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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 1,989, 1,123 total housing units (homes and apartments), and a median house value of $663,408, Millville house prices are not only among the most expensive in Delaware, Millville 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 Millville, accounting for 66.09% of the town's housing units. Other types of housing that are prevalent in Millville include row houses and other attached homes ( 32.19%), mobile homes or trailers ( 1.72%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Millville. Owner-occupied housing accounts for 92.97% of Millville's homes, and 89.73% have either three or four bedrooms, which is average sized relative to America.
Millville homes and real estate are some of the newest in America. 90.14% of Millville's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Millville real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 8.31%), and between 1940-1969 ( 1.07%).
A decent proportion of the Millville housing stock is seasonally occupied. That is, homes and condos in Millville 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 Millville housing market speaks to its popularity as a vacation location of choice.
In the last 10 years, Millville has experienced some of the highest home appreciation rates of any community in the nation. Millville real estate appreciated 111.68% over the last ten years, which is an average annual home appreciation rate of 7.79%, putting Millville in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Millville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Millville that despite a nationwide downturn in the housing market, Millville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Millville appreciation rates continue to be some of the highest in America, at 9.16%, which is higher than appreciation rates in 92.26% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Millville. Millville appreciation rates in the latest quarter were at 6.79%, which equates to an annual appreciation rate of 30.04%.
Importantly, this makes Millville one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Delaware, our data show that Millville's latest annual appreciation rate is higher than 70% of the other cities and towns in Delaware.
$663,408
for Delaware
for nation
1,123
$2,679 / per month