Rehoboth Beach Real Estate

Wednesday, June 16, 2021   /   by Jay Lesko

Rehoboth Beach Real Estate

Rehoboth Beach Real Estate Here


The Indian River Life-Saving Station is a historical destination in the Rehoboth Beach area that is listed on the National Register of Historic Places and it forms a part of The Delaware History Trail. Built in response to the increasing number of shipwrecks occurring during the late 1800’s, this historic site was used for night beach patrols and exciting high seas rescues. In modern times it would seem unlikely that anyone would need rescuing in the warm and welcoming community that Rehoboth Beach offers. 


What are these “tax perks” I keep hearing about?


Throughout the region it is quite well-known that Delaware features tax-free shopping - the only state in the mid-Atlantic that does. Alaska, Montana, New Hampshire and Oregon are the only other states to offer tax-free shopping in the country. Apart from the obvious and overt benefit of tax-free shopping, one other perk is seeing Sussex becoming one of the fastest growing counties in the state. Low property tax. 


 


Some of the lowest property taxes in Delaware can be found in Sussex County. The average effective property tax rate is a scant 0.31%, this is partly due because property values have not been reassessed since 1972, during the administration of President Nixon. Essentially homeowners in Coastal Delaware are paying taxes based on what their properties were worth over 45 years ago. This is quite the financial incentive to entice individuals and families into the coastal lifestyle. A host of other tax perks, with special consideration for seniors, make Delaware and Rehoboth Beach all the more attractive. 


The average house in Rehoboth Beach?


The median home value settles comfortably on $1,287,086, with single-family homes being the most commonly found and accounts for nearly 62% of the city’s housing units. Large apartment complexes, duplexes, small apartment buildings and a few row houses and other attached homes make up the rest of the housing population. 


 


Owner-occupied housing accounts for the vast majority of Rehoboth Beach’s homes and these dwellings are typically 3 or four bedroom, single-family detached homes. A lot of the dwellings date from the 1970’s to 1999, giving parts of town an eclectic “Brady Bunch” feel. Some houses (less than 20%) hail from before 1939.


 


Seasonal occupation is the name of the game that sees a decent portion of Rehoboth Beach homes seasonally vacant. Homes and condos are mainly occupied for vacation purposes, then left locked and unoccupied when owners and vacationers have returned to their primary residences. 


Average Rehoboth Beach home appreciation rates?


In the last decade, Rehoboth Beach experienced some of the highest home appreciation rates of any community in the nation. Real estate appreciated a staggering 66.25% over the last decade, equating to an average annual home appreciation rate of 5.21%. This places Rehoboth Beach in the top 20% nationally when it comes to real estate appreciation, making it a great long-term investment. 


Which neighborhoods are popular?


The average per capita income in Rehoboth Beach was estimated to be $135,271 in 2018. When compared to Delaware and the nation this is wealthy and equates to an annual income of around $541,084 for an average family of four. You’ll find that English is mostly spoken, but Italian and Slavic languages are present - albeit in a minority. Despite these broad characteristics, each neighborhood draws a unique mix of people, giving it a one-of-a-kind flavour. 


Henlopen Acres


Nesting on the northern edge of Rehoboth, this area was originally part of a tobacco farm purchased in 1930 by Col. Wilbur Corkran and his wife, Louise Corkran. Having come a long way from its tobacco farm roots, Henlopen Acres is arguably the most exclusive zip code in the state. Adding to the lure of this exclusivity is the fact that some of the houses date to the 1940s. Others are new. Each house has a different charm about it and the oceanfront beach club and marina will excite you with stunning views. Best part is Henlopen Acres is close to downtown Rehoboth. 


North Shores


An air of exclusivity married with a casual, beachy vibe permeates this area to create a kind of laid-back sophistication. Some A-frames from the 1960’s can be found here, but North Shores is better known for stunning contemporary homes. Whether it be a condo building with ocean views or something a little more exclusive, the most discerning buyer will find something here, President Biden did after all.


North Rehoboth


This section of the city is quite special. This area includes The Pines and a lush tree canopy is present during the summer. There’s evergreens as well. The area has an “old Rehoboth” feel to it and really imparts the impression that families have owned property here for generations. It leaves one with a sense of community. 


South Rehoboth


The area south of Rehoboth Avenue is a lot more uniform than other areas. There has been a lot of new construction in this area. Folks want proximity to downtown and the beach, with some willing to forego properties in other parts of town in order to wait for southern section properties as they are quite convenient in their location. 


Things to do in Rehoboth?


Being a popular family beach vacation destination on the East Coast, Rehoboth Beach thrills beachgoers with 30 miles of coastline. Active individuals and sports enthusiasts can indulge in a variety of watersports, hiking and outdoor activities. Or visit one of the many attractions Rehoboth Beach has on offer. 


 


Those who wish to immerse themselves in local culture can try the Dogfish Head Brewings & Eats. This well-known local restaurant has had their doors open since 1995. Perhaps one could venture to sample one of their “off-centered” ales. You may just run into a musician as the restaurant hosts local and out-of-town musicians quite regularly.  


 


The Rehoboth Beach Farmers Market is one of the largest farmer’s markets in the area and typically has a great variety of vendors and products. Apart from your usual farmer’s market fare, one can find candles, soaps, ice cream and even doggy treats here. 


 


Those with a need for speed will enjoy the Midway Speedway Park. Race go-karts down this pro-style course with high bank turns. Family-friendly options, such as two seat go-karts and a kiddie track, are available. The Speedway is part of a complex that contains Fire Mountain Miniature Golf, White Water Mountain water park and Fun Park. 


Overall Impressions


Rehoboth Beach has an abundance of activities that will appeal to people of all ages and it hosts some of the cleanest beaches in the country. Cape Henlopen State Park has bike trails, fishing pier, kayaking, tours and collection of other things to do. The boardwalk features amazing restaurants, shops and entertainment sites. When taking the home appreciation rates into consideration along with all the amenities and tax benefits, one will be hard-pressed to find a more inviting place to call home. 


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