New Castle County Multifamily Buyer
Sell Your Commercial Property In New Castle County, DE
New Castle County is northern Delaware’s urban and suburban core, home to Wilmington, Newark, and Middletown. Banking, chemical, and healthcare employers and the University of Delaware support rental demand in urban rowhouses, student housing, and suburban garden complexes.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Cities We Cover: Wilmington · Newark · Middletown — County seat: Wilmington
New Castle County
Where We Buy In New Castle County
We evaluate apartment buildings of 5+ units across New Castle County — in each city below, plus smaller towns and unincorporated areas countywide.
Local Market Data
New Castle County Apartment Market
Figures gathered October 2026 from public market data.
If you plan to sell commercial property in New Castle County, DE, start with the renter base behind that demand. New Castle County counts 69,449 renter households, a 31.0% share of its 224,173 occupied homes, per the Census Bureau's 2020-2024 American Community Survey. Wilmington alone holds a 52.0% renter share, and Newark reaches 49.3%. Median gross rent across New Castle County is $1,448, up 24.5% from the 2015-2019 survey.
Apartment buildings carry a meaningful share of that stock. New Castle County has 44,689 units in buildings of five or more units, 18.9% of all housing, after a 7.1% gain since the earlier survey. Rental vacancy sits at 5.0% countywide, tighter than Newark's 13.4% rate. HUD's FY2027 two-bedroom Fair Market Rent for the Philadelphia-Camden-Wilmington area reaches $1,860, well above the county median, and renter demand varies sharply from Wilmington to Middletown.
16,623 more jobs
New Castle County employment grew 6.0% between the 2015-2019 and 2020-2024 ACS surveys, adding 16,623 jobs.Income outpacing rent
Median household income rose 23.4% to $91,166 in the 2020-2024 ACS, nearly matching the county's rent growth.Apartment stock growing
Units in buildings of five or more apartments rose 7.1% to 44,689, adding 2,946 units since 2015-2019.Who rents in New Castle County
Renters head 69,449 of New Castle County's 224,173 occupied households, a 31.0% share in the 2020-2024 ACS. Owners still outnumber them, holding 154,724 households countywide. Wilmington carries the largest renter pool, with a 52.0% renter share and roughly 23.7% of all renter households in New Castle County.
Newark follows closely behind at a 49.3% renter share, driven in part by student housing near the University of Delaware. Middletown sits at the other end, with owners dominating at a 23.2% renter share. That spread means a buyer's underwriting looks different depending on which New Castle County city a property sits in.
Rents, growth and affordability
New Castle County's median gross rent climbed 24.5%, from $1,163 to $1,448, between the 2015-2019 and 2020-2024 surveys. Population grew more slowly over the same span, up 3.9% to 577,961 residents, an increase of 21,796 people. Median household income rose 23.4% to $91,166, keeping pace with rent gains.
Employment in New Castle County grew 6.0%, adding 16,623 jobs since the 2015-2019 survey. Units in buildings of five or more apartments rose 7.1%, an addition of 2,946 units, which helped hold rental vacancy to 5.0% countywide.
Rent burden remains a real factor. In the 2020-2024 ACS, 47.8% of New Castle County renters paid 30% or more of income on gross rent. HUD's FY2027 two-bedroom Fair Market Rent for the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA is $1,860, effective October 1, 2026, a full $412 above New Castle County's median gross rent.
City-by-city comparison
Wilmington holds the deepest renter base in New Castle County, but Newark posts the highest median rent among the three covered cities. Middletown, the fastest-growing of the three, still leans heavily toward owner-occupied homes.
| City | Median gross rent | Renter share | Share of units in 5+ buildings | Rental vacancy |
|---|---|---|---|---|
| Wilmington | $1,224 | 52.0% | 25.5% | 4.7% |
| Newark | $1,654 | 49.3% | 36.1% | 13.4% |
| Middletown | $1,583 | 23.2% | 13.2% | 1.8% |
Newark's 13.4% rental vacancy stands well above the New Castle County rate of 5.0%, reflecting turnover tied to the university calendar. Middletown's 1.8% vacancy is the tightest of the three, a sign of limited rental supply in a fast-growing town. Wilmington's 4.7% vacancy sits closest to the countywide figure.
Property taxes and assessment in New Castle County
New Castle County set a 2025 non-residential property tax rate of 23.80 cents per $100 of assessed value, following the county's court-ordered reassessment. The residential rate is lower, at 15.75 cents per $100. On a $1,000,000 assessed apartment building, the county portion alone runs roughly $2,380 a year.
That county rate is only one layer. School districts and other local taxing bodies in New Castle County add their own rates on top, so a parcel's full bill depends on its exact location. New Castle County last reassessed broadly in 1987 before the 2020s court-ordered update, and the state now requires reassessment every five years.
Delaware also charges a real estate transfer tax of 3% of value under 30 Del. C. Section 5402, split evenly between buyer and seller unless a local tax reduces the state share. Factor that cost into net proceeds before you price a New Castle County sale.
What this means if you sell in New Castle County
When you sell commercial property in New Castle County, DE, you sell into a market where renters hold 31.0% of households and 18.9% of units sit in 5+ unit buildings. The 5.0% rental vacancy rate is tight by national standards, but Newark's 13.4% shows that figure shifts block by block.
Taxes are the other half of the equation. New Castle County's 23.80-cent non-residential rate, stacked with school and local levies, plus Delaware's 3% transfer tax, all cut into net proceeds. Buyers underwrite the post-sale bill, not your current one, especially with reassessment cycles now running every five years.
As a multifamily buyer active in New Castle County, we review 5+ unit buildings from Wilmington to Middletown as they stand today. Selling an apartment building in New Castle County goes faster with a current rent roll, a T-12 and your latest tax statement in hand, and we price from those numbers directly.
Local Knowledge
Selling Multifamily In Delaware
What we factor into every New Castle County offer:
More about Delaware →- Delaware caps security deposits at one month's rent and requires return within 20 days of move-out.
- New Castle County's 2025 non-residential tax rate is 23.80 cents per $100 of assessed value.
- Rental vacancy in New Castle County is 5.0%, well below Newark's 13.4% rate.
- Delaware's 3% realty transfer tax splits evenly between buyer and seller at closing.
Property Tax
Property Tax In New Castle County For Apartment Owners
Homeowners in New Castle County pay a median of $2,499 a year in property tax on a median home value of $352,200, an effective rate of about 0.71%, according to the Census Bureau’s 2020-2024 American Community Survey. That is above the Delaware statewide average of 0.54%.
How property tax works in Delaware: classes, assessment and appeals →Estimate a building’s tax bill with the property tax calculator →
- Those figures describe owner-occupied homes. An apartment building can be assessed on a different basis or in a different class, so its bill as a share of value may differ.
- A sale can reset the assessed value. Before you price a New Castle County building, check how Delaware reassesses property after a transfer and model the buyer’s new tax bill.
- Pull the actual tax bill from the New Castle County assessor or tax collector. City, school and special-district levies stack on top of the county rate.
Seller Guides
Selling In New Castle County? Common Situations We Handle
Learn More
Taxes & Rules For New Castle County Property
The Delaware rules that shape any deal in New Castle County: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Our Buy Box
What We Buy In New Castle County
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
How Selling To Us Works
- 01
Submit The Deal
Send the address, unit count, asking price, and a rent roll or T-12 if you have them.
- 02
Initial Review
We review it against our buy box and give clear feedback — typically within 48 hours.
- 03
Underwriting & LOI
If it fits, we underwrite in detail and submit a written letter of intent.
- 04
Diligence & Close
Inspections and financing on the agreed timeline, then a professional, predictable closing.
New Castle County Seller FAQ
What should I know about property taxes before I sell commercial property in New Castle County, DE?
New Castle County set a 2025 non-residential rate of 23.80 cents per $100 of assessed value after its court-ordered reassessment. School and local levies add to that base rate. Reassessment now runs every five years statewide, so buyers underwrite the next cycle, not the current bill.
How high is rental vacancy in New Castle County?
Rental vacancy in New Castle County was 5.0% in the Census Bureau's 2020-2024 American Community Survey. Newark ran far higher at 13.4%, tied to student turnover, while Middletown held just 1.8%. Buyers weigh a building's own occupancy against those local rates.
How much have rents grown in New Castle County?
Median gross rent in New Castle County rose from $1,163 in the 2015-2019 survey to $1,448 in 2020-2024, a 24.5% gain. HUD's FY2027 two-bedroom Fair Market Rent for the Philadelphia-Camden-Wilmington area is $1,860, above the county median.
What are Delaware's security deposit rules for a rental in New Castle County?
Under 25 Del. C. Section 5514, a Delaware landlord can collect at most one month's rent as a deposit. Landlords must return it, with an itemized list of damages, within 20 days of lease termination, or face double damages for a late refund.
How do I sell commercial property in New Castle County, DE?
Send the address, unit count, and any financials. We review New Castle County apartment buildings of 5+ units, give feedback typically within 48 hours, and follow with a written letter of intent if it fits.
Do you buy apartment buildings throughout New Castle County?
Yes. We evaluate multifamily properties across New Castle County, including Wilmington, Newark, and Middletown, as well as smaller towns and unincorporated areas. Every property is reviewed on its own fundamentals.
What size New Castle County properties do you buy?
Apartment buildings and income-producing residential properties with 5 or more units. Our sweet spot is 15–25 units, and we review larger communities with capital partners.
Will you buy a property that needs work or has high vacancy?
Yes. We underwrite value-add, mismanaged, and distressed properties as they are today — no repairs or lease-up required before selling.
Is it possible to sell rental property in New Castle County without evicting tenants?
It is. We buy apartment buildings occupied, and tenants stay on their current leases. Skyline Capital Investments is a commercial real estate buyer of 5+ unit buildings, so occupied properties are the norm for us.
How fast can I sell my apartment building in New Castle County?
Most owners get clear feedback within 48 hours of sending the address, unit count, and a rent roll. Closing is typically set around your timeline, including extra time for a 1031 exchange.
How do property taxes factor into a New Castle County offer?
Property is assessed at the county level (the county seat is Wilmington), within Delaware rules. All three Delaware counties recently reassessed property for the first time in decades. We use the updated assessments when calculating your property’s tax expense.
Submit A Deal
Have A Property In New Castle County?
Tell us about it. Owners, agents, brokers, and deal finders are all welcome — conversations are confidential.
