A review of recently released Census Data has listed the states with the highest and lowest rates for home ownership, and Delaware is ranked among the highest. Delaware’s homeownership rate is listed at 72.1%, making it the 5th highest state for home ownership.
What is interesting about the data is that Delaware has a relatively high median home price of $249,400. This alone is no surprise due to the prime beach real estate that is in high demand, however what is most interesting is the fact that the other top states have considerably lower median home prices. West Virginia, Iowa and Michigan all are below $150,000. Although several factors account for home ownership rates (population size of cities, available condos/apartments, etc), low home prices certainly help promote ownership. The fact that Delaware’s median price is considerably higher than these other states is testament to the value the state brings to homeowners. Beautiful beaches, charming towns, and plenty of tax advantages have all contributed to Delaware’s impressive home ownership rate.
To read more about Delaware and the other states with high home ownership rates, view the Top 5 list here at AOL Real Estate. And to learn more about Bayside’s homes for sale in the spectacular community of Fenwick Island, contact our friendly team here today!