Laurel, Delaware Real Estate & Housing Market

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Laurel Housing Information

Index	Laurel	Delaware	National
Median home price	$142,700	$233,100	$184,700
Median rent asked	$753	$1,039	$949
Avg. people per household	3.1	2.6	2.6
Owner occupied households	50.5%	70.9%	63.6%
Renter occupied households	49.5%	29.1%	36.4%

A general summary of the real estate market in Laurel, DE is listed above. Properties in Laurel, DE average a cost of $142,700, which is 39% lower than the median home price for real estate located in Delaware. This means that the region of Laurel, DE is, on average, more affordable when compared to the remainder of Delaware. Since tenants living in Laurel, DE will pay an average of $753, the median rental cost is 28% lower than in Delaware. 50.5% of people in Laurel, DE own their own homes, and an average of 3.1 people inhabit each property. Laurel, DE has many assorted real estate listings available. These range from urban townhouses to inexpensive condos to luxurious residences. We make finding homes for sale and browsing real estate listings effortless. Simply use the search function above, and obtain filtered results according to price, location, bathrooms and bedrooms.

Laurel Home Affordability

When starting your search for real estate in Laurel, DE, it is crucial to consider home affordability. When calculating home affordability, the ratio of home price to median household income is one of the methods that is applicable in doing so. On average, a home in Laurel, DE costs $142,700 while each household has an average income of $36,335. Consequently, the ratio of home price to household income is 3.9x; this ratio is 3% higher than the average in Delaware. Calculating the home affordability ratio involves dividing the average price of a home by the average income of homes in Laurel, DE. When the ratio of home price to income is relatively low, the implication is that homes are more affordable on the basis of the home price in comparison with the home income. Note that besides home price to median household income ratio, there are various other factors to put into consideration when determining if home affordability exists. Check the home affordability calculator shown below to calculate how much you can afford to pay for real estate in Laurel, DE.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Quantico, MD	25	$0	100%
Whaleyville, MD	102	$0	100%
Pittsville, MD	1,335	$121,200	34%
Willards, MD	922	$129,400	30%
Delmar, DE	1,792	$130,600	29%
Laurel, DE	3,984	$142,700	23%

Cities with similar population

City, State	Population	Home Price	National Avg.
Bloomfield Hills, MI	3,984	$794,600	330%
Desoto Lakes, FL	3,982	$195,000	6%
Crescent Springs, KY	3,986	$213,300	15%
Berne, IN	3,982	$94,500	49%
Dundee, FL	3,986	$81,000	56%
Laurel, DE	3,984	$142,700	23%

Source: The Laurel, DE housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).