Elsmere, DE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Elsmere Neighborhoods Since 2000




Elsmere, 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

Elsmere Housing Market Information

With 6,146 people, 2,203 houses or apartments, and a median cost of homes of $171,499, Elsmere real estate values are some of the lowest in Delaware, although compared to real estate around the nation, Elsmere homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Elsmere, accounting for 40.83% of the town's housing units. Other types of housing that are prevalent in Elsmere include row houses and other attached homes ( 27.98%), duplexes, homes converted to apartments or other small apartment buildings ( 18.79%), and a few large apartment complexes or high rise apartments ( 10.17%).

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 68.30% of Elsmere's homes, and 51.71% 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 66.67% of the town's housing hails from this era. Other housing ages represented in Elsmere include homes built before 1939 ( 14.80%) and housing constructed between 1970-1999 ( 10.47%). There's also some housing in Elsmere built between 2000 and later ( 8.06%).

Vacant housing appears to be an issue in Elsmere. Fully 17.02% of the housing stock is classified as vacant. Left unchecked, vacant Elsmere homes and apartments can be a drag on the real estate market, holding Elsmere real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Elsmere Home Appreciation Rates

Elsmere's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Elsmere during the period has been just -1.93%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Elsmere's appreciation rate, at 3.25%, has been at or slightly above the national average. In the latest quarter, Elsmere's appreciation rate has been 0.08%, which annualizes to a rate of 0.32%.

Relative to Delaware, our data show that Elsmere's latest annual appreciation rate is lower than 70% of the other cities and towns in Delaware.

Average Home Values

 

Median Home Value:
$171,499

Elsmere, DE HOME PRICES

Value Range
> $1,049,000 0.0
$787,001 - $1,049,000 0.0
$524,001 - $787,000 0.0
$420,001 - $524,000 3.2
$315,001 - $420,000 2.3
$210,001 - $315,000 26.9
$105,001 - $210,000 54.6
$53,001 - $105,000 11.2
$0 - $53,000 1.8

Very Low for DE
Average for Nation

Value Relative to Nation Value Relative to State
41.1051212938005 93.1818181818182

Number Of Homes And Apartments:
2,203

Elsmere 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
46.01% 2.22% 3 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,338 / per month

Homeownership Rate

Homeownership
Owners 68.30
Renters 31.70
Vacant 17.02

Housing Market Details

 

Age of Homes

AGE OF Elsmere HOMES
2000 or Newer 8.1
1970 - 1999 10.5
1940 - 1969 66.7
1939 or Older 14.8

Types of Homes

TYPE OF Elsmere HOMES
Single-Family 40.8
Townhomes 28.0
Small Apt. Buildings 18.8
Apt. Complexes 10.2
Mobile Homes 2.2
Other 0.0

Home Size

SIZE OF Elsmere HOMES
No Bedroom 4.14
1 Bedroom 9.57
2 Bedrooms 32.58
3 Bedrooms 40.64
4 Bedrooms 11.07
5 or more bedrooms 2.00