Delaware Rental Market

[Steve Novosel]

Hey everyone- Thanks for reading. I currently live in NJ however am considering moving my investment to Delaware because of the lower taxes. Could anyone recommend a good area in Delaware with a strong rental market? I have been considering college towns but I'm looking for some feedback from anyone who has worked with tenants before in Delaware. Thanks again!

[Glen Beringer]

It will all depend on your price point.  Newark (where the University of Delaware is located) is going to be pretty expensive since the city is apparently no longer giving out rental permits in the neighborhoods surrounding the University.  Therefore, you would really only be looking to buy properties with the grandfathered permit.  That being said, I am sure there are ways to get around the permitting issues since there are new apartment buildings going up all the time.

Other than that I would look in the nicer areas of Wilmington like Trolley Square, Mid-town Brandywine, Happy Valley, the Highlands, and parts of Little Italy.  Little Italy and Mid-town Brandywine would be your lower price points.  Rentals get filled pretty easily from what I have heard and you would be renting to mostly young professionals in those areas.