President's Report from March 9, 2026

Wilmington’s newly seated City Council has begun its term by addressing one of the most pressing challenges facing our community: housing supply and affordability. The Greater Wilmington Chamber of Commerce is encouraged by the thoughtful discussions and early policy actions that signal a commitment to expanding housing opportunities across our city.
 
At recent meetings, Council took several important steps that signal a commitment to expanding housing opportunities in our community. Council approved amendments to the Land Development Code in the R-3 zoning district to allow duplex housing on smaller lots when specific design standards are met. This policy change helps reduce barriers to “missing middle” housing and creates opportunities to add additional housing units in areas where infrastructure and services already exist. This approach also helps ensure that future housing growth occurs in locations where roads, utilities, schools, and public services are already in place, allowing Wilmington to grow in a more efficient and sustainable way.
 
Earlier this year, Council also established a Housing Affordability Advisory Committee, expanding membership to include individuals with direct experience in affordable housing, including residents living in affordable units and professionals working in housing services and development. Five of the 11 committee seats are proposed for representatives of the realtor, developer, builder, and business communities.
 
Importantly, City Council also unanimously adopted Wilmington’s 2026 State and Federal Legislative Agenda, which includes clear support for housing affordability initiatives and policies that expand housing supply.
 
These actions come at a critical moment for Wilmington’s economy. Our community continues to experience strong population growth. The City’s population has grown to nearly 130,000 residents, increasing more than 12 percent since the last census, while the broader Wilmington metropolitan area now approaches half a million residents.
 
With that growth has come increased demand for housing. Today, the typical home value in Wilmington is approximately $429,000, with a median home sale price of $433,000 and a median listing price of $455,000. Wilmington remains a seller’s market, with just 3.68 months of housing supply available. While the market has become more balanced and stabilized compared to the pandemic boom, supply remains constrained. At the same time, rents continue to rise, averaging roughly $1,600 per month for a two-bedroom apartment.
 
At these prices, a household would need to earn close to $100,000 annually to comfortably afford a home in Wilmington. Even renting a typical two-bedroom apartment requires an income of roughly $64,000 per year. This growing gap between housing costs and local wages is increasingly felt across our workforce.
 
This dynamic has real consequences for employers across our region. Businesses consistently report that the availability of attainable housing plays a major role in their ability to recruit and retain workers. When housing costs rise faster than wages, it becomes more difficult for essential workers to live in the communities they serve and for employers to attract new talent to our region.
 
For Wilmington, expanding housing supply is not simply a development issue. It is an economic competitiveness issue. Communities that allow housing supply to keep pace with growth are far better positioned to stabilize housing costs, support their workforce, and sustain long-term prosperity.
 
The Chamber appreciates City Council’s willingness to engage in this conversation and take early steps to address housing supply. We look forward to working alongside local leaders, builders, employers, and community partners to advance policies that expand housing opportunities, support our workforce, and ensure Wilmington remains a community where people can build careers, raise families, and invest in their future.