Wilmington, DE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Wilmington Neighborhoods Since 2000




Wilmington, 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 Q2 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

Wilmington Housing Market Information

With a population of 71,948, 28,881 total housing units (homes and apartments), and a median house value of $158,389, Wilmington real estate values are some of the lowest in Delaware, although compared to real estate around the nation, Wilmington homes are still considered rather expensive.

Row houses and other attached homes are the single most common housing type in Wilmington, accounting for 53.26% of the city's housing units. Other types of housing that are prevalent in Wilmington include large apartment complexes or high rise apartments ( 23.13%), duplexes, homes converted to apartments or other small apartment buildings ( 11.83%), and a few single-family detached homes ( 11.46%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities 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 Wilmington are three and four bedroom dwellings, chiefly found in row houses and other attached homes. The city has a mixture of owners and renters, with 44.25% owning and 55.75% renting.

The housing in Wilmington was primarily built before 1939 ( 42.57%), making the housing stock in Wilmington some of the oldest overall in America, although there is a range of ages of homes in Wilmington. The next most important housing age is between 1940-1969 ( 29.87%), followed by between 1970-1999 ( 19.62%). There's also some housing in Wilmington built between 2000 and later ( 7.94%).

Vacant housing appears to be an issue in Wilmington. Fully 16.39% of the housing stock is classified as vacant. Left unchecked, vacant Wilmington homes and apartments can be a drag on the real estate market, holding Wilmington 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.

Wilmington Home Appreciation Rates

Wilmington's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Wilmington during the period has been just -1.69%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Wilmington's appreciation rate, at 3.77%, has been at or slightly above the national average. In the latest quarter, Wilmington's appreciation rate has been 2.05%, which annualizes to a rate of 8.47%.

Relative to Delaware, our data show that Wilmington's latest annual appreciation rate is higher than 90% 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 Wilmington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wilmington - 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 Wilmington real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$158,389

Wilmington, DE HOME PRICES

Value Range
> $1,069,000 0.8
$802,001 - $1,069,000 0.6
$534,001 - $802,000 2.1
$427,001 - $534,000 2.2
$320,001 - $427,000 5.8
$214,001 - $320,000 17.9
$107,001 - $214,000 45.1
$54,001 - $107,000 19.4
$0 - $54,000 6.1

Very Low for DE
Average for Nation

Value Relative to Nation Value Relative to State
47.906786111599 100.0

Number Of Homes And Apartments:
28,881

Wilmington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
DE*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
43.40% 2.08% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,258 / per month

Homeownership Rate

Homeownership
Owners 44.25
Renters 55.75
Vacant 16.39

Housing Market Details

 

Age of Homes

AGE OF Wilmington HOMES
2000 or Newer 7.9
1970 - 1999 19.6
1940 - 1969 29.9
1939 or Older 42.6

Types of Homes

TYPE OF Wilmington HOMES
Single-Family 11.5
Townhomes 53.3
Small Apt. Buildings 11.8
Apt. Complexes 23.1
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Wilmington HOMES
No Bedroom 3.11
1 Bedroom 18.99
2 Bedrooms 24.16
3 Bedrooms 42.55
4 Bedrooms 8.48
5 or more bedrooms 2.72