HomeNorth CarolinaNew Hanover County
New Hanover County, North Carolina: commercial real estate data.
New Hanover County, North Carolina has a population of 235,229 across 192 square miles, up 7.8 percent since the 2020 census base. 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.
129 sourced county values · tier FULL · 12 sections
New Hanover County
How many people live in New Hanover County
- Population235,229
- 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-equivalents300th
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 a stretched ownership market and usually shows up as rental demand. 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 storey product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
New Hanover County
Is New Hanover County growing
- Population change since the 2020 census base7.81 percent
- Census 2020 base population225,704
- 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
The county has grown 7.81 percent since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone 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 people moving to New Hanover County come from
- Tax returns filed by households arriving9,304
- People arriving, from those returns14,604
- Adjusted gross income arriving$806.8 m
- Net adjusted gross income movement$0
- Average income of an arriving household$86,710
- Largest single originNew Hanover County Non-migrants (85,214 households)
- Largest single destination (85,214 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| New Hanover County Non-migrants | 85,214 | 158,824 | $9.42 bn |
| Other flows - Different State | 3,242 | 5,225 | $297.4 m |
| Other flows - South | 1,383 | 2,242 | $125.9 m |
| Other flows - Northeast | 791 | 1,230 | $70.5 m |
| Wake County | 698 | 1,065 | $78.0 m |
| Brunswick County | 650 | 1,043 | $42.8 m |
| Other flows - Midwest | 571 | 935 | $47.6 m |
| Other flows - West | 497 | 818 | $53.4 m |
The largest single source of arrivals is New Hanover County Non-migrants, 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 the New Hanover County economy runs on
- 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 North Carolina counties8th
- Rank by GDP among US county-equivalents247th
- 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
Who employs people in New Hanover County
- Covered employment, annual average130,464
- Establishments reporting11,216
- Average annual pay$61,611
- Average weekly wage$1,185
- Sector 62, employment22,549
- Sector 62, average annual pay$68,780
- Sector 72, employment17,416
- Sector 72, average annual pay$25,213
- Sector 44-45, employment15,898
- Sector 44-45, average annual pay$40,344
- Sector 54, employment10,282
- Sector 54, average annual pay$100,748
- Sector 23, employment9,886
- Sector 56, employment7,608
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 22,549 | 1,117 | $68,780 |
| Sector 72 | 17,416 | 920 | $25,213 |
| Sector 44-45 | 15,898 | 1,143 | $40,344 |
| Sector 54 | 10,282 | 1,951 | $100,748 |
| Sector 23 | 9,886 | 1,157 | $69,876 |
| Sector 56 | 7,608 | 761 | $50,412 |
| Sector 31-33 | 6,089 | 252 | $88,233 |
| Sector 81 | 4,574 | 886 | $42,545 |
The largest sector is the biggest private employer group at 22,549 jobs, 17.3 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
New Hanover County
What businesses operate 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.
US Census Bureau, County Business Patterns, 2023.
New Hanover County
What is being built in New Hanover County
- Housing units authorised by permit, 20242,581
- Declared construction value permitted$611.0 m
- Single family units authorised1,296
- Multifamily units authorised1,285
- Multifamily share of units49.8 percent
- Average declared value per unit$236,721
- Units authorised per 1,000 households24.6
Multifamily is 49.8 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
New Hanover County
How much SBA lending happens in New Hanover County
- 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$2,085,500
- 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$472,000
- Distinct CDCs active7
- 504 jobs per approval10.1
- 504 jobs per million dollars approved10.6
- Most active CDCBusiness Expansion Funding Corporation (47)
- 7(a) share of SBA approvals84.7 percent
- Combined SBA approval dollars$326.8 m
The average approval of $720,976 sits well above the median of $350,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually 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
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.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
New Hanover County
Which parts of New Hanover County get the lending
- Places in the county with recorded lending6
- WILMINGTON, approvals335
- Carolina Beach, approvals17
- CASTLE HAYNE, approvals10
- Kure Beach, approvals2
- WEST FRIENDSHIP, approvals1
- WRIGHTSVILLE BEACH, approvals1
| Place | 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 big 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
What hazards affect New Hanover County
- EPA radon zone predicted average indoor radon screening level less than 2 pCi/LZone 3
- Communities 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
The EPA places the county in radon zone 3, a predicted average indoor radon screening level less than 2 pCi/L. The best Community Rating System class in the county is 6, which carries a flood insurance premium discount for properties in the participating community.
US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001. FEMA OpenFEMA, NFIP Community Status Book, Community Status Book, as retrieved.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
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.
- Population235,229
- 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?
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 growing?
The population has grown 7.81 percent since the 2020 census base. 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 there 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 the average wage in New Hanover County?
Average annual pay is $61,611, or $1,185 a week, across 130,464 covered jobs. 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 totalling $263.9 m since FY2020, across 71 lenders, with a median approval of $350,000, plus 66 504 approvals worth $63.0 m. 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.
What is being built in New Hanover County?
2,581 housing units were authorised 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 New Hanover County Non-migrants, with 85,214 households. Arriving households report an average income of $86,710 against null 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?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.