New Castle County Real Estate and Livability Trends
New Castle County, Delaware, has witnessed a marked rise in average taxable income per tax return, reaching $90,754.07 in 2021, hinting at growing economic stability. The jump in state and local income taxes to $15,240.34 in 2021 could strain household budgets but also attract investors. Median home values surged to $312,000 in 2022, outpacing state and national figures and reflecting rising... Read more
New Castle County Market Trends
New Castle County, Delaware's median home values have surged to $312,000 in 2022, outpacing both state and national medians. Notable fluctuations in residential energy tax credits, particularly the spike to $2,684.87 in 2018, suggest a strong local focus on sustainable living. Real estate taxes have steadily increased from approximately $2,753.06 in 2012 to around $4,652.68 in 2021, indicative of... Read more
Median Value of Occupied Housing Units in New Castle County, Delaware Over the Last 8 Years
New Castle County, Delaware's median home values have shown a consistent upward trajectory over the past eight years, accelerating notably by 2022 to $312,000. This outpaces both the state of Delaware, which sits at $305,200 for the same year, and the national median value of $179,400. Such growth could make New Castle County a compelling option for investors and those looking to capitalize on property value appreciation, though the higher cost compared to broader benchmarks may also indicate an increasingly competitive market.
Residential Energy Tax Credit Per Tax Return in New Castle County, DE Over the Last 9 Years
Investors and residents in New Castle County, Delaware, should note the significant fluctuations in residential energy tax credits over the past nine years. Noteworthy is the sharp increase in 2018, where the average credit spiked to $2,684.87 from the previous year's $920.61, possibly indicating a surge in energy-efficient home installations or policy changes. Following this peak, the tax credit levels off but remains considerably higher than earlier years. Such trends could suggest a strong local emphasis on sustainable living which might influence property values and the overall cost of living in the county.
Average Real Estate Taxes Per Tax Return in New Castle County, DE Over the Last 10 Years
In New Castle County, Delaware, the average real estate taxes per tax return have shown a steady increase over the past decade. Starting at approximately $2,753.06 in 2012, there's been a noticeable rise, peaking at around $4,652.68 in 2021. This upward trend could suggest rising property values or adjustments in tax policies. For potential investors or residents, this information is crucial as it highlights the growing financial commitment associated with owning property in the area.
Percentage of Farm Returns in New Castle County, DE Over the Last 10 Years
Over the last decade, New Castle County, Delaware has seen a fluctuating but generally declining trend in the percentage of farm tax returns. Starting at a peak of 0.15% in 2012, these returns dropped to a low of around 0.10% in 2019 before slightly rebounding to approximately 0.11% in 2021. Farm tax returns serve as a key indicator of agricultural activity and economic health in any region. This decline in farm returns may suggest evolving land use practices, shifts in local economic priorities, or challenges within the agricultural sector in the county. Understanding these trends is crucial for those considering investing in agricultural ventures, engaging in local real estate, or desiring insight into the region's economic landscape.
Number of Mortgages by Occupancy Type in New Castle County, DE Over the Last 5 Years in New Castle County
New Castle County, Delaware has seen notable shifts in mortgage patterns across different occupancy types over the past five years. Principal residences have consistently led in mortgage counts, peaking in 2021 with 47,251 mortgages before a substantial drop in 2022 to 26,610. Investment properties and second residences have shown more moderate fluctuations, with investment property mortgages rising slightly from 1,312 in 2018 to 2,421 in 2021 and then declining again. These changes might reflect broader economic influences like market demand, interest rates, and population growth. Investors, builders, and real estate agents could find value in these trends, as they highlight evolving priorities and potential opportunities in the housing market, possibly affecting home valuations, insurance risks, and investment returns.
Economic Outlook
New Castle County, Delaware has experienced a steady rise in average taxable income per tax return, reaching $90,754.07 in 2021, suggesting growing economic stability. The county has also seen a significant increase in state and local income taxes, spiking to $15,240.34 in 2021, which might impact household budgets and attract investor attention. Notably, the average total tax liability per tax return surged to $16,334.33 by 2021, indicating economic factors or policy changes. Despite peaks in... Read more
Average Taxable Income per Tax Return in New Castle County, DE over the last 9 years
New Castle County, DE has seen a steady rise in average taxable income per tax return over the past nine years, culminating in a sharp increase to $90,754.07 in 2021. This upward trend suggests a growing economic stability and affluence in the region, making it an attractive spot for investors, new residents, and property developers. Despite occasional fluctuations, the overall positive trajectory indicates a robust economic environment likely to continue thriving.
Average State and Local Income Taxes Per Tax Return in New Castle County, DE Over the Last 10 Years
Over the last decade, New Castle County, DE has seen a significant upward trend in average state and local income taxes per tax return, with amounts climbing from $6,862.15 in 2012 to an exceptionally high $15,240.34 in 2021. Notably, there's a pronounced spike starting in 2018, indicating more aggressive tax policies or rising incomes. This sharp increase could impact household budgeting and is crucial for potential movers and current residents to consider meticulously in their financial planning.
Average Total Tax Liability Per Tax Return in New Castle County, DE Over the Last 10 Years
Over the past decade, New Castle County, Delaware has seen notable increases in average total tax liability per tax return. Starting from $11,725.62 in 2012, it surged to $16,334.33 by 2021. Noteworthy jumps occurred in 2015, 2017, and especially in 2021, signaling economic factors or policy changes impacting taxpayers. These trends are crucial for investors, potential residents, and developers as they reflect the economic environment and potential shifts in property tax liabilities.
Cost of Living in New Castle County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,777 | $1,580 | $2,118 | $1,690 | $1,836 |
| 1 adult 4 children | $1,777 | $1,291 | $1,621 | $1,690 | $2,006 |
| 2 adults 3 children | $1,777 | $1,291 | $1,837 | $1,690 | $1,548 |
| 1 adult 3 children | $1,777 | $1,054 | $1,340 | $1,690 | $1,733 |
| 2 adults 2 children | $1,460 | $1,057 | $1,556 | $1,528 | $1,268 |
| 1 adult 2 children | $1,460 | $789 | $1,059 | $1,528 | $1,339 |
| 2 adults 1 child | $1,460 | $835 | $1,275 | $1,001 | $1,130 |
| 1 adult 1 child | $1,460 | $540 | $778 | $1,001 | $1,088 |
| 2 adults | $1,210 | $671 | $994 | $0 | $853 |
| 1 adult | $1,074 | $366 | $497 | $0 | $711 |
Safety trends & Data
New Castle County, Delaware has seen fluctuating property crime rates over the past five years, with larceny-theft dropping from 2,356.00 incidents in 2018 to 1,423.00 in 2022, and burglary also declining from a peak of 408.00 in 2019 to 305.00 by 2022. Vandalism, however, rose until 2021 before a slight reduction. Embezzlement and forgery showed more variability, peaking in 2019 and significantly dropping by 2021. These trends suggest shifting security concerns for residents, insurers, and... Read more
Property Crime Trends in New Castle County, DE Over the Last 5 Years
Over the last five years, New Castle County, Delaware has seen a noticeable fluctuation in property crime rates. There's been a general decline in larceny-theft, going from 2,356.0 incidents in 2018 to 1,423.0 incidents in 2022. Burglary also saw a downward trend, peaking at 408.0 incidents in 2019 and dropping to 305.0 incidents by 2022. Interestingly, vandalism reports increased until 2021, before seeing a slight reduction in 2022. Embezzlement and forgery cases, while lower in number compared to larceny-theft and burglary, showcased more variability, peaking in 2019 and then significantly declining by 2021. This data implies shifting security concerns for residents, insurers, and real estate investors alike.
Demographics
New Castle County, Delaware exhibits a slight female majority in its adult population, implying potential leanings in healthcare and social services targeted more towards women. Educational attainment highlights a considerable segment with high school diplomas, while a notable proportion has pursued higher education, suggesting a relatively educated workforce. Age distribution is fairly diverse, with significant groups in both younger and middle-aged brackets, which may indicate stable... Read more
Race Distribution in New Castle County, Delaware (2022)
Educational Attainment in New Castle County, Delaware (2022)
Age Distribution in New Castle County, Delaware
Citizen Population in New Castle County, Delaware (2022)
Political Trends & Data
New Castle County, Delaware, demonstrated a notable Democratic tilt during the 2020 U.S. Presidential Election, with about 68% of votes probably favoring Democratic candidates. Republicans secured slightly over 30%, and minor parties such as Libertarians and the Green Party captured around 1% and 0.4% respectively. This political landscape might influence not just future elections, but also broader social and economic policies in the area, potentially affecting factors like local real estate... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
New Castle County, Delaware, saw a significant lean towards Democratic candidates in the 2020 U.S. Presidential Election, with approximately 68% of the vote likely favoring this party. Republicans captured just over 30%, while Libertarians and the Green Party garnered modest support, around 1% and 0.4% respectively. These trends may indicate a strong Democratic base, suggesting that future elections could potentially follow similar patterns.
30.72% of voters voted for the Republican party in the 2020 Presidential Election
67.81% of voters voted for the Democrat party in the 2020 Presidential Election
1.03% of voters voted for the Livertarian party in the 2020 Presidential Election
0.45% of voters voted for the Green party in the 2020 Presidential Election
School Data
New Castle County, Delaware has seen a notable improvement in its student-to-teacher ratio over the past decade, dropping from a peak of 16 in 2016 to a more favorable 13 in 2023. This trend towards smaller class sizes could be a key selling point for real estate agents targeting families focused on education. Investors might see this as a sign of an improving school system, which can positively affect property values. With current ratios below the national average of 14, the county's... Read more
Student-to-teacher ratio in New Castle County, Delaware over the last 10 years
Over the past decade, New Castle County, Delaware has seen its student-to-teacher ratio fluctuate, peaking at 16 in 2016 and gradually declining to 13 in 2023. This decrease suggests that class sizes are becoming smaller, potentially leading to more personalized attention for students. For investors, this trend could signal an improving education system, which might enhance property values. Real estate agents could use these improving ratios as a selling point for families prioritizing education. Appraisers and insurance agents might also note that better educational environments can improve neighborhood desirability. With the current national average at 14 students per teacher, New Castle County is showing improvement as ratios are now below this benchmark, indicating a competitive advantage.
