The housing market in Wilmington, DE is thriving. The median value of homes is $273,100, which is significantly lower than the US median value of $338,100. However, Wilmington has seen a higher rate of appreciation over the past year at 10.72%, compared to 8.27% across the nation as a whole. This increased appreciation could be attributed to numerous factors, such as local economic development or an influx in population. Regardless of what may be causing it, the rising home values indicate that more people are looking for homes in Wilmington and that now is a great time to invest in this area's real estate market.
The median home cost in Wilmington is $273,100. Home appreciation the last 10 years has been 53.1%. Home Appreciation in Wilmington is up 12.1%.
Average Age of Homes
- The median age of Wilmington real estate is 70 years old
The Rental Market in Wilmington
- Renters make up 45.0% of the Wilmington population
- 3.7% of houses and apartments in Wilmington, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.