Investing in Delaware
Delaware is the first state and is widely considered to be one of the most business-friendly states in the US. In fact, more corporations domiciled in Delaware than even residents! Along with the fact that residents and visitors pay no sales tax, Delaware could make sense as the next place you invest in properties. Delaware is also home to popular beaches like Rehoboth, Bethany, and Dewey -- making it a year-round tourist destination.
The Nophin team crunched the numbers and found the five best places to invest in Delaware rental properties.
Statewide vacancy rates
Wilmington is the largest city in Delaware and is known as the Corporate Capital of America.
- Population: 115,451
- Median household income: $45,139
- Median 1-bedroom monthly rent: $1,250
- Median listing home price: $295,000
Newark is the third largest city in Delaware and has a large student population due to the city being home to the University of Delaware.
- Population: 30,601
- Median household income: $60,767
- Median 1-bedroom monthly rent: $1,478
- Median listing home price: $335,000
Dover is the capital city of Delaware. It has an important role in American history as Dover is the location where the US Constitution was ratified making Delaware the first state.
- Population: 39,403
- Median household income: $48,500
- Median 1-bedroom monthly rent: $1,375
- Median listing home price: $289,000
Lewes is the first town in the state of Delaware and was first settled by the Dutch in 1631.
- Population: 3,303
- Median household income: $72,609
- Median 1-bedroom monthly rent: $1,880
- Median listing home price: $575,000
Middletown is a suburb of Wilmington and is known for its family-friendly atmosphere.
- Population: 23,192
- Median household income: $91,663
- Median 1-bedroom monthly rent: $1,455
- Median listing home price: $479,900
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To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources. Image by Tim Kiser, CC BY-SA 2.5.