The story of this market
The typical home in ZIP 27920 sells for about $375,000, or $235 per square foot.
Prices are down 42.5% from a year ago, which gives buyers more room to negotiate. Homes take about 54 days to sell. HUD's fair market rent for a two-bedroom is $875 a month.
ZIP 27920 — Colerain
The 27920 housing market is experiencing a significant correction with a sharp year-over-year decline in median prices. High vacancy rates driven by the seasonal nature of the Outer Banks and the high cost of insurance are cooling buyer demand. The market remains somewhat competitive but is currently favoring buyers as inventory levels stabilize.
This ZIP is best suited for vacation-home buyers, retirees, and those employed in the local tourism or fishing industries who prioritize coastal access over proximity to urban employment centers.
Median prices moved down 42.5% year over year.
Homes spend a median of 54 days on market with 5.2 months of supply — a balanced-paced market.
12% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.2% · poverty 9.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 27920, Dare County NC
The area is served by Dare County Schools, which generally maintains a stable reputation within the rural coastal region.
Buxton is located on the Outer Banks and faces significant risks from hurricanes, storm surges, and coastal flooding, which heavily influence insurance premiums and availability.
The economy is primarily driven by seasonal tourism and local services, with limited industrial or corporate development due to the geography of the barrier islands.
Property taxes are levied by Dare County and the state of North Carolina; there are no municipal taxes for this unincorporated area, though special service districts for fire and emergency services apply.
Commuting is primarily local or involves long-distance travel along NC-12 to reach employment hubs in Nags Head or Manteo.
The area is defined by its proximity to the Cape Hatteras National Seashore, offering world-class surfing, fishing, and beach access.
The rental market is heavily skewed toward seasonal vacation rentals, creating high vacancy pressure for long-term residents during the off-season.
The economy is dominated by the tourism, hospitality, and commercial fishing sectors.
Transportation is limited to NC-12, the primary artery connecting the Outer Banks communities.
Development is strictly regulated by coastal management policies and the National Park Service.
Dare County assesses property at 100% of market value with periodic revaluations.
Parcels are subject to Dare County school and emergency service district taxes.
High-risk flood zone status makes property insurance expensive and difficult to secure.
North Carolina is a non-judicial foreclosure state.
Sellers are required to provide a Residential Property and Owners' Association Disclosure Statement.
Data retrieved from data.census.gov ZCTA 27920 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Oceanas Bistro4.47.3 mi
- Frisco Mini Golf & Go Karts42.9 mi
- Cape Hatteras Lighthouse4.80.6 mi
- Graveyard of the Atlantic Museum4.69.7 mi
- Avon Fishing Pier4.67.2 mi
- Cape Point4.81.6 mi
- Our Lady of the Seas Catholic Church4.81.5 mi
- Cape Hatteras Lighthouse4.80.6 mi
- Graveyard of the Atlantic Museum4.69.7 mi
- Happy Belly Ice Cream4.88.5 mi
- Frisco Native American Museum & Natural History Center4.44.9 mi
- Studio 124.87.1 mi
- Cape Hatteras National Seashore4.912.7 mi
- Family Water Adventures59.6 mi
- Teach's Lair Marina4.79.4 mi
- Hatteras Landing Marina4.69.5 mi
- Hatteras Harbor Marina4.79.1 mi
- Oden's Dock4.79 mi
- Dollar General4.11.4 mi
- Harbor House Seafood Market4.99.1 mi
- Sunrise Seafood Market4.87.5 mi
- Buxton Seafood4.72 mi
- Hatteras Landing Marina4.69.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Extensive protected coastline and beach access.
Historic lighthouse and major tourist attraction.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).