Pink Hill is home to the best residential real estate investment market in North Carolina.
The 28572 zip code in Pink Hill presents the greatest opportunity for the best real estate investments among the 4,336 individual real estate markets in North Carolina we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.
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Data sources
Most of the data in this article comes from the Zillow Home Value Index and the U.S. Census American Community Survey.
We update our data when the original sources update their data, usually monthly. Sometimes we'll update data more frequently.
Clever also performs regular quality checks to identify outdated data, broken data connections, and other data issues that may arise.
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5 best places to invest in North Carolina
| Rank | City | InvestScore | Affordability | Property value appreciation |
|---|---|---|---|---|
| 1 | Pink Hill | 100 | 2.9 | 47% |
| 2 | Kinston | 92.2 | 2.6 | 69% |
| 3 | Wallace | 91.4 | 3.2 | 50% |
| 4 | Millers Creek | 91.1 | 3.5 | 45% |
| 5 | Parkton | 90.9 | 3.8 | 50% |
🚨 This article is for informational purposes only. It isn't intended to convey financial or legal advice. We recommend you talk to a real estate agent or real estate attorney when buying a home in North Carolina.
1. Pink Hill
We've identified the 28572 zip code in Pink Hill as North Carolina's best real estate investment market. Here's why.
🔎 Key data about Pink Hill (28572)
| Data point | Value | Rank in state (of 4,336 markets) |
|---|---|---|
| InvestScore | 100 | Highest |
| Typical property value | $160,117[1] | 37th lowest |
| Five-year appreciation | 47%[2] | 84th highest |
| Household income | $55,660[3] | 339th highest |
| Affordability ratio | 2.9 | 23rd most affordable |
| Five-year population growth | 9.5%[4] | 17th highest |
| Unemployment rate | 3.6%[5] | 8th lowest |
| Property taxes | $870[6] | 15th lowest |
| Educational attainment | 14%[7] | 257th highest |
Pink Hill (zip code 28572) is the best residential real estate investment market in North Carolina. It has the 84th highest property value appreciation among markets we evaluated, with a 47% appreciation of the typical property over the last five years.
Pink Hill is the 23rd most affordable market among the 4,336 North Carolina markets we evaluated, with an affordability ratio of 2.9.
2. Kinston
The 28501 zip code in Kinston is the runner-up spot for the best real estate investments in North Carolina.
🔎 Key data about Kinston (28501)
| Data point | Value | Rank in state (of 4,336 markets) |
|---|---|---|
| InvestScore | 92.2 | 2nd highest |
| Typical property value | $90,824[1] | 3rd lowest |
| Five-year appreciation | 69%[2] | highest |
| Household income | $35,118[3] | 422nd highest |
| Affordability ratio | 2.6 | 13th most affordable |
| Five-year population growth | -2.6%[4] | 371st highest |
| Unemployment rate | 2%[5] | lowest |
| Property taxes | $775[6] | 6th lowest |
| Educational attainment | 13%[7] | 266th highest |
The 28501 zip code in Kinston features a typical property value of $90,824, the 3rd lowest in the state.
Property values have appreciated 69% over the past five years, the highest increase among evaluated markets in the state. Kinston homes have an affordability ratio of 2.6, the 13th most affordable in the state.
3. Wallace
The 28466 zip code in Wallace comes in at No. 3 in our ranking of the best residential real estate investment markets in North Carolina.
🔎 Key data about Wallace (28466)
| Data point | Value | Rank in state (of 4,336 markets) |
|---|---|---|
| InvestScore | 91.4 | 3rd highest |
| Typical property value | $207,013[1] | 72nd lowest |
| Five-year appreciation | 50%[2] | 43rd highest |
| Household income | $65,558[3] | 247th highest |
| Affordability ratio | 3.2 | 34th most affordable |
| Five-year population growth | 1.7%[4] | 190th highest |
| Unemployment rate | 3.4%[5] | 6th lowest |
| Property taxes | $1,479[6] | 159th lowest |
| Educational attainment | 23%[7] | 190th highest |
With a typical property value of $207,013, Wallace's 28466 zip code features the 72nd lowest property values in the state.
Wallace homes have an affordability ratio of 3.2, the 34th most affordable among the markets we evaluated.
4. Millers Creek
The 28651 zip code in Millers Creek ranks No. 4 among North Carolina's residential real estate investment markets.
🔎 Key data about Millers Creek (28651)
| Data point | Value | Rank in state (of 4,336 markets) |
|---|---|---|
| InvestScore | 91.1 | 4th highest |
| Typical property value | $217,427[1] | 84th lowest |
| Five-year appreciation | 45%[2] | 130th highest |
| Household income | $61,623[3] | 130th highest |
| Affordability ratio | 3.5 | 69th most affordable |
| Five-year population growth | 21%[4] | 2nd highest |
| Unemployment rate | 2%[5] | lowest |
| Property taxes | $1,006[6] | 38th lowest |
| Educational attainment | 14%[7] | 256th highest |
Property values in Millers Creek's 28651 zip code have seen the 130th highest increase among evaluated markets in the state, with an appreciation of 45% over the past five years.
Millers Creek's affordability ratio of 3.5 makes it the 69th most affordable among the 4,336 markets we evaluated.
5. Parkton
The 28371 zip code in Parkton rounds out our top five residential real estate investment markets in North Carolina.
🔎 Key data about Parkton (28371)
| Data point | Value | Rank in state (of 4,336 markets) |
|---|---|---|
| InvestScore | 90.9 | 5th highest |
| Typical property value | $257,462[1] | 145th lowest |
| Five-year appreciation | 50%[2] | 46th highest |
| Household income | $67,257[3] | 46th highest |
| Affordability ratio | 3.8 | 118th most affordable |
| Five-year population growth | 9.2%[4] | 20th highest |
| Unemployment rate | 4.3%[5] | 11th lowest |
| Property taxes | $1,158[6] | 68th lowest |
| Educational attainment | 19%[7] | 228th highest |
Property values in Parkton's 28371 zip code rose 50% over the last five years, ranking the city 46th highest among evaluated markets in North Carolina.
Parkton homes have an affordability ratio of 3.8, the 118th most affordable among the markets we evaluated.
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Frequently asked questions
See our article Steps to Buying Your First Rental Property to learn the basics of real estate investing for beginners.
You'll learn the importance of setting goals, picking the right market, and more.
Cash investors often use what's called the 70% rule, which suggests they should pay around 70% of a house's after-repair value minus the cost of renovations.
By buying for about 70% of the after-repair value, they're positioning themselves to pay for repairs and other costs, and to lock in a profit.
The 70% rule isn’t a hard-and-fast formula, but a quick guideline investors use to evaluate potential deals.
Investing in residential real estate can be one of the best passive real estate investments in North Carolina.
Residential real estate offers accessible passive income and the potential to compound your original investment.
Renting out residential units is the top way to invest in real estate. House hacking also offers a great opportunity for passive real estate investment income.
How we rank residential real estate markets in North Carolina
To determine the best real estate investments in North Carolina we evaluated 4,336 markets on eight metrics, and then assigned an InvestScore based on a proprietary weighting framework. Each market corresponds to a specific zip code in North Carolina.
What is InvestScore?
InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.
- Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase.
- Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results.
- Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing.
- Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand.
- Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip.
- Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes.
- Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates.
- Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates local residents who have higher earning potential and thus should be able to afford homes.
