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Investing now in Rent to Own properties in Delaware can prove very advantageous in a local market that is on the upswing. By engaging in a lease-option arrangement, you are able to test-drive a home and keep an eye on market health and growth before taking the plunge and making a full investment. For middle income buyers with less than perfect credit, lease option affords the opportunity to jump into a competitive market now and spend time getting your finances in order to secure a mortgage--before home prices grow even more.
First in the Union
Delaware is the second smallest state in the nation, and was the first to ratify the Constitution after the American Revolution--making it the first state in the union. For a small state, Delaware is rich in business with well over 50 percent of all Fortune 500 corporations keeping a headquarters in the state. Major industries in the First State include business, finance, chemical manufacturing, paper products, and food processing. Population growth averages at about 1.1 percent annually. Job growth in Delaware continues at 2.1 percent and unemployment sits at 4.8 percent. For average income, the median household income is $47,381 and the median family income is $55,257 annually.
Downtown Wilmington, DE Source: Doug Holveck, FlickrBuying Delaware
Home values in Delaware are slightly above the national average and generally more affordable than neighboring states in the mid-Atlantic region. Zillow pegs the average home value in Delaware at $199,800 as of late May 2015. Some of the most popular metro areas in Delaware are Wilmington, Newark, Dover, Bear, and Middletown.
Education is very important in Delaware, as is illustrated by competitive primary and secondary schools as well as top of the line state universities. School rankings are mostly good to average throughout the First State with the best schools concentrated near the southern part of the state. Delaware is home to the University of Delaware, Delaware State University, Wilmington State University, Wesley College, and Goldey-Beacom College.
Crime in Delaware is largely centered in the urban areas that dot the north of the state. In terms of statewide annual crime, violent crime rates are above the 3.8 per 1,000 residents national average at 4.91 while property crime is 30.66 per 1,000 residents and is above the 27.3 national average.
Southern Delaware Beaches, DE. Via TripAdvisorCulture and Entertainment
Delaware offers residents plenty of fun points of interest that include Hagley Museum and Library, Delaware Beaches, Cape Henlopen State Park, Dover International Speedway, and the Grand Opera Wilmington House. A lot of history and business is in Delaware, and the state has a large concentration of wealth thanks to its corporate culture. Most people have money to spend thanks to the huge financial population, so living well is common along with many water activities.