures went to Brunswick, NC (1,286).