For many buyers in South Eastern North Carolina, the barrier to entry isn't just the down payment; it's the monthly carrying cost. With insurance premiums rising along the coast and interest rates stabilizing at higher tiers, the traditional single-family purchase can strain the budget.

Enter "house hacking"—the strategy of purchasing a multi-bedroom property, living in one room, and renting out the others to cover a significant portion (or all) of your mortgage. In markets like Wilmington and Jacksonville, this isn't just a trend; it is one of the most effective ways to build wealth as a first-time buyer.

The Math of the 3-Bedroom Home

The concept is simple but powerful. A buyer purchases a 3-bedroom, 2-bath home in a centrally located area—perhaps off College Road in Wilmington or near the bypass in Hampstead.

If the total mortgage PITI (Principal, Interest, Taxes, Insurance) is $2,600, renting out two spare bedrooms for $900 each generates $1,800 in revenue. The homeowner’s effective housing payment drops to $800. This strategy allows buyers to qualify for homes that might otherwise feel financially out of reach while simultaneously paying down principal.

Location Dictates Your Tenant Strategy

To execute this successfully in our region, you must match the location to the tenant profile:

• Wilmington (New Hanover): The proximity to UNCW makes student housing a consistent demand. However, buyers must be vigilant about the City of Wilmington’s zoning ordinances regarding "unrelated persons."
• Jacksonville & Sneads Ferry (Onslow): This is a prime market for military house hacking. Single servicemembers often prefer renting a room in a high-quality house over living in the barracks or an older apartment. The Basic Allowance for Housing (BAH) creates a reliable income stream.
• Leland (Brunswick): As younger professionals move to Leland for affordability, there is a growing market for "co-living" arrangements among commuters who work in downtown Wilmington but want newer construction.

The "Insider" Risk: Zoning and HOAs

This is where the generic advice stops and local expertise matters. You cannot simply buy any house and fill it with roommates.

• The "Three Unrelated" Rule: The City of Wilmington has strict zoning codes that generally limit occupancy to no more than three unrelated people in a single dwelling unit. Violating this can lead to steep fines.
• HOA Covenants: Many newer communities in Pender and Brunswick counties have restrictive covenants. Some ban rentals entirely, while others have minimum lease terms (e.g., no leases under 6 months), which kills the Airbnb/short-term rental model but allows for long-term roommates.

Your Next Step

House hacking is a legitimate business strategy, not just a living arrangement. It requires selecting a property with the right layout (privacy is key) and the right zoning.

At Aspyre Realty Group, we are experts in listening to your financial goals and communicating those wants into homes that work for you. We can help you identify properties in neighborhoods where house hacking is not only viable but profitable. Let’s analyze the rental potential of current listings to see how much of your mortgage we can eliminate.