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 3,533 people, 1,591 houses or apartments, and a median cost of homes of $712,006, 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'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 5.52%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Lewes's appreciation rate, at 6.06%, has been at or slightly above the national average. In the latest quarter, Lewes's appreciation rate has been 6.02%, which annualizes to a rate of 26.34%.
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 lower than 50% 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.
$712,006
for Delaware
for nation
1,591
$2,596 / per month