HomeNorth CarolinaNew Hanover County
New Hanover County, North Carolina: commercial real estate data.
New Hanover County, North Carolina had an estimated 243,333 residents on July 1, 2024, up 7.8 percent since the 2020 census base of 225,704, across 192 square miles. County output reached $21.04 bn in 2024, 8,710 establishments operate here, and the SBA record carries 366 7(a) approvals worth $263.9 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
New Hanover County
How many people live in New Hanover County
- Population, American Community Survey 2020-2024235,229
- Households104,856
- Average household size2.24
- Median household income$75,166
- Median age39.9
- Median gross rent$1,417 per month
- Median owner-occupied home value$387,800
- Home value to household income5.2 times
- Annual rent as a share of median income22.6 percent
- Adults 25 and over with a bachelor degree or higher45.4 percent
- Adults 25 and over with a graduate degree16.0 percent
- Adults 25 and over164,254
- Population under 1842,122
- Share under 1817.9 percent
- Population 65 and over44,810
- Share 65 and over19.0 percent
- Working age population, 18 to 64148,297
- Civilian labor force129,455
- Unemployment rate4.5 percent
- Labor force participation, adults 18 and over67.0 percent
- Rank by population among North Carolina counties10th of 100
- Rank by population among US county-equivalents, Puerto Rico included300th of 3,222
New Hanover County is the 10th largest of 100 North Carolina counties by population. A median home costs 5.2 times median household income, which is severely unaffordable by national standards. Residents 65 and over outnumber those under 18, at 19.0 percent against 17.9 percent, which points demand at health care, services and single story product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
New Hanover County
Is New Hanover County's population growing?
- Population, July 1, 2024243,333
- Census 2020 base population225,704
- Population change since the 2020 census base7.81 percent
- Population change, 2023 to 20243,279
- Births, 20242,268
- Deaths, 20242,385
- Natural change, 2024-117
- Net domestic migration, 20242,438
- Net international migration, 2024936
- Total net migration, 20243,374
- Cumulative net domestic migration, 2021 to 202414,897
- Rank by growth among US county-equivalents253rd of 3,144
The county has grown 7.81 percent since the 2020 census base. Deaths exceeded births in 2024 and the population still grew, so all of the growth came from people moving in. A market held up by migration is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
New Hanover County
Where are people moving to New Hanover County from?
- Tax returns filed by households arriving9,304
- People arriving, from those returns14,604
- Tax returns filed by households leaving7,769
- Net household movement1,535
- Adjusted gross income arriving$806.8 m
- Net adjusted gross income movement$228.4 m
- Average income of an arriving household$86,710
- Average income of a leaving household$74,439
- Largest single originWake County (698 households)
- Largest single destinationBrunswick County (1,182 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Wake County | 698 | 1,065 | $78.0 m |
| Brunswick County | 650 | 1,043 | $42.8 m |
| Pender County | 464 | 811 | $26.9 m |
| Mecklenburg County | 277 | 401 | $24.7 m |
| Onslow County | 258 | 390 | $13.5 m |
| Guilford County | 144 | 213 | $16.2 m |
| Durham County | 118 | 176 | $14.2 m |
| Cumberland County | 107 | 171 | $7.4 m |
Households arriving report $12,271 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Wake County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
New Hanover County
What is the New Hanover County economy?
- County GDP, 2024$21.04 bn
- County GDP, 2023$19.86 bn
- GDP change, 2023 to 20245.9 percent
- GDP change over five years44.6 percent
- Rank by GDP among the North Carolina areas BEA publishes8th of 100
- Rank by GDP among the US county areas BEA publishes247th of 3,127
- GDP per resident$89,450
Output grew 5.9 percent in the latest year and 44.6 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
New Hanover County
Employment by industry in New Hanover County
- Covered employment, annual average130,464
- Establishments reporting11,216
- Average annual pay$61,611
- Average weekly wage$1,185
- Health care and social assistance, employment22,549
- Health care and social assistance, average annual pay$68,780
- Accommodation and food services, employment17,416
- Accommodation and food services, average annual pay$25,213
- Retail trade, employment15,898
- Retail trade, average annual pay$40,344
- Professional, scientific and technical services, employment10,282
- Professional, scientific and technical services, average annual pay$100,748
- Construction, employment9,886
- Administrative and support and waste management services, employment7,608
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 22,549 | 1,117 | $68,780 |
| Accommodation and food services | 17,416 | 920 | $25,213 |
| Retail trade | 15,898 | 1,143 | $40,344 |
| Professional, scientific and technical services | 10,282 | 1,951 | $100,748 |
| Construction | 9,886 | 1,157 | $69,876 |
| Administrative and support and waste management services | 7,608 | 761 | $50,412 |
| Manufacturing | 6,089 | 252 | $88,233 |
| Other services, except public administration | 4,574 | 886 | $42,545 |
Health care and social assistance is the largest private sector at 22,549 jobs, 17.3 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
New Hanover County
How many businesses are in New Hanover County?
- Establishments, all industries8,710
- Employment at those establishments121,389
- Annual payroll$7.15 bn
- Establishments per 1,000 residents37.0
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
New Hanover County
Building permits in New Hanover County
- Housing units authorized by permit, 20242,581
- Declared construction value permitted$611.0 m
- Single family units authorized1,296
- Multifamily units authorized1,285
- Multifamily share of units49.8 percent
- Average declared value per unit$236,721
- Units authorized per 1,000 households24.6
Multifamily is 49.8 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
New Hanover County
SBA loans in New Hanover County (7(a) and 504)
- 7(a) approvals recorded366
- 7(a) gross approval dollars$263.9 m
- Average 7(a) approval$720,976
- Median 7(a) approval$350,000
- 10th percentile approval$35,000
- 90th percentile approval$2,055,250
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)4,762
- Jobs per approval13.0
- Distinct 7(a) lenders active71
- Distinct industries receiving approvals152
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer21.3 percent
- Loans on real estate terms78
- Loans on working capital terms, 120 months or shorter260
- Franchise loans62
- Franchise share of approvals16.9 percent
- Leading industry by approval countFull-Service Restaurants (23)
- Most active lenderLive Oak Banking Company (67)
- 504 approvals recorded66
- 504 gross approval dollars$63.0 m
- Average 504 approval$954,000
- Median 504 approval$463,000
- Distinct CDCs active7
- 504 jobs per approval10.1
- 504 jobs per million dollars approved10.6
- Most active CDCBusiness Expansion Funding Corporation (47)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$326.8 m
The average approval of $720,976 sits well above the median of $350,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 21.3 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
New Hanover County
SBA loan default and charge-off rates in New Hanover County
Do SBA loans in New Hanover County get paid back?
- Loans with a final outcome recorded67
- Paid in full65
- Charged off2
- Charge-off rate on resolved loans3.0 percent
- Status: Paid in full65
- Status: Charged off2
- Status: Exempt from disclosure250
- Status: Cancelled35
- Status: Committed, not yet disbursed14
Of the 67 loans that have reached a final outcome, 3.0 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
New Hanover County
SBA lending by place in New Hanover County
- Borrower cities with recorded lending6
- Wilmington, approvals335
- Carolina Beach, approvals17
- Castle Hayne, approvals10
- Kure Beach, approvals2
- West Friendship, approvals1
- Wrightsville Beach, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Wilmington | 335 | $230,786,500 |
| Carolina Beach | 17 | $16,127,500 |
| Castle Hayne | 10 | $11,180,000 |
| Kure Beach | 2 | $2,958,200 |
| West Friendship | 1 | $2,425,000 |
| Wrightsville Beach | 1 | $400,000 |
Wilmington accounts for 335 approvals against 17 in Carolina Beach. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
New Hanover County
How large is New Hanover County?
- Land area192 sq mi
- Rank by land area among North Carolina counties99th of 100
- Width, east to west18 mi
- Height, north to south31.8 mi
- Geographies sharing a boundary2
- Residents per square mile of land1,225
- Establishments per square mile45.36
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
New Hanover County
Flood risk in New Hanover County
- Participation of the county's own NFIP community New Hanover County, unincorporated areasParticipating, community 370168
- Community Rating System class of the county's own communityClass 7
- Communities in the county in the NFIP Community Status Book5
- Of those, participating in the NFIP5
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 6
- Communities carrying a CRS class4
- Radon levels in New Hanover County, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
The county's own community in the status book, unincorporated New Hanover County (community 370168), participates in the National Flood Insurance Program and carries Community Rating System class 7, a flood insurance premium discount for policies written there. The EPA places New Hanover County in radon zone 3, a predicted average indoor radon screening level less than 2 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 6, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a New Hanover County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a New Hanover County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024235,229
- Households104,856
- Average household size2.24
- Median household income$75,166
- Median age39.9
Common questions
New Hanover County questions, answered from the record.
How many people live in New Hanover County, North Carolina?
The Census Bureau estimates 243,333 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 235,229, in 104,856 households, ranking 10th of 100 North Carolina counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is New Hanover County's population growing?
The population has grown 7.81 percent since the 2020 census base of 225,704, to 243,333 on July 1, 2024. In 2024 there were 2,268 births against 2,385 deaths, with net migration of 3,374. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in New Hanover County?
$75,166. The median owner-occupied home is valued at $387,800, which is 5.2 times income, and median gross rent is $1,417 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in New Hanover County?
8,710 establishments, employing 121,389 people with an annual payroll of $7.15 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in New Hanover County?
Health care and social assistance is the largest private sector at 22,549 jobs, 17.3 percent of covered employment. Covered employment averages 130,464 jobs at an average annual pay of $61,611, or $1,185 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in New Hanover County?
366 7(a) approvals totaling $263.9 m since FY2020, across 71 lenders, with a median approval of $350,000, plus 66 504 approvals worth $63.0 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in New Hanover County get paid back?
Of the 67 loans that have reached a final outcome, 65 were paid in full and 2 charged off, a charge-off rate of 3.0 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in New Hanover County?
2,581 housing units were authorized by permit in 2024, with a declared construction value of $611.0 m. Multifamily was 49.8 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for New Hanover County?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to New Hanover County come from?
The largest single origin is Wake County, with 698 households. Arriving households report an average income of $86,710 against $74,439 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for New Hanover County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for New Hanover County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
New Hanover County
Cities and places in New Hanover.
18 Census places lie wholly or partly in New Hanover County. All 18 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Wilmington | city | 120,805 | 335 | Wholly in this county |
| Murraysville | CDP | 16,339 | None recorded | Wholly in this county |
| Myrtle Grove | CDP | 12,637 | None recorded | Wholly in this county |
| Kings Grant | CDP | 9,003 | None recorded | Wholly in this county |
| Ogden | CDP | 8,249 | None recorded | Wholly in this county |
| Porters Neck | CDP | 7,654 | None recorded | Wholly in this county |
| Carolina Beach | town | 6,745 | 17 | Wholly in this county |
| Silver Lake | CDP | 6,563 | None recorded | Wholly in this county |
| Wrightsboro | CDP | 6,287 | None recorded | Wholly in this county |
| Northchase | CDP | 5,896 | None recorded | Wholly in this county |
| Skippers Corner | CDP | 3,792 | None recorded | Wholly in this county |
| Bayshore | CDP | 2,949 | None recorded | Wholly in this county |
| Wrightsville Beach | town | 2,665 | 1 | Wholly in this county |
| Kure Beach | town | 2,466 | 2 | Wholly in this county |
| Sea Breeze | CDP | 1,849 | None recorded | Wholly in this county |
| Castle Hayne | CDP | 897 | 10 | Wholly in this county |
| Hightsville | CDP | 397 | None recorded | Wholly in this county |
| Blue Clay Farms | CDP | 94 | None recorded | Wholly in this county |
A further 1 of the county's 366 SBA 7(a) approvals are to borrowers in cities that match no Census place in New Hanover County, the largest being West Friendship (1). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.