Compared to other states, Delaware is the place to be for those who mind their numbers—and for those who want a high quality of life.
To start, housing prices here compare favorably with those of neighboring states. According to the Zillow Home Value Index, the median price of a home in Delaware in mid-January was $191,100. Compare that to New Jersey at $270,800, Virginia at $227,000, Washington, D.C., at $363,200, Maryland at $234,400 and Pennsylvania at $143,400. The median price of a home here in many cases now approximates prices in 2004.
Other compelling arguments are low property and school taxes, and a lower cost of living.
As a point of reference, the median property tax rate in Delaware is 0.43 percent, as reported by Avalara.com. In New Jersey it’s 1.89 percent. Pennsylvania is 1.35, Maryland is 0.87, Virginia is 0.74 and New York is 1.23 percent. Are you following?
Another consideration for buying here is location. Those who work outside the state and retirees with family and friends in neighboring states enjoy manageable commuting. And Delaware is close to Baltimore, Philadelphia, Washington, D.C., New York City and Atlantic City.
Many of the advantages of buying in Delaware translate to immediate and long-term savings. Other reasons translate easily to long-term quality-of-life benefits. People enjoy living here because of natural attractions like the beaches and state parks—16 in all—as well as outdoor pursuits such as hunting, fishing and boating. There are two national wildlife refuges, three state forest complexes, numerous golf courses, performing arts, excellent museums, a NASCAR raceway and historic sites that are among the earliest settlements in the Unites States. There is horse racing and casinos. For the military retiree, Dover Air Force Base is located in the middle of the state. Several universities and colleges add to the allure.
Last, homes for nearly anyone’s taste abound here. There are rural homes, second homes, city houses, beach homes, condos, and in ever-increasing numbers, 55-plus or active adult communities.
What’s not to love? Some smart Realtor should be buying up billboards on I-95 from Baltimore to Philly.
—John Cirafici
