Wilmington, DE—19802
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wilmington, DE
As of Oct '25, the median home price in Wilmington, DE is $201,000, with a year-over-year change of 6.2%. This indicates that home prices in Wilmington, DE are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $201,000 | 6.2% |
| Single Family | $204,000 | 5.7% |
| Condos | $175,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $144,000 | 2.9% |
2 Bed | $181,000 | 2.8% |
3 Bed | $199,000 | 6.4% |
4 Bed | $256,000 | 6.2% |
| 5 Bed | $355,000 | 5.7% |
% of Housing Stock
Rental Trends — Wilmington, DE
As of July '25, Rentcast reports the average rent in Wilmington, DE is $1,620, with a year-over-year rent change of 5.2%. Per bedroom, the median rent as of July '25 in Wilmington, DE is studios: $1,350, 1-bedrooms: $1,300, 2-bedrooms: $1,550, 3-bedrooms: $1,860, 4-bedrooms: $2,500. The most common rental property sizes in Wilmington, DE are 1-bedroom and 3-bedroom, accounting for 32.3% and 30.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,550 | $1,620 |
| Studio Rent | $1,350 | $1,350 |
| 1 Bed Rent | $1,200 | $1,300 |
| 2 Bed Rent | $1,500 | $1,550 |
| 3 Bed Rent | $1,800 | $1,860 |
| 4 Bed Rent | $2,500 | $2,500 |
% of Rental Stock
Property Listings — Wilmington, DE
As of Oct '25, Realtor.com reports that the median days on market for a home in Wilmington, DE is 54. This is a increase of 51.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $219,000 | -4.0% |
Listing Count | 108 | 38.0% |
| Listings as % of Homes | 0.5% | 38.0% |
Days on Market | 54 | 51.0% |
Demographics — Wilmington, DE
As of the latest ACS Survey released in 2023, Wilmington, DE has a population of 25,700, which has decreased by -2.4% over the past 5 years. Wilmington, DE is a moderately popular place for families, as children make up 21.2% of the population. The area has a moderately educated workforce, with 28.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,700 | -2.4% |
% Under 18 | 21.2% | -10.5% |
% Seniors | 14.2% | 7.6% |
% WFH | 14.3% | 225.0% |
% w/ College Degree | 28.0% | 16.7% |
As of the latest ACS Survey released in 2023, Wilmington, DE is a predominantly black area, with 68.8% of the population identifying as black. The black population has shrunk by 9.2% in the last 5 years. The second most common race or ethnicity in Wilmington, DE is white, making up 20.0% of the population. Foreign-born residents account for 10.9% of the population in Wilmington, DE, and this percentage has increased by 194.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 20.0% | 13.0% |
% Black | 68.8% | -9.2% |
% Hispanic | 6.8% | 61.9% |
% Asian | 1.0% | 66.7% |
% Foreign Born | 10.9% | 194.6% |
Mortgage and Risk — Wilmington, DE
According to HUD data as of 2023, there were 347 mortgage originations in Wilmington, DE, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 50.0% above 90% LTV (very high). This implies large mortgage risk in Wilmington, DE. Investor activity is low, as 5.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 347 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Wilmington, DE
As of 2024, the percent of homes in Wilmington, DE under the Section 8 program is 20.9%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Wilmington, DE, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,968 |
Total Units Section 8 | 1,215 |
% Rentals under Section 8 | 20.9% |
% Occupied Section 8 | 90.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $150 | $1,200 | $1,350 |
| 2 Bedroom | $110 | $1,500 | $1,610 |
| 3 Bedroom | $140 | $1,800 | $1,940 |
| 4 Bedroom | -$290 | $2,500 | $2,210 |
Affordability — Wilmington, DE
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $201,000 |
| Median Household Income | $54,400 |