Milford, DE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Milford, 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

Milford Housing Market Information

With a population of 10,252, 3,838 total housing units (homes and apartments), and a median house value of $191,528, Milford real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Milford, accounting for 61.64% of the city's housing units. Other types of housing that are prevalent in Milford include large apartment complexes or high rise apartments ( 22.95%), duplexes, homes converted to apartments or other small apartment buildings ( 10.22%), and a few row houses and other attached homes ( 5.20%).

The most prevalent building size and type in Milford are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.60% owning and 43.40% renting.

There is a lot of housing in Milford 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 Milford built between 2000 and later ( 27.25%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.41%). There's also some housing in Milford built before 1939 ( 15.10%).

Vacant housing appears to be an issue in Milford. Fully 14.75% of the housing stock is classified as vacant. Left unchecked, vacant Milford homes and apartments can be a drag on the real estate market, holding Milford 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.

Milford Home Appreciation Rates

Homes have actually lost value in Milford over the last then years, as home values have seen a decline of 19.34% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Milford home appreciation rates at 1.10%, which equates to an annual appreciation rate of 4.47%.

Over the last year, Milford appreciation rates have trailed the rest of the nation. In the last twelve months, Milford's appreciation rate has been 2.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Milford were at 1.10%, which equates to an annual appreciation rate of 4.47%.

Relative to Delaware, our data show that Milford's latest annual appreciation rate is lower than 70% 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 Milford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Milford - 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 Milford real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$191,528

Milford, DE HOME PRICES

Value Range
> $1,066,000 1.0
$799,001 - $1,066,000 0.4
$533,001 - $799,000 1.0
$426,001 - $533,000 1.8
$320,001 - $426,000 7.0
$213,001 - $320,000 21.4
$106,001 - $213,000 58.8
$53,001 - $106,000 5.2
$0 - $53,000 3.3

Low for DE
High for Nation

Value Relative to Nation Value Relative to State
34.4486112738779 79.5454545454545

Number Of Homes And Apartments:
3,838

Milford 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:
$1,343 / per month

Homeownership Rate

Homeownership
Owners 56.60
Renters 43.40
Vacant 14.75

Housing Market Details

 

Age of Homes

AGE OF Milford HOMES
2000 or Newer 27.3
1970 - 1999 33.2
1940 - 1969 24.4
1939 or Older 15.1

Types of Homes

TYPE OF Milford HOMES
Single-Family 61.6
Townhomes 5.2
Small Apt. Buildings 10.2
Apt. Complexes 22.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Milford HOMES
No Bedroom 1.62
1 Bedroom 12.55
2 Bedrooms 25.92
3 Bedrooms 47.62
4 Bedrooms 10.71
5 or more bedrooms 1.58