Real Estate Relocation Guide To Delaware

Relocating from Chicago to Delaware is a major move. You’re crossing state lines and heading 750 miles to find a new home in a different community. By familiarizing yourself with the local real estate market, whether your destination is Dover or Georgetown you can get a good idea of the Delaware landscape and locate the best area for you and your family.

We’ll start with the big picture… Delaware has an estimated population of 853,000* and around 1,950 square miles of land. The total number of housing units is 382,866, of which about 238,000 are owner-occupied and 82,000 are inhabited by renters. Roughly 62,750, or 16 percent, of the residences in the state are vacant. The median home value in Delaware is $227,100 and the median household income is $52,833. For an idea of how this sizes up with national averages – the median home value in the U.S. is $185,200 and the median household income is $48,451.

Statewide figures provide a good overview of Delaware, but when you’re planning to relocate to the region, knowing what types of housing are available is the most important thing. So here’s a breakdown of what Delaware real estate has to offer…

About 11,000 homes in Delaware are new construction, developed in 2005 or after (another 44,600 were put up between 2000 and 2004). Delaware has its share of vintage charm as well with 40,000 residences built prior to 1940. The total number of detached, single-family houses across the state is 218,745, and there’s also a good selection of multi-unit residences and condos. Most homes have 3 bedrooms, but size varies greatly depending on where you look. And, in case you’re wondering about how your budget will pan out in The First State, monthly mortgage costs in [Alabama] generally hover between $700 and 2,000+.

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*All statistics are from the 2006 American Community Survey as shown on the U.S. Census Bureau website.
Sources: factfinder.census.gov and www.city-data.com