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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Lewes, DE Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lewes, DE Housing Market Trends

With a population of 3,533, 1,591 total housing units (homes and apartments), and a median house value of $687,518, Lewes house prices are not only among the most expensive in Delaware, Lewes real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Lewes, accounting for 74.19% of the city's housing units. Other types of housing that are prevalent in Lewes include large apartment complexes or high rise apartments ( 14.30%), row houses and other attached homes ( 6.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.53%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lewes. Owner-occupied housing accounts for 80.69% of Lewes's homes, and 82.37% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lewes built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lewes built between 2000 and later ( 34.87%). A lesser amount of the housing stock also hails from before 1939 ( 14.58%). There's also some housing in Lewes built between 1940-1969 ( 9.81%).

A decent proportion of the Lewes housing stock is seasonally occupied. That is, homes and condos in Lewes are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Lewes housing market speaks to its popularity as a vacation location of choice.

Lewes Home Appreciation Rates

Lewes's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lewes during the period has been just 5.04%, which is lower than 70% of US communities.

Appreciation rates are so strong in Lewes that despite a nationwide downturn in the housing market, Lewes real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lewes appreciation rates continue to be some of the highest in America, at 9.16%, which is higher than appreciation rates in 92.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lewes. Lewes appreciation rates in the latest quarter were at 6.79%, which equates to an annual appreciation rate of 30.04%.

Importantly, this makes Lewes one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Delaware, our data show that Lewes's latest annual appreciation rate is higher than 60% of the other cities and towns in Delaware.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lewes differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lewes - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lewes real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$687,518

Lewes, DE Home Prices
> $1,221,000
$916,001 - $1,221,000
$611,001 - $916,000
$488,001 - $611,000
$366,001 - $488,000
$245,001 - $366,000
$122,001 - $245,000
$61,001 - $122,000
$0 - $61,000
10.5%
10.5%
23.5%
23.5%
32.6%
32.6%
17.0%
17.0%
6.0%
6.0%
6.9%
6.9%
0.8%
0.8%
0.1%
0.1%
2.5%
2.5%
0% 100.0%
% of Homes
Very High

for Delaware

Very High

for nation

Number of Homes And Apartments:

1,591

Lewes Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,457 / per month

Homeownership Rate

Owners
Renters
80.7%
80.7%
19.3%
19.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
43.7%
43.7%
56.3%
56.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
34.9%
34.9%
40.7%
40.7%
9.8%
9.8%
14.6%
14.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
74.2%
74.2%
6.1%
6.1%
4.5%
4.5%
14.3%
14.3%
0.9%
0.9%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
1.1%
1.1%
10.7%
10.7%
53.6%
53.6%
28.8%
28.8%
5.9%
5.9%
0% 100.0%
% of Homes