When you’re considering a move to a new area it’s important to use straightforward information to make a sound decision.
You might be surprised at the recently published list of the 25 wealthiest zip codes in Delaware. I was until I noticed that the ranking system used by the Delaware Business Times was based on 2018 Median Household Income.
Based on this criteria, Lewes is ranked at #20 and Rehoboth Beach at #21! Again, the ranking is not based on actual wealth but on household income, and a good percentage of the population in Eastern Sussex County are retired while others are part-time residents.
So where is the real wealth in Delaware?
The top 10 wealthiest zip codes are all located in New Castle County, the northernmost county in the state. Greenville is #1, a repeat from the 2014 ranking. Numbers 2-4 are also repeated with Hockessin, Odessa, and Alapocas maintaining their positions. But Middletown has moved into #5, demonstrating the growth of the entire area known to some as MOT (Middletown, Odessa, Townsend) and to others as simply “Below the Canal.” With Odessa at #3, Middletown at #5 and Townsend at #7, this is the changing face of Northern Delaware.
What’s interesting about MOT is there is growth in both the traditional housing market as young families are moving up to larger homes in new communities and in the 55+ population as retirees find MOT to be a very convenient location. With the population growth there are plans for a new library, a new YMCA, new hotels and restaurants and new businesses.
New $24 million library planned for Middletown
Ground will be broken in 2019 for a new $24 million, 25,000 square-foot library. County officials announced in October that the library will open sometime in 2021 on a portion of the Promenade property on Main (Del. 299) and Catherine streets near Silver Lake Elementary School.
New Castle County Executive Matt Meyer said he is committed to expediting the project because people have been asking for it for years and because the area south of the C&D Canal is growing so quickly.
Deciphering the Data
When you’re considering a move to a new area it’s important to use reliable and trusted information to make a sound decision. At first glance, the wealthiest zip codes in Delaware the data appears to be saying one thing but under a keen eye we realize the data is from 2018 and skewed to not take into consideration retirees and part-timers.
Our team of agents does this deciphering work for you. We make it our priority to know what’s happening and upcoming for the areas we represent. Ask one of our agents about the growth plans for any of the communities or neighborhoods you’re interested in.
When you partner with Active Adults Realty, we have your best interests at heart. Our keen attention is always keeping you informed. Have questions? We’re happy to set up a time to talk and help with your housing needs—selling or buying.