Wilmington, DE—19805
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 $216,000, with a year-over-year change of 5.0%. This indicates that home prices in Wilmington, DE are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $216,000 | 5.0% |
| Single Family | $217,000 | 4.3% |
| Condos | $176,000 | -1.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $177,000 | 3.5% |
3 Bed | $220,000 | 4.8% |
4 Bed | $252,000 | 3.3% |
| 5 Bed | $283,000 | 4.8% |
% of Housing Stock
Rental Trends — Wilmington, DE
As of July '25, Rentcast reports the average rent in Wilmington, DE is $1,630, with a year-over-year rent change of 8.7%. Per bedroom, the median rent as of July '25 in Wilmington, DE is studios: $1,320, 1-bedrooms: $1,230, 2-bedrooms: $1,500, 3-bedrooms: $1,920, 4-bedrooms: $2,710. The most common rental property sizes in Wilmington, DE are 2-bedroom and 3-bedroom, accounting for 44.0% and 25.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,630 |
| Studio Rent | $1,350 | $1,320 |
| 1 Bed Rent | $1,250 | $1,230 |
| 2 Bed Rent | $1,450 | $1,500 |
| 3 Bed Rent | $1,900 | $1,920 |
| 4 Bed Rent | $2,300 | $2,710 |
% 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 46. This is a increase of 22.0% 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 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $210,000 | -5.0% |
Listing Count | 125 | 2.0% |
| Listings as % of Homes | 0.5% | 2.0% |
Days on Market | 46 | 22.0% |
Demographics — Wilmington, DE
As of the latest ACS Survey released in 2023, Wilmington, DE has a population of 40,300, which has increased by 3.4% over the past 5 years. Wilmington, DE is a popular place for families, as children make up 26.4% of the population. The area has a poorly educated workforce, with 23.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,300 | 3.4% |
% Under 18 | 26.4% | 1.1% |
% Seniors | 13.8% | 27.8% |
% WFH | 8.7% | 163.6% |
% w/ College Degree | 23.2% | 7.9% |
As of the latest ACS Survey released in 2023, Wilmington, DE is a predominantly white area, with 36.9% of the population identifying as white. The white population has shrunk by 3.4% in the last 5 years. The second most common race or ethnicity in Wilmington, DE is black, making up 33.1% of the population. Foreign-born residents account for 9.3% of the population in Wilmington, DE, and this percentage has decreased by 13.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 36.9% | -3.4% |
% Black | 33.1% | -4.6% |
% Hispanic | 25.0% | 1.6% |
% Asian | 0.8% | -38.5% |
% Foreign Born | 9.3% | -13.9% |
Mortgage and Risk — Wilmington, DE
According to HUD data as of 2023, there were 562 mortgage originations in Wilmington, DE, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Wilmington, DE. Investor activity is low, as 7.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 562 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Wilmington, DE
As of 2024, the percent of homes in Wilmington, DE under the Section 8 program is 15.4%. 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 units appear to be good home sizes to consider for Section 8 housing in Wilmington, DE, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,193 |
Total Units Section 8 | 1,105 |
% Rentals under Section 8 | 15.4% |
% Occupied Section 8 | 87.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $1,250 | $1,280 |
| 2 Bedroom | $70 | $1,450 | $1,520 |
| 3 Bedroom | -$70 | $1,900 | $1,830 |
| 4 Bedroom | -$220 | $2,300 | $2,080 |
Affordability — Wilmington, DE
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $216,000 |
| Median Household Income | $56,700 |