Millsboro, DE—19966
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Millsboro, DE
As of Oct '25, the median home price in Millsboro, DE is $399,000, with a year-over-year change of -0.2%. This indicates that home prices in Millsboro, DE are flat. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $399,000 | -0.2% |
| Single Family | $408,000 | -0.5% |
| Condos | $327,000 | -2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $280,000 | -0.7% |
3 Bed | $383,000 | 0.5% |
4 Bed | $536,000 | -1.3% |
| 5 Bed | $667,000 | -1.0% |
% of Housing Stock
Rental Trends — Millsboro, DE
As of July '25, Rentcast reports the average rent in Millsboro, DE is $2,270, with a year-over-year rent change of 4.1%. Per bedroom, the median rent as of July '25 in Millsboro, DE is studios: $1,580, 1-bedrooms: $1,590, 2-bedrooms: $1,940, 3-bedrooms: $2,230, 4-bedrooms: $3,020. The most common rental property sizes in Millsboro, DE are 3-bedroom and 2-bedroom, accounting for 41.6% and 39.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,270 |
| Studio Rent | $850 | $1,580 |
| 1 Bed Rent | $1,600 | $1,590 |
| 2 Bed Rent | $1,850 | $1,940 |
| 3 Bed Rent | $2,150 | $2,230 |
| 4 Bed Rent | $2,900 | $3,020 |
% of Rental Stock
Property Listings — Millsboro, DE
As of Oct '25, Realtor.com reports that the median days on market for a home in Millsboro, DE is 78. This is a increase of 10.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $439,000 | -12.0% |
Listing Count | 399 | 23.0% |
| Listings as % of Homes | 1.3% | 23.0% |
Days on Market | 78 | 10.0% |
Demographics — Millsboro, DE
As of the latest ACS Survey released in 2023, Millsboro, DE has a population of 34,900, which has increased by 25.4% over the past 5 years. Millsboro, DE is a moderately popular place for families, as children make up 17.6% of the population. The area has a moderately educated workforce, with 27.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,900 | 25.4% |
% Under 18 | 17.6% | -1.1% |
% Seniors | 31.6% | 4.6% |
% WFH | 11.3% | 117.3% |
% w/ College Degree | 27.6% | 41.5% |
As of the latest ACS Survey released in 2023, Millsboro, DE is a predominantly white area, with 73.7% of the population identifying as white. The white population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Millsboro, DE is hispanic, making up 11.1% of the population. Foreign-born residents account for 8.1% of the population in Millsboro, DE, and this percentage has increased by 39.7% 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 | 73.7% | -3.7% |
% Black | 8.1% | -31.4% |
% Hispanic | 11.1% | 38.7% |
% Asian | 1.3% | 18.2% |
% Foreign Born | 8.1% | 39.7% |
Mortgage and Risk — Millsboro, DE
According to HUD data as of 2023, there were 1080 mortgage originations in Millsboro, DE, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Millsboro, DE. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,080 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 1.0% |
% Second Loans | 13.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Millsboro, DE
As of 2024, the percent of homes in Millsboro, DE under the Section 8 program is 5.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Millsboro, DE, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 142 |
Total Units Section 8 | 142 |
% Rentals under Section 8 | 5.2% |
% Occupied Section 8 | 75.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$460 | $1,600 | $1,140 |
| 2 Bedroom | -$360 | $1,850 | $1,490 |
| 3 Bedroom | -$270 | $2,150 | $1,880 |
| 4 Bedroom | -$560 | $2,900 | $2,340 |
Affordability — Millsboro, DE
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.4 |
| Median Home Price | $399,000 |
| Median Household Income | $75,400 |