Dover, DE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Dover Neighborhoods Since 2000




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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Dover Housing Market Information

With 37,522 people, 12,945 houses or apartments, and a median cost of homes of $198,556, Dover real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Dover, accounting for 46.60% of the city's housing units. Other types of housing that are prevalent in Dover include large apartment complexes or high rise apartments ( 27.52%), row houses and other attached homes ( 14.87%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.13%).

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 43.74% owning and 56.26% 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 ( 28.38%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.89%). There's also some housing in Dover built before 1939 ( 7.73%).

Dover Home Appreciation Rates

Dover's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Dover during the period has been just -1.66%, which is lower than 80% of US communities.

Appreciation rates are so strong in Dover that despite a nationwide downturn in the housing market, Dover real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Dover appreciation rates continue to be some of the highest in America, at 6.85%, which is higher than appreciation rates in 80.32% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Dover. Dover appreciation rates in the latest quarter were at 3.34%, which equates to an annual appreciation rate of 14.05%.

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 higher 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:
$198,556

Dover, DE HOME PRICES

Value Range
> $1,105,000 0.9
$829,001 - $1,105,000 0.1
$552,001 - $829,000 1.3
$442,001 - $552,000 1.3
$332,001 - $442,000 7.2
$221,001 - $332,000 28.5
$110,001 - $221,000 46.7
$55,001 - $110,000 5.7
$0 - $55,000 8.4

Low for DE
High for Nation

Value Relative to Nation Value Relative to State
32.6028360482831 72.7272727272727

Number Of Homes And Apartments:
12,945

Dover Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
DE*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
43.73% 2.13% 2 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,377 / per month

Homeownership Rate

Homeownership
Owners 43.74
Renters 56.26
Vacant 9.87

Housing Market Details

 

Age of Homes

AGE OF Dover HOMES
2000 or Newer 17.9
1970 - 1999 46.0
1940 - 1969 28.4
1939 or Older 7.7

Types of Homes

TYPE OF Dover HOMES
Single-Family 46.6
Townhomes 14.9
Small Apt. Buildings 6.1
Apt. Complexes 27.5
Mobile Homes 4.6
Other 0.3

Home Size

SIZE OF Dover HOMES
No Bedroom 1.66
1 Bedroom 11.85
2 Bedrooms 27.16
3 Bedrooms 40.02
4 Bedrooms 16.65
5 or more bedrooms 2.66