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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Millsboro, DE Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Millsboro, DE Housing Market Trends

With 7,426 people, 2,891 houses or apartments, and a median cost of homes of $385,422, Millsboro real estate prices are well above average cost compared to national prices.

Row houses and other attached homes are the single most common housing type in Millsboro, accounting for 42.81% of the town's housing units. Other types of housing that are prevalent in Millsboro include single-family detached homes ( 30.71%), large apartment complexes or high rise apartments ( 19.70%), and a few mobile homes or trailers ( 3.58%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.

The most prevalent building size and type in Millsboro are three and four bedroom dwellings, chiefly found in row houses and other attached homes. The town has a mixture of owners and renters, with 63.22% owning and 36.78% renting.

Millsboro homes and real estate are some of the newest in America. 69.81% of Millsboro's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Millsboro real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 23.18%), and between 1940-1969 ( 4.08%). There's also some housing in Millsboro built before 1939 ( 2.93%).

Millsboro Home Appreciation Rates

Real estate appreciation rates in Millsboro's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.94% during the period.

Appreciation rates are so strong in Millsboro that despite a nationwide downturn in the housing market, Millsboro real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Millsboro appreciation rates continue to be some of the highest in America, at 9.16%, which is higher than appreciation rates in 92.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Millsboro. Millsboro appreciation rates in the latest quarter were at 6.79%, which equates to an annual appreciation rate of 30.04%.

Importantly, this makes Millsboro one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Delaware, our data show that Millsboro's latest annual appreciation rate is higher than 60% 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 town. Individual neighborhoods within Millsboro differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Millsboro - 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 Millsboro real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$385,422

Millsboro, DE Home Prices
> $1,410,000
$1,057,001 - $1,410,000
$705,001 - $1,057,000
$564,001 - $705,000
$423,001 - $564,000
$282,001 - $423,000
$141,001 - $282,000
$70,001 - $141,000
$0 - $70,000
0.0%
0.0%
2.0%
2.0%
3.3%
3.3%
8.6%
8.6%
26.2%
26.2%
34.8%
34.8%
20.9%
20.9%
0.7%
0.7%
3.4%
3.4%
0% 100.0%
% of Homes
Average

for Delaware

High

for nation

Number of Homes And Apartments:

2,891

Millsboro Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,399 / per month

Homeownership Rate

Owners
Renters
63.2%
63.2%
36.8%
36.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.9%
4.9%
95.1%
95.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
69.8%
69.8%
23.2%
23.2%
4.1%
4.1%
2.9%
2.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
30.7%
30.7%
42.8%
42.8%
3.2%
3.2%
19.7%
19.7%
3.6%
3.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.9%
0.9%
4.8%
4.8%
30.2%
30.2%
58.0%
58.0%
4.8%
4.8%
1.3%
1.3%
0% 100.0%
% of Homes