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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 6,160, 2,282 total housing units (homes and apartments), and a median house value of $282,993, Elsmere real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Elsmere, accounting for 38.08% of the town's housing units. Other types of housing that are prevalent in Elsmere include row houses and other attached homes ( 37.63%), large apartment complexes or high rise apartments ( 13.17%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.74%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elsmere. Owner-occupied housing accounts for 65.97% of Elsmere's homes, and 50.27% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Elsmere's housing was primarily built during this period, from the '40s through the '60s. A full 67.47% of the town's housing hails from this era. Other housing ages represented in Elsmere include homes built before 1939 ( 18.92%) and housing constructed between 1970-1999 ( 9.05%). There's also some housing in Elsmere built between 2000 and later ( 4.57%).
Real estate appreciation rates in Elsmere's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.82% during the period.
Appreciation rates are so strong in Elsmere that despite a nationwide downturn in the housing market, Elsmere real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Elsmere appreciation rates continue to be some of the highest in America, at 12.51%, which is higher than appreciation rates in 75.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Elsmere. Elsmere appreciation rates in the latest quarter were at 3.14%, which equates to an annual appreciation rate of 13.16%.
Relative to Delaware, our data show that Elsmere's latest annual appreciation rate is higher than 80% of the other cities and towns in Delaware.
$282,993
for Delaware
for nation
2,282
$2,328 / per month