Wilmington is a higher-priced market in the Northeast with a smaller market with 71,442 residents. At a 4.25% estimated cap rate, this is a moderate market where rents of $1,860/mo lag behind home prices. With a median home price of $375,000 and population is roughly stable, Wilmington offers opportunities for investors who source deals carefully.
Market data powered by Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) · Updated Feb 2026
Wilmington's 0.5% rent-to-price ratio is well below the 1% rule. At median prices of $375,000, the $1,860/mo rent produces only $1,327/mo in NOI. Investors here need to target below-median properties or pursue value-add strategies to make the numbers work.
At current rates, a 20% down conventional loan ($75K at 7%) would result in approximately $-668/mo cash flow — negative at median prices. Larger down payments, seller financing, or buying 15–25% below median are strategies to turn the numbers positive.
The 16.8x gross rent multiplier and 5.8% vacancy rate position Wilmington as a balanced market. With annual appreciation at 2.4%, total returns (cash flow + equity growth) run approximately 6.6% before financing leverage.
Pre-filled with Wilmington medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Wilmington.
Wilmington, DE has a population of 71,442 and has been growing at 0.2% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $375,000 paired with median rents of $1,860/mo produces an estimated cap rate of 4.25%.
Property taxes at 0.56% are well below the national average of ~1.1%, providing a meaningful cash flow advantage many investors overlook. The vacancy rate of 5.8% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 8.0x, homes cost about 8.0 times the local median income of $46,800. This elevated ratio means homeownership is stretched, supporting rental demand but limiting buyer pools. Home values have appreciated at roughly 2.4% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Wilmington presents moderate opportunities. Cap rates near 4.25% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.