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 2,848, 1,277 total housing units (homes and apartments), and a median house value of $552,808, real estate costs in Ocean View are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Delaware communities.
Single-family detached homes are the single most common housing type in Ocean View, accounting for 75.19% of the town's housing units. Other types of housing that are prevalent in Ocean View include row houses and other attached homes ( 22.55%), duplexes, homes converted to apartments or other small apartment buildings ( 2.09%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Ocean View. Owner-occupied housing accounts for 94.05% of Ocean View's homes, and 80.43% have either three or four bedrooms, which is average sized relative to America.
Ocean View homes and real estate are some of the newest in America. 73.14% of Ocean View'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 Ocean View real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 22.71%), and before 1939 ( 2.46%). There's also some housing in Ocean View built between 1940-1969 ( 1.69%).
A decent proportion of the Ocean View housing stock is seasonally occupied. That is, homes and condos in Ocean View are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Ocean View housing market speaks to its popularity as a vacation location of choice.
Appreciation rates for homes in Ocean View have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.33%, which ranks in the top 50% nationwide. This equates to an annual average Ocean View house appreciation rate of 6.54%.
Appreciation rates are so strong in Ocean View that despite a nationwide downturn in the housing market, Ocean View real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ocean View appreciation rates continue to be some of the highest in America, at 9.16%, which is higher than appreciation rates in 92.31% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ocean View. Ocean View appreciation rates in the latest quarter were at 6.79%, which equates to an annual appreciation rate of 30.04%.
Importantly, this makes Ocean View 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 Ocean View's latest annual appreciation rate is higher than 80% of the other cities and towns in Delaware.
$552,808
for Delaware
for nation
1,277
$2,397 / per month