Dover DE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Dover, DE Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Dover Housing Market Information

With a population of 38,079, 13,427 total housing units (homes and apartments), and a median house value of $197,117, Dover real estate values are some of the lowest in Delaware, although compared to real estate around the nation, Dover homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Dover, accounting for 49.31% of the city's housing units. Other types of housing that are prevalent in Dover include large apartment complexes or high rise apartments ( 26.38%), row houses and other attached homes ( 15.35%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.31%).

The most prevalent building size and type in Dover are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 44.06% owning and 55.94% renting.

There is a lot of housing in Dover built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Dover built between 1940-1969 ( 24.82%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.91%). There's also some housing in Dover built before 1939 ( 7.63%).

Dover Home Appreciation Rates

Homes have actually lost value in Dover over the last then years, as home values have seen a decline of 0.74% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Dover home appreciation rates at 4.93%, which equates to an annual appreciation rate of 21.24%.

Over the last year, Dover appreciation rates have trailed the rest of the nation. In the last twelve months, Dover's appreciation rate has been 2.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Dover were at 4.93%, which equates to an annual appreciation rate of 21.24%.

Importantly, NeighborhoodScout’s exclusive research found that Dover's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Delaware, our data show that Dover's latest annual appreciation rate is lower than 80% of the other cities and towns in Delaware.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Dover differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Dover - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Dover real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$197,117

Dover, DE HOME PRICES

Value Range
> $1,129,000 0.5
$846,001 - $1,129,000 0.1
$564,001 - $846,000 1.6
$451,001 - $564,000 1.9
$338,001 - $451,000 7.6
$226,001 - $338,000 27.2
$113,001 - $226,000 46.9
$57,001 - $113,000 6.5
$0 - $57,000 7.7

Very Low for DE
Average for Nation

Value Relative to Nation Value Relative to State
40.4905109489051 88.6363636363636

Number Of Homes And Apartments:
13,427

Dover Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
DE*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
49.08% 2.04%
1
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,424 / per month

Homeownership Rate

Homeownership
Owners 44.06
Renters 55.94
Vacant 9.01

Housing Market Details

 

Age of Homes

AGE OF Dover HOMES
2000 or Newer 18.9
1970 - 1999 48.6
1940 - 1969 24.8
1939 or Older 7.6

Types of Homes

TYPE OF Dover HOMES
Single-Family 49.3
Townhomes 15.3
Small Apt. Buildings 5.3
Apt. Complexes 26.4
Mobile Homes 3.2
Other 0.4

Home Size

SIZE OF Dover HOMES
No Bedroom 1.82
1 Bedroom 11.97
2 Bedrooms 25.19
3 Bedrooms 40.37
4 Bedrooms 18.17
5 or more bedrooms 2.49