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Did You Know Delaware could become the new Silicon Valley?

December 1, 2020
By I&T Today

Delaware has America’s fastest internet speeds

Max Beckett, broadband expert at money.co.uk, said:  “With more people working remotely than ever before, the demand for fast, reliable broadband is at an all-time high. It’s clear to see the impact internet speeds could be having on the real estate market. We may start to see many remote workers leaving cities and economic hubs like New York or San Francisco to escape their smaller apartments and the astronomical rents. States such as Delaware and Virginia start to look more attractive to those looking to relocate.”

“Our data also has revealed that higher internet speeds may be pushing up the prices of homes across the country, with residents paying up to 79% more on homes that benefit from faster internet”.

New data reveals that wifi speeds in Delaware are 25% faster than New York and California

  • Delaware has the fastest internet speeds in the USA, 22% faster than New York, and 25% quicker than California and Washington DC.
  • Delaware offers affordable real estate prices alongside the countries best internet speeds
  • House prices are 80% cheaper in Delaware than in California
  • The broadband experts at co.uk launch the Internet Housing Index

New research by internet experts money.co.uk has revealed that Delaware is fast becoming a major new global centre for high technology and innovation as the state leads the way with the fastest internet speeds in the country.

Delaware offers new residents attractive house prices with fast internet connectivity promising excellent working from home and entertainment capabilities. Current house prices in Delaware are priced moderately at an average cost of $236,300, 3.4% less than the average US house price of $244,540. This affordable price may lead to a surge in new residents in the coming year.

With streaming platforms becoming ever more popular and 4K content on the rise, along with working from home now seen as the new norm (1 in 4 workers are now working from home), internet speeds are a huge factor for those looking to either buy property or relocate in the current Covid19 climate.

The study below analyzes 3 core data points across 50 states and federal districts:

  • Average house price
  • Average Mbps internet speed (Megabytes Per Second)
  • Number of internet users
State Avg. Peak Speed (Mbps) % of Population Using Internet Average House Prices
Delaware 75 78.3 $236,300.00
Virginia 74 81.7 $264,200.00
Washington 68 87.3 $567,800.00
Massachusetts 66 77.1 $408,100.00
Rhode Island 65 83.7 $284,200.00
North Dakota 62 80.6 $210,000.00
Utah 60 88.1 $351,100.00
New York 60 76.2 $305,300.00
New Jersey 59 81.3 $329,000.00
California 58 77.8 $550,800.00
Connecticut 58 79.9 $244,800.00
Maryland 58 82.9 $290,500.00
Pennsylvania 56 76.8 $176,500.00
South Dakota 54 79.8 $194,700.00
New Hampshire 53 87.8 $280,400.00
Florida 52 77.3 $237,900.00
US Average 50.37 79.4 $244,539.00

Delaware and North Dakota are the only states where homeowners have access to affordable housing and faster wifi speeds.

House prices are boosted in these leading local areas thanks to their faster internet speeds, Delaware sees an average peak speed of 75 Mbps, 25% faster than California which only sees speeds of 58 Mbps with many now relying on strong connectivity and speeds as both part of their livelihood and after-work entertainment.

Virginia, The District of Columbia, Massachusetts and Rhode Island round up the top 5 States with the fastest speeds within the country, citing other possible tech hubs which may start to emerge outside of California.

The best places to buy investment homes based on average Mbps are The District of Columbia ($567,800 average property cost) and Massachusetts ($408,100 average property cost) as these states both look set to emerge as potential new tech hubs.

Internet service providers in these locations offer some of the fastest speeds in the country whilst the properties are valued up to $323,261 higher than average.

Max Beckett, broadband expert at money.co.uk, said “with more people working remotely than ever before, the demand for fast, reliable broadband is at an all-time high.”
“It’s clear to see the impact internet speeds could be having on the real estate market,” he said.  “We may start to see many remote workers leaving cities and economic hubs like New York or San Francisco to escape their smaller apartments and the astronomical rents. States such as Delaware and Virginia start to look more attractive to those looking to relocate.”

Homebuyers wanting to invest in property can compare internet speeds and house prices using the new Internet Housing Index.

The full money.co.uk Internet Housing Index can be found here: https://www.money.co.uk/guides/broadband-housing-index

 

Author Bio: Innovation & Tech Today features a wide variety of writers on tech, science, business, sustainability, and culture. Have an idea? Send it to submit@innotechtoday.com

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