Millsboro, DE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Millsboro Neighborhoods Since 2000




Millsboro, DE Real Estate Data


Millsboro Housing Market Information

With a population of 4,216, 1,687 total housing units (homes and apartments), and a median house value of $213,451, Millsboro real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Millsboro, accounting for 36.43% of the town's housing units. Other types of housing that are prevalent in Millsboro include row houses and other attached homes ( 28.57%), large apartment complexes or high rise apartments ( 26.02%), and a few mobile homes or trailers ( 5.41%).

The most prevalent building size and type in Millsboro are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 48.69% owning and 51.31% renting.

Millsboro homes and real estate are some of the newest in America. 45.31% 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 ( 37.35%), and between 1940-1969 ( 13.78%). There's also some housing in Millsboro built before 1939 ( 3.57%).

Vacant housing appears to be an issue in Millsboro. Fully 13.93% 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.

Millsboro Home Appreciation Rates

Millsboro's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Millsboro during the period has been just -1.02%, which is lower than 70% of US communities.

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 5.76%, which is higher than appreciation rates in 70.88% 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 -0.43%, which equates to an annual appreciation rate of -1.69%.

Notably, Millsboro's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Delaware, our data show that Millsboro's latest annual appreciation rate is higher than 50% 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:
$213,451

Millsboro, DE HOME PRICES

Value Range
> $1,083,000 0.0
$812,001 - $1,083,000 0.0
$541,001 - $812,000 1.7
$433,001 - $541,000 1.0
$325,001 - $433,000 13.0
$216,001 - $325,000 35.6
$109,001 - $216,000 32.2
$54,001 - $109,000 9.0
$0 - $54,000 7.5

Average for DE
High for Nation

Value Relative to Nation Value Relative to State
29.946711951748 59.0909090909091

Number Of Homes And Apartments:
1,687

Rent & Ownership

 

Average Market Rent:
$1,256 / per month

Homeownership Rate

Homeownership
Owners 48.69
Renters 51.31
Vacant 13.93

Housing Market Details

 

Age of Homes

AGE OF Millsboro HOMES
2000 or Newer 45.3
1970 - 1999 37.3
1940 - 1969 13.8
1939 or Older 3.6

Types of Homes

TYPE OF Millsboro HOMES
Single-Family 36.4
Townhomes 28.6
Small Apt. Buildings 3.6
Apt. Complexes 26.0
Mobile Homes 5.4
Other 0.0

Home Size

SIZE OF Millsboro HOMES
No Bedroom 2.40
1 Bedroom 9.23
2 Bedrooms 31.84
3 Bedrooms 47.60
4 Bedrooms 7.50
5 or more bedrooms 1.43

Millsboro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
DE*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
62.23% 2.89% 7 8
* 10 is highest