How Much House Can I Afford in Delaware?
Median Home Price
$330,000
Median Household Income
$75,000
Avg Property Tax Rate
0.57%
Avg Insurance/mo
$92
Delaware is a surprisingly affordable mid-Atlantic option, with a low property tax rate (0.57%), no sales tax, and a median home price around $330,000. New Castle County communities near Wilmington offer prices from $250,000 in starter-home areas to $500,000+ in suburbs like Hockessin and North Wilmington.
Sussex County in southern Delaware is a different market. Beach communities of Rehoboth Beach, Lewes, and Bethany Beach command prices of $450,000–$1M+, driven by vacation home demand and retiree migration — making it one of the fastest-growing Mid-Atlantic housing markets.
Homeowners insurance is relatively affordable at around $1,100/year ($92/month), thanks to Delaware's limited hurricane exposure. Coastal Sussex County properties near the ocean may pay more, particularly those requiring separate flood insurance.
Delaware charges a real estate transfer tax of 4% of sale price, split 50/50 between buyer and seller — meaning buyers pay 2% at closing. On a $330,000 home, that's $6,600 for the buyer's share. First-time buyers may qualify for a reduced transfer tax under certain programs.
Delaware has no state sales tax and a low property tax rate (0.57%), boosting overall affordability.
Wilmington is the primary job center; Sussex County beaches draw retirees and second-home buyers.
A 2% buyer transfer tax applies at closing (part of a 4% state + local total split 50/50).
Coastal Sussex County (Rehoboth, Lewes) is among the fastest-growing Mid-Atlantic markets.
Income
Monthly Debts
Down Payment
warningPMI applies — put 20% down to eliminate it
DTI Guideline
Front 30% / Back 40%
You can afford up to
—
$2,500/month total payment
Constrained by front-end DTI
Budget Range
Conservative → AggressiveDebt-to-Income Ratios
Front-end DTI (housing)
Back-end DTI (all debts)
Monthly Payment Breakdown
Scenario Comparison
Ways to Increase Your Budget
Adding $10K to your down payment could increase your budget by $9K.
+$9KA 0.5% lower rate could expand your budget by $14K.
+$14KYou're paying $206/mo in PMI. Reaching 20% down eliminates this cost.
Know your target home price?
arrow_forwardSee full amortization scheduleDisclaimer: These estimates are for educational purposes only. Actual loan qualification depends on your credit score, lender guidelines, and local market conditions. Consult a licensed mortgage professional before making any financial decisions.