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
With a population of 4,216, 1,655 total housing units (homes and apartments), and a median house value of $203,291, Millsboro real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Millsboro, accounting for 33.10% of the town's housing units. Other types of housing that are prevalent in Millsboro include single-family detached homes ( 30.16%), row houses and other attached homes ( 25.50%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.64%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
The most prevalent building size and type in Millsboro are three and four bedroom dwellings. The town has a mixture of owners and renters, with 52.65% owning and 47.35% renting.
Millsboro homes and real estate are some of the newest in America. 45.26% 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 ( 40.28%), and between 1940-1969 ( 13.18%). There's also some housing in Millsboro built before 1939 ( 1.29%).
Vacant housing appears to be an issue in Millsboro. Fully 11.36% of the housing stock is classified as vacant. Left unchecked, vacant Millsboro homes and apartments can be a drag on the real estate market, holding Millsboro 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.
Homes have actually lost value in Millsboro over the last then years, as home values have seen a decline of 19.79% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Millsboro home appreciation rates at -0.31%, which equates to an annual appreciation rate of -1.24%.
Over the last year, Millsboro appreciation rates have trailed the rest of the nation. In the last twelve months, Millsboro's appreciation rate has been 0.81%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Millsboro were at -0.31%, which equates to an annual appreciation rate of -1.24%.
Relative to Delaware, our data show that Millsboro's latest annual appreciation rate is lower than 80% 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.
|$778,001 - $1,037,000||0.0|
|$519,001 - $778,000||1.6|
|$415,001 - $519,000||1.1|
|$311,001 - $415,000||12.8|
|$208,001 - $311,000||34.8|
|$103,001 - $208,000||34.5|
|$52,001 - $103,000||9.5|
|$0 - $52,000||5.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Millsboro HOMES|
|2000 or Newer||45.3|
|1970 - 1999||40.3|
|1940 - 1969||13.2|
|1939 or Older||1.3|
|TYPE OF Millsboro HOMES|
|Small Apt. Buildings||6.6|
|SIZE OF Millsboro HOMES|
|5 or more bedrooms||1.66|