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 3,575, 1,424 total housing units (homes and apartments), and a median house value of $446,432, Milton real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Milton, accounting for 68.50% of the town's housing units. Other types of housing that are prevalent in Milton include row houses and other attached homes ( 18.59%), duplexes, homes converted to apartments or other small apartment buildings ( 7.55%), and a few large apartment complexes or high rise apartments ( 5.36%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Milton. Owner-occupied housing accounts for 74.57% of Milton's homes, and 74.05% have either three or four bedrooms, which is average sized relative to America.
Milton homes and real estate are some of the newest in America. 48.66% of Milton'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 Milton real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 23.33%), and before 1939 ( 20.15%). There's also some housing in Milton built between 1940-1969 ( 7.86%).
Vacant housing appears to be an issue in Milton. Fully 11.17% of the housing stock is classified as vacant. Left unchecked, vacant Milton homes and apartments can be a drag on the real estate market, holding Milton real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Milton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.28% during the period.
Over the last year, Milton appreciation rates have trailed the rest of the nation. In the last twelve months, Milton's appreciation rate has been -0.87%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Milton were at 6.02%, which equates to an annual appreciation rate of 26.34%.
Importantly, this makes Milton 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 Milton's latest annual appreciation rate is lower than 90% of the other cities and towns in Delaware.
$446,432
for Delaware
for nation
1,424
$1,577 / per month