b'OPPORTUNITY LIVES HEREHOUSINGWilmington is centrally located betweenAverage Monthly Housing Rentjob centers in New York City, Philadelphia, Washington, D.C., and Baltimore, whichWashington, can make the city an attractive locationWilmington Philadelphia New York City DCfor professionals that might not be tied to a specific work location. For comparison,$854 $877 $1,379 $1,517according to the 2021 American Community Survey 5-year estimates, the average rent in New York City is $1,379, in Washington D.C.Source: U.S. Census ACS 5-year (2021)the average rent is $1,517, and in Philadelphia the average rent is $887all above the% of Households that are Rent Cost-Burdenedaverage rent in Wilmington of $854.(2022) The DistrictDelawareAbout 54% of households in the District are owner-occupied. Another 35.2 percent are occupied by renters, while 10.9 percent of housing units are vacant. However, there are numerous blocks within the District with aging housing stock75 percent of housing units in the District were built before 1969.Source: ESRI Business Analyst (2022)There is opportunity to renovate, rebuild,Housing Status or infill existing housing stock both for The DistrictDelawaremodernization, as well as to accommodate population growth. Many District residents are cost-burdened by their housing expenses (meaning they spend more than 30 percent of their income on housing). Any new development should ensure that there are adequate affordable options.Source: ESRI Business Analyst (2022)Delaware Three Rivers Area Economic Development Master Plan 30'