Laurel, DE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Laurel Neighborhoods Since 2000




Laurel, 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

Laurel Housing Market Information

With 4,075 people, 1,275 houses or apartments, and a median cost of homes of $161,897, Laurel real estate values are some of the lowest in Delaware, although compared to real estate around the nation, Laurel homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Laurel, accounting for 60.58% of the town's housing units. Other types of housing that are prevalent in Laurel include duplexes, homes converted to apartments or other small apartment buildings ( 19.04%), large apartment complexes or high rise apartments ( 15.87%), and a few row houses and other attached homes ( 3.17%).

The most prevalent building size and type in Laurel are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 46.88% owning and 53.12% renting.

There is a lot of housing in Laurel 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 Laurel built before 1939 ( 25.88%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.57%). There's also some housing in Laurel built between 2000 and later ( 18.90%).

Vacant housing appears to be an issue in Laurel. Fully 10.08% of the housing stock is classified as vacant. Left unchecked, vacant Laurel homes and apartments can be a drag on the real estate market, holding Laurel 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.

Laurel Home Appreciation Rates

Homes have actually lost value in Laurel over the last then years, as home values have seen a decline of 20.57% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Laurel home appreciation rates at -0.31%, which equates to an annual appreciation rate of -1.24%.

Over the last year, Laurel appreciation rates have trailed the rest of the nation. In the last twelve months, Laurel's appreciation rate has been -0.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Laurel were at -0.31%, which equates to an annual appreciation rate of -1.24%.

Relative to Delaware, our data show that Laurel's latest annual appreciation rate is lower than 90% of the other cities and towns in Delaware.

Average Home Values

 

Median Home Value:
$161,897

Laurel, DE HOME PRICES

Value Range
> $1,020,000 0.2
$765,001 - $1,020,000 0.0
$510,001 - $765,000 0.3
$408,001 - $510,000 1.6
$306,001 - $408,000 10.7
$204,001 - $306,000 22.0
$102,001 - $204,000 47.1
$51,001 - $102,000 7.8
$0 - $51,000 10.2

Very Low for DE
Average for Nation

Value Relative to Nation Value Relative to State
44.8201101605531 97.7272727272727

Number Of Homes And Apartments:
1,275

Laurel 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
44.42% 2.15% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$953 / per month

Homeownership Rate

Homeownership
Owners 46.88
Renters 53.12
Vacant 10.08

Housing Market Details

 

Age of Homes

AGE OF Laurel HOMES
2000 or Newer 18.9
1970 - 1999 32.7
1940 - 1969 22.6
1939 or Older 25.9

Types of Homes

TYPE OF Laurel HOMES
Single-Family 60.6
Townhomes 3.2
Small Apt. Buildings 19.0
Apt. Complexes 15.9
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Laurel HOMES
No Bedroom 0.00
1 Bedroom 10.01
2 Bedrooms 29.48
3 Bedrooms 38.72
4 Bedrooms 17.63
5 or more bedrooms 4.16