Middletown, with a population of more than 22,000 residents, is one of Delaware’s fastest-growing regions. 79% of the people in this suburban community own their houses, and 41% are families with kids under the age of 18. If you’re thinking about property management in Middletown, Delaware, there are several fantastic amenities that will entice tenants and make it a terrific place to live. This article discusses the market trends in Middletown. If you are a renter then this article will also guide you about renting properties in Middletown.

Why Middletown, DE?

Middletown, Delaware, received the name from its historical 18th-century position, directly amid “Herman’s Cart Road,” a  major trading route. This road, which ran from the Bohemia River to Cantwell’s Bridge settlement, was the quickest route from the Atlantic Ocean to the Chesapeake Bay.

Middletown was also the first community in Delaware to build a memorial to World War I lost troops. It is located in the heart of town, near Cochran Square. Middletown is now a flourishing American community and one of the state’s fastest-growing communities.

Middletown locals recently embarked on a downtown revitalization effort, culminating in the Middletown Main Street nonprofit organization. This group organizes events, workshops, and other activities to help small companies engage with the community.

The new Charles Price Memorial Park in Middletown features a dog park, a big catch-and-release fishing pond, and many walking pathways. Holiday activities are hosted around town, and “Music on Main” hosts live performances throughout the summer. The annual Olde-Tyme Peach Festival is also held in Middletown.

Best Neighborhoods in Middletown

Willow Grove Mill and the Legends are two of the most desirable communities in or around Middletown, Delaware. Consider renting or purchasing a property in one of the popular areas.

Education in Middletown

The Appoquinimink School District provides public education in Middletown and has also built a new elementary school to suit the area’s population expansion and overcrowding at the existing primary schools. Overcrowding at Middletown High School, which was 400 students above capacity during the 2005-2006 school year, prompted the building of a second high school, Appoquinimink High School, completed in Fall 2008, and a third high school, Odessa High School, which opened in 2020.

The St. Georges Technical High School is located northeast of the town. MOT Charter School comprises a high school to the northeast and a K-8 campus to the southwest. St. Anne’s Episcopal School, which serves grades K-8, and St. Andrew’s School, a coed residential school connected with the Episcopal Diocese of Delaware, are located on the outskirts of town. Also, Wilmington University has a campus there.

Renting Properties In Middletown

Types of Rental Buildings in Middletown, DE

According to the latest current Census Bureau figures, 23% of housing in Middletown is leased, while 77% of residences are owned. Middletown has 3% of its apartments in significant buildings with 50 or more units, 95% in smaller establishments with less than 50 units, and 2% in single-family rentals.

What do Average Apartment Communities in Middletown, DE Look Like?

Middletown’s rental buildings have an average age of 21 years, with 58% being newer apartment complexes constructed in 2000.

The average size of apartment buildings in the city is two floors, and they are all garden-style apartment complexes with no mid-sized or high-rise structures. These qualities apply to large-scale apartment communities with 50 or more flats.

The Most Frequent Apartment Floorplans in Middletown, DE

Middletown rental apartments offer a wide range of sizes and floor plans. There are practically zero studio apartments to rent. One-bedroom floorplan rentals account for 11% of all flats in Middletown, while two-bedroom floorplan rentals account for over 70% of Middletown rentals. The remaining floorplans include three or more bedrooms.

Average Apartment Prices in Middletown, DE

In 2022, the standard rent for apartments in Middletown, DE, is somewhere between $1,705 and $1,865. The standard rent for a one-bedroom in Middletown, DE, is $1,705. The standard rent for a two-bedroom apartment is $1,865.

Market Trends in Middletown, DE Property Management

Silver Lake and Charles. E. Price Memorial Park, Augustine, Silver Run, and Appoquinimink Wildlife Areas are among Middletown’s many green spaces and walking paths. The neighborhood rapidly expands, with several wealthy housing complexes around the town center. Middletown also boasts a thriving arts and cultural scene, including galleries, restaurants, a theater, and seasonal festivals.

In addition to a robust assortment of local companies, Middletown is home to national retail and food chain establishments, bringing considerable economic growth and job opportunities to the area. Prospective purchasers should be advised that Middletown currently has an annual property tax rate of $0.30 per $100 of New Castle County assessed value.

Middletown Housing Market

The housing market in Middletown is quite competitive. Middletown homes receive four proposals on average and sell in around 23 days. Last month, the average sale price of a property in Middletown was $401K, up 7.4% from the previous year. Middletown’s average sale price per square foot is $185, up 15.2% from the prior year.

Choosing the Right Property in Middletown

Property searching can be a complicated process. However, there are several things you can do to make the process go more quickly.

• Before making any offers, thoroughly investigate the region.
• Check the prices at which prior properties were sold to have an idea of the “sold price” for the type of property you’re searching for.
• To find online property listings, use reputable and trustworthy websites.
• Talk to the local real estate professionals about being the first to know about available homes.
• Before making any decisions, research the danger of floods in your selected region.
• Taking the initiative to conduct thorough research can prepare you for such a significant life decision, allowing you to be sure that you are making the right option.

Conclusion

Middletown has everything you need in a tiny historic town. It has the sights, as well as shops and eateries to fill your bags and stomachs in between. Given everything New Castle offers, we strongly urge you to consider moving there.

With a population of over 22000 people and lovely and friendly communities, New Castle might be an outstanding alternative for you and your family’s fresh, new beginning. Furthermore, there are no state or local sales taxes in Delaware.

There are several factors to consider when investing in real estate. While cash is always the biggest concern, the general market environment is another crucial component of investing. To start with, how stable is the market? There are many chances in basically every market, but in the end, you’ll choose one with the most considerable earning potential while also aligning with your goals.

Investing in Delaware real estate market is no exception. A thorough examination of past market circumstances and predicted developments is essential for people considering purchasing properties for sale in Delaware and transforming them into investment properties. Furthermore, you must look at up-to-date data for a more precise real estate market evaluation. Here are the top rental markets in Delaware.

Delaware

Delaware could be the place to stay with its magnificent beaches, historical villages, quick access to major metropolitan areas, and breathtaking scenery. It is one of the founding 13 colonies and was the first state to accept the United States Constitution and enter the Union.

Delaware is still the second-smallest state, but with a low unemployment rate, it continually expands its population and economy. It is known as the Pharmaceutical Capital of the Earth because the state economy relies mainly on chemical manufacture, such as medicines. Still, it also has a sizable workforce in the financial and insurance industries. As an extra plus, Delaware is among the few states that do not have a sales tax.

Your investment approach will determine the top seven Delaware real estate investment markets. Coastal towns will be your first choice if you wish to focus on holiday rentals. A purchase-and-hold approach will aim for price appreciation, but someone attempting to develop a cash-flowing rental portfolio will look at house prices and rent.

Our best seven list includes a wide range of Delaware locales, offering something for every investment. Consult a qualified, local real estate agent before starting to invest in Delaware to acquire a better understanding of the market.

Consideration Factors

Growth in population

People relocate in search of better work prospects, schools, and safer areas. A place with no active population growth won’t give enough renters or buyers to support your investment strategy. It also frequently causes a drop in real estate and rental prices.

Real estate taxes

Property tax rates significantly influence the earnings of a Buy and Hold investment. Property-tax-heavy markets will be excluded. Tax rates that are steadily increasing will likely continue to rise. A municipality that often raises taxes may not be the well-managed municipality you seek.

Rate of property appreciation

Property appreciation rates are among the first indicators of a city’s healthy, dependable real estate investment sector. You want consistent yearly gains, not unpredictable highs and lows. The core of the entire investment scheme is long-term investment property appreciation. Locations that do not have growing investment property values will not pass a long-term investment examination.

Rate of unemployment

A high unemployment rate indicates that only a small number of people have the money to rent or buy an investment property. The high rate implies the likelihood of an unpredictable cash stream from current renters. When tenants are laid off, they cannot pay for goods and services, which harms businesses that employ others. Companies and individuals considering relocation will choose elsewhere, causing the local economy to suffer.

Natural catastrophes

As much as a lucrative investment plan is based on eventually selling the asset at a higher price, the look and physical durability of the buildings is critical. As a result, you’ll have to regularly avoid towns that experience severe natural disasters. However, your property and casualty insurance should cover the damage caused by disasters such as earthquakes.

School evaluations

A key factor is school ranking. High-ranked schools can attract new families to the neighborhood while retaining existing ones. The stability of the housing demand will determine your investment plans’ long-term and short-term viability.

Top Rental Markets in Delaware

Rehoboth Beach

Rehoboth Beach is a famous vacation destination, although housing values have recently fallen. Homes lost 10.9% of their total worth in 2018 and are expected to lose 2.8% more in 2019. It has had 1.3% year-on-year job growth, with 37.5% expected over the following ten years. Now, while prices are lower, it might be a perfect moment to invest in the expectation of future growth.

In 2017, Forbes rated it one of the top counties in the US for real estate investment. In addition, the county has one of the lowest median property tax rates across the country, making it particularly appealing to investors.

Middletown

Middletown was formerly a tavern stop midway between Odessa’s Appoquinimink Creek and Bohemia Landing – an appropriate title for a town in between. This little town is about 24 miles south of Wilmington and is famous for its Peach Festival, the Everett Theatre, and the attractive main street area.

However, Middletown may soon no longer be considered a tiny town since the population is increasing by 6.6% and employment is increasing by 2.4%. Residents may choose from many communities with an extraordinarily low average rent of $990.

Dewey Beach

Dewey Beach has always been a refuge for holiday rentals, but there has been a population change in recent years. More seniors are converting their rental residences into year-round retirement homes, causing the vacation rental market to decline. Vacation rental rates increased, making it an excellent spot to invest in.

New Castle

This riverfront city, positioned in the Brandywine Valley and near Wilmington, is one of America’s most prominent colonial communities. Despite its small size, ancient New Castle is a colonial gem full of cobblestone lanes, local stores and restaurants, and historical architecture and landmarks.

Based on its increasing population and employment development, it is a desirable location for tenants seeking a more relaxed, almost rural setting and students at Wilmington University and the University of Delaware. New Castle is a good investment location since the average monthly rent is only $1,884, and the typical sale price is only $188k compared to other Delaware cities.

Newark

Newark house prices fell slightly in 2018, by 0.8%, but increased by 3.3% in 2019. Rents are roughly $1,475 per month, while the median property value is $237,200. Unemployment is below the average, and employment increased by 2.7% last year. It boasts a robust rental market, with 58.4% of the inhabitants renting. The basics are all in place for a sound investing decision.

Bear

Bear has one of the state’s highest average rentals, at $1,392 per month, while property prices fell 2.5% last year. The employment market has expanded by 2.7% yearly and will grow by 32.9% during the next ten years. It has multiple excellent schools ranging from kindergarten to high school, which draws people to the area.

Wilmington

Wilmington remains a fantastic place for investment. While rentals are lower than in the close Philadelphia area, so are housing prices, attracting tenants from other sites. The median house value is $161,200. Despite its crime concerns, it is Delaware’s largest city, but investors need to be cautious that unemployment is significant.

In Wilmington, above 54% of the inhabitants rent out, which is favorable for investors. Allow a realtor to assist you in finding investment properties to prevent some of the worst regions and ensure you’re investing in a better community.

Conclusion

Real estate investing can be among the highest-paying things a person can do. It is far more secure than equities and bonds. Furthermore, all real estate investments gain value over time unless the market is in a crisis.

Investing in Delaware has its dangers and advantages that other investments do not. If you are interested in investing in one of Delaware’s markets, you should work with the correct financial tools and specialists to make the best judgments.

Maintaining and updating your property as a landlord is critical to competitiveness and attracting potential renters. Furthermore, upgrading a rental home will raise its value and provide a fantastic passive income potential! Everything from a fresh coat of paint to new kitchen countertops.

Whole house renovations can be rather costly – even a complete makeover of just one part of a home could be beyond a homeowner’s budget. However, for investment homes, seemingly minor improvements can frequently significantly impact the appearance and feel of a property, attracting high-quality renters and higher rental rates. Here are some cost-effective rental property renovations you can make to boost the value of your rental property.

Rental Property Renovations: Cost-Effective Upgrades

Painting

Though painting an entire apartment can be expensive, especially if professional painters are hired, changing the paint to just a few parts of a property can make it much more beautiful. Homes with bedrooms painted in various bright hues are often unappealing to renters, who prefer to personalize the space.

However, calming neutral hues are popular these days – grays, or even basic whites and creams, can give a sense of homogeneity throughout the home and allow renters to design as they wish without being restricted by vivid green walls.

Though the walls are the most prominent part of the house, painting the baseboards & door frames will help make the house look refreshed and clean. Painting an accent wall (remember, neutral) or whitewashing a brick fireplace are two more simple paint enhancements.

Exterior upgrades

Prospective renters’ first impressions of a home are often formed within a few moments of seeing it from the exterior. So, modest landscaping could make a significant impact in making your house more appealing. Ensure the lawn is maintained, the gutters are clean, and any overgrown plants or branches are removed. You can plant gorgeous shrubs or flowers around your property and bring new mulch.

Exterior improvements aren’t restricted to the grass. Consider power cleaning or refinishing an old, weathered patio with chipping paint on your property. Power washing can also make a significant difference in how tenants perceive the home – if an owner has spent the effort to clean the home’s outside and driveway, chances are they’ve also maintained the interior.

Home maintenance jobs can be time demanding, but they do not always have to be costly. Making minor upgrades to the home’s value and charm can enhance your rental price and attract high-quality tenants.

Contact our team today if you own a property investment and want to learn more about today’s trendy amenities and renovations. Alternatively, if you’re going to buy investment homes, we can guide you through the steps and help you choose a home that won’t require dozens of costly modifications and repairs.

Flooring

Installing new flooring can freshen the appearance of a home by making it feel and appear cleaner. Even though numerous low-cost flooring options are available these days, re-flooring a complete house can be costly.

However, if certain portions of the home have faded, dirty carpet, for instance, changing the flooring in such areas will raise the home’s perceived value. However, if you want to keep the cost of new flooring as low as possible, it will have to be a do-it-yourself project.

A luxury vinyl plank, which is not your grandmother’s vinyl, is one of today’s most popular flooring options. These floorings are available in various colors and are renowned as highly durable and water-resistant.

If you decide to tackle a flooring job, be sure you’re prepared to put in the time and work required and get familiar with materials and construction methods – the lousy installation will cost you more in the long run. Websites like YouTube and several big box home improvement stores feature instructional videos on almost everything and could be an excellent place to start.

Light fixtures

The appropriate lighting can radically transform the atmosphere of a room, making it feel either cold and corporate or warm and inviting. Simple light fixture adjustments can instantly update the look of a room, and these days, low-cost lights can be obtained at home improvement retailers or even on Amazon. Is there a ceiling fan in the house? If not, consider adding some to the bedrooms and main living space.

Ceiling fans are famous among tenants since they make the home appear more pleasant. If you’ve done lighting installs previously, you know to switch off the source of electricity in the room where you’re working. If you’ve never made such an improvement before, hiring a local electrician for a couple of hours to install everything may be your best bet correctly.

Add bathroom storage

It seems to be the house’s one room in which there is still insufficient storage space, a feature that tenants greatly covet. To make the most of the area in a little bathroom, landlords can quickly and simply install extra storage space.

Towels and robes can be hung on the wall using hooks or a rack, whatever option you like. If the bathroom doesn’t already have a shelf, you should install one either over the toilet or on the back of the door to store linens and other objects in the bathroom. To further expand storage space, build a bathroom cabinet above the sink.

Kitchen cabinets

Is your investment home equipped with vintage brown drawers and cabinets that appear to have been installed in 1980? It’s surprising what a fresh coat of paint, as well as some new hardware, can do for the appearance of a kitchen. Again, neutral is ideal for repainting kitchen cabinets. It’s also a good idea to go to your local paint store to ensure you get the right items.

It’s also a good idea to go to your local paint store to ensure you get the right items. Though washing, sanding, priming, and applying numerous coats of paint can take some time, it is a relatively inexpensive update that will make a significant difference.

Add a backsplash

This is yet another feature that can elevate the look and feel of a kitchen. For a low-budget renovation, expensive, elaborate tiles might be out of the picture. Still, subway tiles not only enrich the area but will also give your walls an additional layer of security. Though backsplashes are usually built over kitchen sinks, they can also be positioned behind stoves.

Roof

When a roof reaches the age of fifteen years, it’s time to think about replacing it. In extreme weather, neglecting the top might result in significant damage. Who wants to wake up in the middle of the night to find out that there is a leakage in the roof that is causing damage to the inside of your home?

Landlords should request a roofing inspector to assess the roof regularly and make plans to replace it if necessary. A beautiful roof looks nice and protects the property beneath it.

Why Should you Upgrade the Rental Property?

Let us start with the obvious: higher rent. When you start making changes to raise property value, you also allow yourself to argue for a rent rise.

People are eager to pay more for more excellent products, such as newer equipment, more excellent floors, and fixtures. Other things to consider when remodeling your rental:

• Your property will stand out: Whenever you improve your property, you demonstrate to potential renters that you worry enough to make it appealing to them. Renovate to make the property as appealing to potential tenants as feasible
• Possible improvements in energy efficiency: You can help lower utility costs by installing new appliances, replacing the windows, or adjusting the thermostat. As a result, if you pay the utilities for the home, this is a significant benefit to you
• Overall property worth increase: Improving the general aspects of the rental property will raise its potential resale value
• Significant tax deductions: A large portion of your expenses could be deductible from the property’s taxable income
• Lower ongoing expenses: Improve your rental home to reduce utility bills, which some tenants may appreciate, as well as costly ongoing maintenance. Energy-saving light bulbs and water-saving toilets may be more expensive at first, but they will save you money in the long run
• Increase renter satisfaction: Happy tenants are more likely to stay, and long-term renters require smaller costly vacancies. Renovate the rental property to attract new tenants faster and keep existing residents under contract for a more extended period

Conclusion

That’s all there is to it! There are numerous low-cost strategies to boost the value of your property in the short and long term. It is now up to you to choose what you will do. This list may seem intimidating, but remember that you are not required to accomplish everything. Begin with simple tasks like replacing doorknobs or cabinet handles, then progress to more extensive work like painting and fencing.

Your rental property is just an investment, but money must be spent to make money. You’ll need to maintain putting money into your rental throughout its life. However, the idea is to spend less money while earning more money.

To establish a good leasing agreement, landlords and renters in Delaware must observe specific laws and regulations. The Delaware landowner sets most rules and restrictions based on their requirements. However, these agreements are also governed by the state’s landlord-tenant regulations, so you should be aware of them.

This guide will teach you plenty about Delaware landlord-tenant law, including the present situation of the housing marketplace of the country, rights and obligations for all parties involved, and other helpful information.

Handling a lease agreement entails more than just collecting rent on time. There are several more conditions on which both parties must agree before renting a home.

It’s important to know that not all Delaware rental agreements function similarly. They depend greatly on the landlords and their terms for occupying their rental property. However, it is vital to understand the rights of the tenant and the landlord to avoid future legal issues.

Consider that if you want particular assistance with your rental contracts, you can seek legal counsel.

Landlords’ Rights & Responsibilities

• Before visiting the rental properties, a 60-day notice is necessary.
• Repairs must be completed within 12 days.
• The security deposit must be returned within 20 days.
• There is no need to give notice before raising the rent.

There are several specifics landlords should be aware of when looking at  Delaware rental laws:

• Entry Notice – Before accessing an apartment or property in Delaware, the landlord must provide a 48-hour notice.
• Security Deposit – In Delaware, the sum a landlord can collect for a security deposit is set to one month’s rent. Landlords are required to restore the deposit in the first 20 days of the tenant’s leaving.
• Raising the Rent – The landlords can change the renting price to any amount, with a sixty-day notice first.
• Maintenance – The landlord must keep the property in livable shape. Landlords are required to fix damages in the first 12 days after being contacted by a tenant. If the landlord doesn’t complete the repairs, the tenant has the option of retaining up to two-thirds of the rent or paying the repairs and deducting the amount from their following rent payment.
• Tenant Selection Procedure – Landlords have the legal authority to do a background check on a potential renter if they have written authorization. The Delaware Code stipulates the following regulations in these situations:
• The amount of a registration fee that a landlord may charge their renter is regulated by the state of Delaware.
• The application cost is non-refundable.
• According to Delaware landlord-tenant legislation, the charge cannot be more than 10% of one month’s rent.

Tenants’ Rights & Responsibilities

Responsibilities

Following the Delaware Code, each renter is responsible for keeping the unit in excellent condition, which includes inspecting the electrical, sanitary, and plumbing equipment to ensure they are in working order. Aside from that, in a rented property, each Delaware tenant is liable for the following:

• Maintain the cleanliness of all fixtures.
• Do not bother the neighbors or other tenants.
• Perform minor maintenance tasks.
• Pay the rent on time.
• Follow all of the stipulations of the contract and the Delaware Code.

Rights

Every Delaware renter has the right to find a livable rental property that complies with Delaware’s housing laws and discrimination-free housing from their renter.

If the property requires repairs, the landlord must receive a written notification from the tenant to ensure the repairs can be completed. The tenant must deliver such a written report within a reasonable time frame to be legally permitted to take alternative action.

Rental Contracts

The Delaware Code contains landlord-tenant legislation. If you want a more in-depth understanding of how this works, be sure to study it thoroughly.

Every lease agreement in Delaware must be documented if the lease duration is one year or more. Alternatively, the lease might be verbal. However, it is usually preferable to use the written version because it can aid both parties in the event of a legal disagreement over payment, evictions, or damages.

Overall, according to Delaware landlord-tenant legislation, a lease contract must always include the following:

• A full description of the rented properties.
• Conditions for rental payments.
• Clauses requiring a security deposit.
• Lease noncompliance provisions.
• Details about the renter and landlord.
• Person in charge of maintenance and utility bills.

Frequently Asked Questions

Is Delaware Known for Being a Landlord-Friendly?

Delaware isn’t regarded as a landlord-friendly state based on the rules established in their landlord-tenant statute. The primary reason is that renters have much power over their landlords, which might influence how they handle the rental arrangement. On the contrary hand, the landlord-tenant code does not prevent rent control regulations, which means that every municipality can establish unique rent constraints for the landlord.

What is the Delaware Eviction Procedure?

In Delaware, the landlord can apply for eviction for one of four reasons. The four causes are failure to pay rent, breaking the lease contract, unlawful acts, and lease term expiration. Depending on the offense, the landlord must allow the renter anything from five to sixty days to fix the infraction.

If the tenant refuses to correct or leave, the landlord can file a $45 complaint with the court. It will be delivered to the tenant within five to thirty days of filing the complaint. After that, the hearing will be arranged between a couple of days to several weeks.

If the landlord wins in court, an order of possession will be filed within ten days. The renter must leave within 24 hours of receiving the notice.

How long it takes to evict a tenant?

Based on the cause for the eviction, evicting a renter in Delaware may take anywhere from one to three months.

Can you hold back the rent?

If a landlord fails to make necessary repairs, the tenant has the option to either cover the cost of the repairs and deduct it from their next rent payment or hold back two-thirds of the rent until the repairs are completed.

Where can I find Delaware landlord-tenant laws?

Suppose you wish to examine the content of landlord-tenant legislation, like state security deposit regulations. In that case, you may find references in many of the articles and tables on the Nolo site’s State Landlord-Tenant Laws page.

Conclusion

Whether you’re a landlord or a tenant, make sure to read everything in this article to understand your and the other party’s rights and responsibilities. If you’d like to prevent future legal conflicts, follow all of the standards outlined in the Delaware Code and landlord-tenant statutes. This also encourages strong leasing connections for the duration of the lease. Contact a lawyer if you need more information about your case.

As a real estate investor in Delaware, your top markets will depend on your investment strategy. If you are focused on vacation rentals, towns along the coast may be at the top of your list. On the other hand, if you are looking for price appreciation through a buy-and-hold strategy or seeking to build a rental portfolio with cash flows, you may want to consider factors such as home prices and rents. Continue reading to find out the best place to buy a rental investment property in Delaware.

Real Estate Investments in Delaware

As an investor in real estate, it’s essential to consider multiple factors beyond just the amount of capital you have available. You should carefully evaluate the overall market conditions to determine if it offers good opportunities for investment. While possibilities can be found in any market, choosing a market that aligns with your investment goals and has the potential for solid income returns is essential.

When considering investing in the Delaware real estate market, it’s crucial to analyze current market conditions and future trends thoroughly. Gathering up-to-date data and performing a real estate market analysis can help you make informed decisions about which properties to invest in. Whether you’re interested in buying houses for sale in Delaware to convert into rental properties or seeking other investment opportunities, a solid understanding of the market can be a valuable asset.

The Best Place to Buy a Rental Investment Property in Delaware

Bear

Bear is a town in the state of Delaware known for its high average rents, which currently stand at $1,392 per month. Despite this, home prices in the area declined by 2.5% in the past year. However, the job market in Bear has shown positive growth, with a 2.7% year-over-year increase and an expected growth of 32.9% over the next decade. The town also boasts several highly rated schools, from elementary to high school, which may contribute to its appeal to potential residents.

Delaware ranks 45th in the nation for state and local property taxes per capita and has no sales tax. If you are interested in investing in the Bear real estate market, it is recommended to work with a local real estate agent who has in-depth knowledge of the area.

Dewey Beach

Dewey Beach has traditionally been a popular destination for vacation rentals, but there has been a shift in the population in recent years. An increasing number of retirees are opting to transform their rental properties into full-time retirement homes, leading to a decrease in the availability of vacation rentals.

As a result, vacation rental rates in Dewey Beach have soared, making it an attractive location for investors looking to enter the vacation rental market. If you consider purchasing a property in Dewey Beach for vacation rentals, now may be a good time to act.

Rehoboth Beach

Rehoboth Beach is a popular vacation destination located in Sussex County, Delaware. However, the real estate market in the area has experienced some downturns in recent years. Home values in Rehoboth Beach decreased by 10.9% in 2018.

Despite this, the job market in Rehoboth Beach has shown modest growth, with a 1.3% year-over-year increase, and is predicted to see strong growth of 37.5% over the next decade. This may make it a good time for investors to consider purchasing a property in Rehoboth Beach, as prices are currently lower, and there is potential for future growth.

Sussex County, which includes Rehoboth Beach and Dewey Beach, has seen the most substantial job growth in Delaware since 2000. In 2017, Forbes named it one of the best counties in the country for real estate investment. The county also boasts some of the country’s lowest median property tax rates, making it an attractive location for investors.

Consider investing in the Rehoboth Beach or Sussex County real estate market. In that case, it may be wise to work with a knowledgeable local real estate agent who can help you navigate the market and find the best investment opportunities.

Wilmington

Wilmington, the largest city in Delaware, has long been a popular destination for real estate investors. One of the city’s main draws is its relatively affordable housing prices, with median home values currently at $161,200. This is significantly lower than the prices in nearby Philadelphia, making Wilmington an appealing option for those looking to invest in the real estate market.

In addition to its relatively low housing prices, Wilmington also has a high percentage of renters, with over 54% of the population choosing to rent rather than own a home. This can be beneficial for real estate investors, as it means a large pool of potential tenants for rental properties.

While Wilmington does have its challenges, such as high unemployment rates and crime issues, it is still a city that offers potential for real estate investors. In particular, properties near the University of Delaware may be sought after by students and therefore have a steady demand.

Suppose you are considering investing in the Wilmington real estate market. In that case, it is essential to research and work with a knowledgeable real estate agent who can help you find the best investment opportunities. An experienced agent can assist you in identifying the most desirable neighborhoods and avoid any areas that may be riskier for investment.

Middletown

Middletown is a small town located 24 miles south of Wilmington, Delaware. It is known for its rich history, including its origins as a tavern stop between Appoquinimink Creek and Bohemia Landing, its charming main street area, and popular events such as the Middletown Peach Festival and the Everett Theatre. Despite its small-town feel, Middletown is experiencing steady growth, with a population increase of 6.6% and employment growth of 2.4%.

One of the critical reasons for Middletown’s growth is its affordable housing prices, with an average rent of $990. The growing population has created a demand for housing, and landlords can expect their properties to be on the market for an average of only two days before finding a suitable tenant. A variety of neighborhoods are available for residents in Middletown, making it an attractive location for homeowners and landlords.

Conclusion

Real estate investment can be a lucrative and secure financial opportunity, as rental properties tend to appreciate over time and are often more stable than stocks or bonds. While investing in Delaware real estate does involve some risk, it also offers unique benefits that are not found in other types of investments.

To make informed and savvy decisions when investing in Delaware’s real estate market, it is advisable to utilize the right investment tools and seek the guidance of experienced professionals. Doing so can maximize your chances of success in this exciting and potentially rewarding venture.

Newark is a thriving university town in Delaware’s New Castle County. It is the third-largest city in Delaware, with a population of approximately 33,000 people. Even though too many college students live in Newark during the academic year, most inhabitants own their houses. Here is an in-depth analysis of rental properties and market trends in Newark Delaware.

Why Newark, DE?

Every day, a dynamic, award-winning downtown offers numerous possibilities for thrilling events and festivals, as well as fantastic food and unique shopping experiences. With more than 60 restaurants, Newark’s downtown provides everything you might desire, from familiar chain restaurants to distinctive eateries found only in Newark. If you’re thinking about property management in Newark, Delaware, many fantastic amenities will entice tenants and make it a terrific place to live.

The most popular attractions in Newark include witnessing a performance by the Chapel Street Players, being creative at the Art Alliance, competing at Main Event Entertainment, and touring one of the town’s numerous antique stores or farmers’ markets. There are nearly 17 miles of trails and 33 parks in Newark, providing residents and visitors with plenty of area for outdoor activities.

Newark is a thriving city with a rich history that appeals to everyone, from elders to families with kids and college students. It also has a flourishing corporate and nonprofit community and The Newark Partnership, a resource for all things living, working, and playing in Newark.

Where is Newark, DE

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Newark is less than a mile from the intersection of Delaware, Maryland, and Pennsylvania, making it a 20-minute journey from Wilmington and less than an hour from Philadelphia. The University of Delaware is located in a city bordered by state parks.

Environmental Factors

• Flood – 56%. A substantial flood risk exists in around 15.04% of structures in Newark, Delaware. A typical building with flood risk in this location has a 33% probability of experiencing a flood exceeding 27.4″ deep before 2050
• Storm – 98%. Typically, there are approximately 11 large 2-day storms each year, with about 1.59 being severe. In 2050, you may expect 13 storms and 1.65 inches of rain “per storm
• Heat – 61%. A day with a high temperature of 93°F is considered hot in Newark, Delaware. Usually, there are roughly eight hot days every year. The prognosis for 2050 is for around 42 hot days per year

Newark’s Educational Facilities

The University of Delaware, noted for its business and biochemistry schools, is in Newark. Other institutions in and around Newark include Lincoln University, Franklin University, and community colleges like Cecil College. The city has three public education districts, including 17 primaries and seven high schools. There are also 115 private schools in the region, giving parents plenty of options for where to send their children.

The Best Newark Neighborhoods

South Newark, Northern Newark, and Southwest Newark are some of the finest neighborhoods in or surrounding Newark, Delaware. Consider purchasing or renting a property in one of these popular areas.

Property Management Market Trends in Newark Delaware

Most of Newark’s population lives in single-family houses, while numerous apartment complexes have been developed in the last decade. Fairfield Crest is popular with families with its colonial-style houses and closeness to White Clay Creek State Park, the University of Delaware, downtown, and the Fairfield Shopping Center.

Newark is mainly populated by college students, families, and young couples. Most students reside in College Park, an area near the University of Delaware in the center of town. However, the vast majority of people own their houses.

Prospective purchasers should be informed that, in addition to Delaware’s comparatively low tax rate of.56%, Newark now has a property tax rate of $0.9120 per $100 assessed value. This may be attributed partly to the city’s “Green Newark” campaign, which includes a Renewable Energy Program, exceptionally easy recycling, public transit, and ongoing solar panel installations on city land.

The housing market in Newark is quite competitive. Homes in Newark typically receive four bids and sell in around 16 days. Last month, the average sale price of a property in Newark was $383K, a 22.4% increase over the previous year. The average sale price per square foot in Newark is $162, a 7.4% decrease from the previous year.

Migration and Relocation Trends in Newark

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Between September and November of this year, 19% of Newark homebuyers sought to relocate out of the city, while 81% looked to stay in the metropolitan region.

Who’s Looking to Relocate in Newark?

2% of homebuyers nationwide looked to relocate to Newark from other metro areas. New York residents want to relocate to Newark more than any other metro area, trailed only by Washington and Chicago. After Chicago, the order goes to San Francisco, California Scranton, Pennsylvania. San Diego, California Buffalo, Los Angeles, California Lincoln, and Nebraska Ithaca.

Where are Newark homebuyers looking to relocate?

81% of Newark purchasers looked for properties inside the Newark metropolitan area. The most preferred destination among Newark homebuyers was Salisbury, followed by Miami and Orlando.

Market Trends

According to market trends, Newark’s average price per square foot has decreased by $3 (2%) over the last six months. The average sales price has dropped from $385,000 to $379,000 over the previous six months. Property in Newark spends an average of 6 days on the market. Buyers could anticipate spending 102% of the asking price.

Choosing the Ideal Newark Property

Property searching could be a stressful experience. However, there are certain things you may do to ease the process.

• Contact the local real estate agents to be the first to know about available homes
• Before making any offers, thoroughly examine the area
• To find available property listings, use reputable and trustworthy websites
• Check the prices at which prior properties were sold to obtain an idea of the “sold price” for the type of property you’re searching for
• Before making any decisions, research the environmental factors and danger of floods in your selected region
• Making an effort to conduct proper research could help you prepare for a significant life decision, ensuring you are making the right decision

Conclusion

Given everything Newark offers, we strongly recommend you consider relocating there. Newark, with a rising population of 33.000 people and many friendly and caring neighborhoods, might be an excellent option for you and your family’s fresh start. In addition, there are no state or local sales taxes in Delaware. As a result, sales tax exemption and reseller certificates are no longer recognized in the state. In Delaware, most goods and services are subject to licensing and gross receipt taxes.