Wrightsville Beach Economic Profile

New Hanover County is ranked the second smallest county in North Carolina, however, it is still one of the fastest growing. According to the U.S. Census Bureau, the coastal county grew 26 percent overall since 2000, surpassing the state's 18.5 percent growth rate. New Hanover County also surpasses the states average yearly income as well. As of 2009, households in North Carolina had an average income of $45,570 while New Hanover County had one of $48,553. A testament to size not equaling status, the 2.4-square-mile area of Wrightsville Beach beats them both, with a median household income of $76,639. As of June 30th, 2009, the fiscal year revenue for the town of Wrightsville Beach was $19,506,849. That's more than $8 million per square mile!

Tourism claims most of that revenue, with 19.3 percent of employed persons working within it's various sub-divisions of arts, entertainment, recreation, accommodation and food services. Close behind are educational, health and social services, professional, management and administrative services, and real estate and rental leasing. However, these are year round statistics, and it should be kept in mind that during peak summer months tourism, real estate and rental leasing all increase exponentially.

Temperate climate, refreshing breezes and picturesque waterways make Wrightsville Beach a popular destination for travelers across the states. All year round, you'll find people meandering to this coastal gem to enjoy a laid-back pace and pastel sunsets. Even though visitors wander on and off the island during all months, there is a peak season. This begins roughly around March and April with the on-set of spring breaks and Easter vacations and levels off around September with the passing of Labor Day. During this time, it is estimated that the population swells to around 80,000.

With such a drastic increase in population, all of the town's businesses experience a hearty increase in revenue for those months. Hotels, restaurants and retail services reap most of the benefits, giving tourism the title of economic powerhouse. With the service industry of the island being so lucrative,that is where most of the jobs on Wrightsville Beach exist.

Wrightsville Beach's productive real estate industry is derived from a combination of factors, the most noticeable being the beauty and serenity of the waterfront properties. People are attracted to the residential character of the island because it prevents it from turning into the typical, carnival-like atmosphere of a beach resort town; it is a haven for relaxation and laid-back reflection. Many people purchase property solely as secondary escapes from reality and rent them out to vacationers the rest of the time. In fact, 45 percent of the homes on Wrightsville Beach are rentals. Real estate brokers and vacationers alike benefit due to the trend, and the profit in this industry is high.

Due to the exclusive atmosphere, Wrightsville Beach is one of the most expensive real estate markets on North Carolina's southern coast. Properties for sale on the island used to be few and far between, but due to the recent economic downturn more have become available. They are highly sought after and pricey, but recessions always end, and a coastal property could turn quite a nice profit in the future. If you’re interested in seeking more information on purchasing property during this time of opportunity, head over to Real Estate.