A Guide to Renting Properties and Market Trends in Bear Delaware
- December 21, 2022
- Category: Delaware Housing Market
Bear, Delaware, has a population of more than 20,000 people, and it is rising every year. Bear has grown in popularity in the last forty years, from its humble farming beginnings to a modern and popular suburb. If you’re considering property management or renting a property in Bear, Delaware, then this is the right time.
There are many fantastic amenities that will draw tenants and make it a terrific place to live. This article will guide you about renting properties and market trends in Bear Delaware.
Why Bear, Delaware?
Bear has one of the state’s highest average rentals, at $1,392 per month, while housing prices fell 2.5% last year. The job 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.
Delaware ranks 45th in the US in state and municipal property taxes per capita, and there is also no sales tax. When investing in a new market, working with a real estate agent intimately connected with the region is best.
Where is Bear, DE?
Bear is a census-designated place (CDP) in Delaware’s New Castle County. According to the 2010 census, the population was 19,371.
Originally a tiny crossroads in a rural region about 14 miles (23 kilometers) south of Wilmington, the area contained modest farms that mostly grew maize and livestock. Bear became a favored area for building massive home projects and commercial centers along US Route 40 in the late 1980s and early 1990s. Much of Bear follows the highway and stretches until around Delaware Route 896.
Bear is less than a twenty-minute drive south of Newark and Wilmington, so all the benefits of city living are easily accessible. The city is also around 5 miles from the Delaware River and Deemers Beach, making it ideal for individuals who want proximity to the sea.
Neighborhoods and Places in Bear, DE
Meridian Crossing, Glendale, and Becks Woods are some of the nicest neighborhoods in or around Bear, Delaware. Consider purchasing or renting a property in one of these popular areas.
Along Pulaski Highway, residents may visit many local cafes, pubs, and breweries or check everything off their shopping lists at Governor’s Square Shopping Center. Green spots such as Glasgow Park, Becks Pond Park, and Lums Pond State Park provide outdoor enthusiasts with various activities such as hiking, fishing, and camping.
Schools in Bear, DE
Christina School District and Colonial School District serve Bear, which has 14 public schools. There are also four private choices in the region, with even more possibilities in surrounding cities like Newark and Wilmington. Newark is also home to the University of Delaware, which is regarded as among the top 100 universities in the country.
Renting Properties and Market Trends in Bear Delaware
Types of Rental Properties in Bear, DE
According to the most current Census Bureau figures, 42% of Bear’s housing is leased, while 58% of residences are owned. Bear has 2% of its apartments in large buildings with 50 or more units, 88% in smaller apartment complexes with less than 50 units, and 5% in single-family rentals.
What do Average Bear, DE, Apartment Communities Look Like
Bear’s rental buildings have an average age of 29 years, with 36% being modern apartment complexes built after 2000. The city’s average size of apartment buildings is three 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.
What are the most frequent apartment floorplans in Bear, DE
In Bear, studio apartments account for about 0% of available rentals, while 1-bedroom floor plans account for 25% of the entire stock. For individuals looking for larger rentals, 2-bedroom floorplans account for 52% of all rentals. For individuals looking for additional space, larger apartments with three or more bedrooms are available in this city.
Locating the Ideal Bear Property
Property hunting may be a frightening experience. However, there are several things you can do to make the process go more smoothly.
- Investigate the prices at which previous properties were sold to obtain an idea of the “sold price” for the type of property you’re searching for
- Talk to your local real estate agents about becoming the first to know about available homes
- To find available property listings, use reputable and trustworthy websites
- Before making any commitments, research the danger of floods in your selected region
- Investing the time to conduct proper research can help you prepare for a significant life decision, ensuring you make the right decision
What the Locals Have to Say About Bear
We’ve found some reviews online from the locals living in Bear, and these are their thoughts:
- “There are many families in the area, beautiful parks, local restaurants, and food stores, and the neighborhood is calm and well-kept. “Amazing location”
- “A nice area for young families. More walkways and parking spaces are required. We’d want to see the railroad track silenced and no big load carried”
- “It’s a quiet area, the neighbors are pleasant, and my kids and I can stroll about without incident”
- “During the summer, the community hosts several flash dances for Halloween and activities around their pool area”
- “I’ve been here for five years. The driveways in my area (Hickory Woods) are lengthy, so trick-or-treating isn’t particularly exciting. It’s quite quiet and peaceful. There are several large residences with large yards (most with pools)”
Because everything is growing exponentially in Bear, we strongly advise you to consider moving there. With a growing population of 20.000 people and a lot of friendly and kind neighborhoods, Bear can be a perfect getaway for you and your family’s fresh, new start. Also, Delaware has no state or municipal sales taxes.
Therefore sales tax exemption certificates and reseller certificates are not valid in the state. Most goods and services in Delaware are subject to licensing and gross receipt taxes. Do your research, find available property listings, talk to an agent, and check the previous sales prices to make the best decision in buying your new home.